Title : Offences by Companies
State : Central
Year : 1987
(1) Where an offence under this Act has been committed by a company, every person who, at the time the offence was committed was in charge of, and was responsible to, the company, for the conduct of the business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly: Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been..... View Complete Act List Judgments citing this sectionTitle : Delegation of Powers
State : Central
Year : 1987
(1) The Central Government may, by notification, direct that all or any of the powers exercisable by it under this Act, other than the powers conferred by this section and sections 30 and 31, may also be exercised by such person or persons as may be specified in the notification. (2) Whenever any delegation of power is made under sub-section (1), the person to whom such power has been delegated shall act under the direction, control and supervision of the Central Government. View Complete Act List Judgments citing this sectionTitle : Power to Make Rules
State : Central
Year : 1987
(1) The Central Government may, by notification, make rules for carrying out the provisions of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:- (a) the time within which, and the manner in which, an intimation referred to in sub-section (3) of section 4 shall be given; (b) the manner in which the moneys in any provident fund or other fund, referred to in section 13 shall be dealt with; (c) any other matter which is required to be, or may be, prescribed. (3) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in session, for a total period of thirty days which may..... View Complete Act List Judgments citing this sectionTitle : Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987
State : Central
Year : 1987
THE BRENTFORD ELECTRIC (INDIA) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1987 [Act, No.36of 1987] [15th September, 1987] PREAMBLE An Act to provide for the acquisition and transfer of the undertakings of the Brentford Electric (India) Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture and production of electrical equipments which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto. WHEREAS the Brentford Electric (India) Limited had been engaged in the manufacture and production of articles mentioned in the First Schedule to the Industries (Development and Regulation) Act, 1951, (65 of..... View Complete Act List Judgments citing this sectionTitle : Preliminary
State : Central
Year : 1987
(1) This Act may be called the Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act, 1987. (2) The provisions of sections 26 and 27 shall come into force at once and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of April, 1986. Section 2 - Definitions In this Act, unless the context otherwise requires,- (a) "Andrew Yule" means the Andrew Yule and Company Limited, Calcutta, a company formed and registered under the Companies Act, 1956 (1 of 1956); (b) "appointed day" means the 1st day of April, 1986; (c) "Commissioner" means the Commissioner of Payments appointed under section 14; (d) "Company" means the Brentford Electric (India) Limited, a company within the meaning of the Companies Act, 1956 and..... View Complete Act List Judgments citing this sectionTitle : Acquisition and Transfer of the Undertakings of the Company
State : Central
Year : 1987
On the appointed day, the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, shall by virtue of this Act, stand transferred to, and vest in, the Central Government. Section 4 - General effect of vesting (1) The undertakings of the Company shall be deemed to include all assets, rights, lease-holds, powers, authorities and privileges, and all property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, cheques, demand drafts, reserve funds, investments, book debts, and all other right and interests in, or arising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the Company,..... View Complete Act List Judgments citing this sectionTitle : Schedule
State : Central
Year : 1987
THE SCHEDULE [See Sections 17, 19(1), 20(1) and 22(1)] ORDER OF PRIORITIES Category I- (a) Wages, salaries and other dues payable to the employees of the Company. (b) Deductions made from the salaries and wages of the employees of the Company for the provident fund, the Employees' State Insurance Fund, premium relating to the Life Insurance Corporation of India or for any other purpose. (c) Arrears in relation to contributions to be made by the Company to the provident fund, the Employees' State Insurance Fund or under any other law for the time being in force providing for such contributions. Post-take-over management period Category II- Principal amount of loans advanced by- (i) the Central Government; (ii) a State Government; (iii) banks and financial..... View Complete Act List Judgments citing this sectionTitle : Payment of Amounts
State : Central
Year : 1987
For the transfer to, and vesting, in the Central Government, under section 3, of the undertakings of the Company, and the right, title and interest of the Company in relation to its undertakings, there shall be paid by the Central Government to the Company in cash, and in the manner specified in Chapter VI, an amount of rupees thirty-seven lakhs and fifty thousand. Section 8 - Payment of further amounts (1) For the deprivation of the Company of the management of his undertakings, there shall be paid by the Central Government to the Company in cash, an amount calculated at the rate of five thousand rupees per annum for the period commencing on the date on which the management of the undertakings of the Company was taken over in pursuance of the order made by the Central Government..... View Complete Act List Judgments citing this sectionTitle : Provisions Relating to the Employees of the Company
State : Central
Year : 1987
(1) Every person who has been, immediately before the appointed day, employed in any undertakings of the Company shall become,- (a) on and from the appointed day, an employee of the Central Government, and (b) where the undertakings of the company are directed under sub-section (1) of section 6 to vest in Andrew Yule, an employee of Andrew Yule on and from the date of such vesting; and shall hold office or service under the Central Government of Andrew Yule, as the case may be, with the rights and privileges as to pension, gratuity and other matters admissible to him immediately before the appointed day, as modified by the Memoranda of Settlement signed by the representatives of the management and the employees of the Company on the 28th day of January, 1986 and the 30th day of..... View Complete Act List Judgments citing this sectionTitle : Commissioner of Payments
State : Central
Year : 1987
(1) The Central Government shall, for the purpose of disbursing the amounts payable under sections 7 and 8 to the Company, by notification, appoint a Commissioner of Payments. (2) The Central Government may appoint such other persons as it may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and different persons may be authorised to exercise different powers. (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they have been conferred on that person directly by this Act and not by way of authorisation. (4) The..... View Complete Act List Judgments citing this section