Title : Preliminary
State : Central
Year : 1977
(1) This Act may be called the Gresham and Craven of India (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1977. (2) The provisions of sections 28 and 29 shall be deemed to have come into force on the 30th day of September, 1977 and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of August, 1977. Section 2 - Definitions In this Act, unless the context otherwise requires, -- (a) "appointed day" means the 1st day of August, 1977; (b) "Braithwaite and Company Limited" means the Government commissioner known as the Braithwaite and Company Limited in which the undertakings of the Braithwaite and Commissioner (India) Limited together with the right, title and interest of the said Company thereon vested with effect from..... View Complete Act List Judgments citing this sectionTitle : Gresham and Craven of Indian (Private) Limited(Acquisition and Transfer of Undertakings) Act, 1977
State : Central
Year : 1977
THE GRESHAM AND CRAVEN OF INDIAN (PRIVATE) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1977 [Act, No. 42 of 1977] [20th December, 1977] PREAMBLE An Act to provide for the acquisition and transfer of the undertakings of Messrs.Gresham and Craven of India (Private) Limited for the purpose of ensuring the continuity of production of goods which are vital to the needs of the Railways and of the industries manufacturing engineering products and for matters connected therewith or incidental thereto. WHEREAS MESSRS.Gresham and Craven of India (Private) Limited were engaged in the manufacture and production of components of rolling stock like vacuum brake equipment, ejectors, steam brake valves and vacuum exhausters and the like needed by the Railways and the industries..... View Complete Act List Judgments citing this sectionTitle : Gresham and Craven of Indian (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1977
State : Central
Year : 1977
Preamble1 - GRESHAM AND CRAVEN OF INDIAN (PRIVATE) LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1977 Chapter I Section1 - Short title and commencement Section2 - Definitions Chapter II Section3 - Transfer of and vesting in the Central Government of the undertakings of the Company Section4 - General effect of vesting Section5 - Central Government or the Braithwaite and Company Limited or the Government company not to be liable for prior liabilities Section6 - Vesting of the undertakings of the Company in the Braithwaite and Company Limited Section7 - Power of Central Government to direct vesting of the undertakings of the Company in a Government company Chapter III Section8 - Payment of amount Section9 - Payment of further amount Chapter IV Section10 - Management,..... List Judgments citing this sectionTitle : Miscellaneous
State : Central
Year : 1977
The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law, other than this Act, or in any decree or order of any court, tribunal or other authority. Section 25 - Contracts to cease to have effect unless ratified by the Central Government or the Braithwaite and Company Limited or Government company (1) Every contract entered into by the Company in relation to its undertakings for any service, sale or supply, and in force immediately before the appointed day, shall, on and from the expiry of one hundred and eighty days from that day, promulgation of the Ordinance, cease to have effect, unless such contract is, before the expiry of the..... View Complete Act List Judgments citing this sectionTitle : Short Title and Commencement
State : Central
Year : 1977
(1) This Act may be called the Gresham and Craven of India (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1977. (2) The provisions of sections 28 and 29 shall be deemed to have come into force on the 30th day of September, 1977 and the remaining provisions of this Act shall be deemed to have come into force on the 1st day of August, 1977. View Complete Act List Judgments citing this sectionTitle : Acquisition and Transfer of the Undertakings of the Company
State : Central
Year : 1977
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 shall vest in, the Central Government. Section 4 - General effect of vesting (1) The undertakings of the Company shall be deemed to include all ass, rights, lease-holds, powers, authorised and privileges, and all property, movable and immovable including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, reserve funds, investments, book debts and all other rights 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, whether within or..... View Complete Act List Judgments citing this sectionTitle : Management, Etc., of the Undertakings of the Company
State : Central
Year : 1977
(1) The Braithwaite and Company Limited in which the undertakings of the Company and the right, title and interest of the Company in relation to its undertakings vested under section 6 shall be entitled to exercise all such powers and do all such things as the Company is authorised to exercise and do in relation to its undertakings. (2) The general superintendence, direction, control and management of the affairs and business of the undertakings of the Company, the right, title and interest in relation to which have vested, under section 3, in the Central Government and, under section 6, in the Braithwaite and Company Limited shall, where a direction has been made by the Central Government under sub-section (1) of section 7, vest in the Government company so specified shall be..... View Complete Act List Judgments citing this sectionTitle : Payment of Amounts
State : Central
Year : 1977
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 given by the Central Government to the Company, in cash, and in the manner specified in Chapter VI, and amount of rupees one hundred and seventy-six lakhs. Section 9 - Payment of further amount (1) For the deprivation of the Company of the management of its undertakings, there shall be given to the Company by the Central Government an amount calculated at the rate of rupees fifty thousand per annum for the period commencing on the date on which the management of the undertakings of the Company was taken over by the Central Government and ending on the appointed day. (2) In..... View Complete Act List Judgments citing this sectionTitle : Provisions Relating to the Employees of the Company
State : Central
Year : 1977
(1) Every person who has been, immediately before the appointed day, employed in any undertaking of the Company shall become, on and from the appointed day, or such later date, as the case may be, an employee of the Braithwaite and Company Limited, or, as the case may be, of the Government company in which the right, title and interest of the Company in relation to its undertakings, have vested under this Act, and shall hold office or service under the Braithwaite and Company Limited, or the Government company , as the cash may be, with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Braithwaite and Company Limited, or the..... View Complete Act List Judgments citing this sectionTitle : Commissioner of Payments
State : Central
Year : 1977
(1) The Central Government shall, for the purpose of disbursing the amounts payable to the Company under sections 8 and 9, 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