Bare Act Search Results

Burmah Oil Company (Acquisition of Shares of Oil India Limited and of the Understakings in India or Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited) Act, 1981 Complete Act

State: Central

Year: 1981

.....Government company to take all necessary steps for taking possession of all properties, which have been transferred to. and vested in it under this Act. SECTION 15: CONTRACTS TO CONTINUE UNLESS TERMINATED BY CENTRAL GOVERNMENT - (1) Every contract, other than an Agreement referred to in sub-section (6) of section. entered into by a specified company for any service, sale or supply in India and into force immediately before the appointed day. shall, unless terminated under sub-section (2). within a period of two years from the appointed day. continue to be of full force .and effect against or in favour of the Central Government or. as the case may be. the successor Government company (2) The Central Government may. if it is satisfied that any contract referred to in sub-section (1) is unduly onerous or has been entered into in bad faith or is detrimental to the interests of that Government or the successor Government company as the case may, be. by order in writing; either terminate such contract or make such alterations or modifications therein as it may think in . Provided that the Central Government shall not terminate any contract or make any alteration or modification.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Preamble 1

Title: The Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981

State: Central

Year: 1981

.....and , control over , a significant portion of crude oil , gas and petroleum products produced , marketed and distributed in India by reason of the fact that Oil India Limited , wherein it holds fifty percent , of the shares , and one of its subsidiaries , namely , the Assam Oil Company limited are carrying on the business of exploration and production of crude oil , gas and petroleum products , and the said Assam Oil Company Limited is also carrying on through its undertakings in India and through the undertaking in India of "The Burmah Oil Company (India Trading) Limited" another of the subsidiaries of " The Burmah Oil Company Limited", the business of marketing and distribution of petroleum products; AND WHEREAS it is expedient in the public interest that the shares of the said Oil India Limited held by " The Burmah Oil Company Limited " and the undertakings in India of the said Assam Oil Company Limited and "The Burma Oil Company (India Trading) Limited " should be acquired; AND WHEREAS such acquisition is for giving effect to the policy of the state towards securing the principle specified in clause (b) of article 39 of the constitution as the ownership and control of.....