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Start Free TrialRichardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972 Chapter III
Title: Duty of Custodian to Reconstruct Register of Members of the Old Company
State: Central
Year: 1972
.....Custodian or the new company for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. Section 28 - Contracts etc. in bad faith may be cancelled or varied (1) If the Central Government is satisfied, after such inquiry as it thinks fit, that any contract or agreement entered into at any time within twelve months immediately preceding the appointed day, between the old company and any other person has been entered into in bad faith and is detrimental to the interest of the old company or of the flew company, it may make an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) the contract or agreement and thereafter the contract or agreement shall have effect accordingly ; Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the contract or agreement a reasonable opportunity of being heard. (2) Any person aggrieved by an order made under sub-section (1) may make an application to the Tribunal for the variation or reversal of such order and thereupon the Tribunal may confirm, modify or reverse such.....
View Complete Act List Judgments citing this sectionRichardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972 Part IV
Title: Miscellaneous
State: Central
Year: 1972
.....Custodian or the new company for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. Section 28 - Contracts etc. in bad faith may be cancelled or varied (1) If the Central Government is satisfied, after such inquiry as it thinks fit, that any contract or agreement entered into at any time within twelve months immediately preceding the appointed day, between the old company and any other person has been entered into in bad faith and is detrimental to the interest of the old company or of the flew company, it may make an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) the contract or agreement and thereafter the contract or agreement shall have effect accordingly ; Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the contract or agreement a reasonable opportunity of being heard. (2) Any person aggrieved by an order made under sub-section (1) may make an application to the Tribunal for the variation or reversal of such order and thereupon the Tribunal may confirm, modify or reverse such.....
View Complete Act List Judgments citing this sectionRichardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972 Section 28
Title: Contracts Etc. in Bad Faith May Be Cancelled or Varied
State: Central
Year: 1972
(1) If the Central Government is satisfied, after such inquiry as it thinks fit, that any contract or agreement entered into at any time within twelve months immediately preceding the appointed day, between the old company and any other person has been entered into in bad faith and is detrimental to the interest of the old company or of the flew company, it may make an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) the contract or agreement and thereafter the contract or agreement shall have effect accordingly ; Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the contract or agreement a reasonable opportunity of being heard. (2) Any person aggrieved by an order made under sub-section (1) may make an application to the Tribunal for the variation or reversal of such order and thereupon the Tribunal may confirm, modify or reverse such order.
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