Title : Interest Payable by Occupiers of Factories and Owners of Mines
State : Central
Year : 1972
If any occupier of a factory or any owner of a limestone or dolomite mine fails to pay any amount payable by him to the Central Government under section 4 within the period prescribed therefor under that section, such occupier or owner, as the case may be, shall be liable to pay simple interest at twelve per cent, per annum on the amount to be paid, from the date on which such payment is due till such amount is actually paid. View Complete Act List Judgments citing this sectionTitle : Penalty for Non-payment of Duty of Excise Within the Prescribed Period
State : Central
Year : 1972
If any duty of excise payable by the occupier of the factory or the owner of the limestone or dolomite mine to the Central Government under section 4 is not paid to that Government within the period prescribed thereunder, it shall be deemed to be in arrears and the authority prescribed in this behalf may, after such inquiry as it deems fit, impose on the occupier of the factory or, as the case may be, on the owner of the limestone or dolomite mine a penalty not exceeding the amount of duty of excise in arrears : Provided that before imposing any such penalty such occupier or such owner, as the case may be, shall be given a reasonable opportunity of being heard and, if after such hearing the said authority is satisfied that the default was for any good and sufficient reason, no penalty..... View Complete Act List Judgments citing this sectionTitle : Time-limit for Completion of Acquisition Proceedings
State : Central
Year : 1972
1 [25A. Time-limit for completion of acquisition proceedings (1) The Collector shall, as far as possible, complete the proceedings under sections 19 to 25 (both inclusive), within a period of two years from the date of notification of declaration of sanctuary under section 18. (2) The notification shall not lapse if, for any reasons, the proceedings are not completed within a period of two years.] ___________________________ 1. Inserted by Act 16 of 2003, section 13 (w.e.f. 1-4-2003). View Complete Act List Judgments citing this sectionTitle : Amount to Be Paid for Acquisitions
State : Central
Year : 1972
(1) For the transfer of the shares of each Indian insurance company to, and vesting in, the Central Government, under section 4, there shall be paid by the Central Government to the Corporation, for distribution to the shareholders of each such company, the amount specified against such company in the corresponding entry under column 3 of Part A of the Schedule. (2) For the transfer to, and vesting in, the Central Government, under section 5, of the undertaking of each existing insurer, who is not an Indian Insurance Company there shall be paid by the Central Government to the Corporation, for payment to each such existing insurer, the amount specified against such insurer in the corresponding entry under column 8 of Part B of the Schedule. Section 12 - Disbursement of amounts by..... View Complete Act List Judgments citing this sectionTitle : Functions of Corporation and Acquiring Companies and their Management
State : Central
Year : 1972
( 1 ) The functions of the Corp oration sh all include-- (a) the carrying on of any part of the general insurance business, if it thinks it desirable to do so; (b) aiding, assisting and advising the acquiring companies in the matter of setting up of standards of conduct and sound practice in general insurance business and in the matter, of rendering efficient service to holders of policies of general insurance; (c) advising the acquiring companies in the matter of controlling their expenses including the payment of commission and o ther expenses; (d) advising the acquiring companies in the matter of the investment of their funds; (e) issuing directions to acquiring companies in relation to the conduct of general insurance business. 1[ Provided that all the functions of the..... View Complete Act List Judgments citing this sectionTitle : Constitution of Board of Trustees
State : Central
Year : 1948
1[3A. Constitution of Board of Trustees.-- (1) The Central Government may, by notification in the Official Gazette, constitute, with effect from such date as may be specified therein, a Board of Trustees for the territories to which this Act extends (hereinafter in this Act referred to as the Board) consisting of the following persons, namely :-- (a) a Chairman appointed by the Centrtal Government; (b) the Coal Mines Provident Fund Commissioner, ex Officio; (c) three persons appointed by the Central Government; (d) not more than six persons representing Governments of such States as the Central Government may specify in this behalf, from time to time, appointed by the Central Government; (e) six persons representing employers, appointed by the Central Government after..... View Complete Act List Judgments citing this sectionTitle : Penalty
State : Central
Year : 1948
1[(1) If any person-- (a) contravenes any provisions of this Act or of any scheme framed thereunder, he shall be punishable with imprisonment for a term whch may extend to six months, or with fine which may extend to one thousand rupees or with both; (b) who has been convicted of any offence punishable is aforesaid, si again guilty of any such offence within a period of two years from the date of the previous conviction, he shall be punishable on conviction with imprisonment for a term which may extend to one year, or with fine which may extend to two thousand rupees, or with both.] (2) No Court shall take cognizance of any offence punishable under2sub-section (1)] except on a report in writing of the facts constituting such offence made by an Inspector with the previous sanction..... View Complete Act List Judgments citing this sectionTitle : Repeal of Ordinance 7 of 1948
State : Central
Year : 1948
(1) The Coal Mines Provident Fund and Bonus Schemes Ordinance, 1948, is hereby repealed. (2) Notwithstanding any such repeal, anything done or any action taken in exercise of any power conferred by or under the said Ordinance shall be deemed to have been done or taken in exercise of the powers conferred by or under this Act as if this Act had commenced on the 23rd day of April, 1948. View Complete Act List Judgments citing this sectionTitle : Sick Textile Undertakings (Taking over of Management) Act, 1972
State : Central
Year : 1972
Preamble1 - THE SICK TEXTILE UNDERTAKINGS (TAKING OVER OF MANAGEMENT) ACT, 1972 Chapter 1 Section1 - Short title and commencement Section2 - Definitions Section3 - Act to override all other enactment, etc. Chapter 2 Section4 - Management of sick textile undertakings to vest in Central Government on the appointed day Section5 - Appointment of Custodian to take over the management of the sick textile undertaking Section6 - Payment of amount Chapter 3 Section7 - Power of Central Government to make certain declarations in relation to sick textile undertakings Chapter 4 Section8 - Textile companies not to wound up Section9 - Contracts, etc., in bad faith may be cancelled or varied Section10 - Power to terminate the contract of employment Section11 - Management of sick textile..... List Judgments citing this sectionState : Central
Year : 1972
IRON AND STEEL COMPANY (TAKING OVER OF MANAGEMENT) ACT, 1972 IRON AND STEEL COMPANY (TAKING OVER OF MANAGEMENT) ACT, 1972 50 of 1972 3rd September, 1972 STATEMENT OF OBJECTS AND REASONS The production of steel is vital to the economy of the country. At present, there is a wide gap between the demand and the domestic productin. It is, therefore, imperative that the production from the existing Steel Plants is increased to the maximum extent possible. 2. Government were viewing with great concern the progressive declare in the production of the Steel Plant of Indian Iron and Steel Company Ltd., and the deterioration in the condition of the Plant, resulting from lack of adequate attention to maintenance. Against the rated capacity of the Plant of one milion tonnes of steel..... List Judgments citing this section