Title : Payment of Amount
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. View Complete Act List Judgments citing this sectionTitle : Provident Fund and Other Funds
State : Central
Year : 1977
(1) Where the Company has established a provident fund, superannuation fund, welfare fund or other fund for the benefit of the persons employed in the undertakings of the Company, the monies relatable to the officers or other employees, whose services have become transferred by or under this Act to the Braithwaite and Company Limited, or the Government company, shall, out of the monies standing, on the appointed day, to the credit of such provident fund, superannuation fund, welfare fund and other fund, stand transferred to, and shall vest in, the Braithwaite and Company Limited, or the Government company, as the case may be. (2) The monies which stand transferred under sub-section (1) to the Braithwaite and Company Limited, or the Government company, as the case may be, shall be..... View Complete Act List Judgments citing this sectionTitle : Penalties
State : Central
Year : 1977
any person who, -- (a) having in his possession, custody or control any property forming part of the undertaking of the Company, wrongfully withholds such property from the Central Government or the Braithwaite and Company Limited, or the Government company; or (b) wrongfully obtains possession of, or retains, any property forming part of the undertaking of the Company or wilfully withholds or fails to furnish to the Central Government, or the Braithwaite and Company Limited, or the Government company or any person or body of persons specified by that Government or the Braithwaite and Company Limited, or the Government company, any document relating to such undertaking which may be in his possession, custody or control or fails to deliver to the Central Government or the Braithwaite..... View Complete Act List Judgments citing this sectionTitle : Payment of Further Amount
State : Central
Year : 1977
(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 consideration of the retrospective operation of the provisions of sections 3, 4 and 5, there shall also be given, in cash, by the Central Government to the Company, an amount equal to an amount calculated at the rate of rupees fifty thousand per annum for the period commencing on the appointed day and ending on the date of promulgation of the Ordinance. (3) The amount specified in section 8 and the..... View Complete Act List Judgments citing this sectionTitle : Employment of Certain Employees to Continue
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 : Transfer of and Vesting in the Central Government 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. View Complete Act List Judgments citing this sectionTitle : General Effect of Vesting
State : Central
Year : 1977
(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 outside India, and all books of account, registers and all other documents of whatever nature relating thereto. (2) All properties as aforesaid which have vested in the Central Government under section 3 shall, by force of such vesting, be freed and discharged from any trust,..... View Complete Act List Judgments citing this sectionTitle : Undisbursed or Unclaimed Amount to Be Deposited to the General Revenue Account
State : Central
Year : 1977
Any money paid to the Commissioner which remains undisbursed or unclaimed for a period of three years from the last day on which the disbursement was made shall be transferred by the Commissioner to the general revenue account of the Central Government; but a claim to any money so transferred may be preferred to the Central Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, the order, if any, for payment of the claim being treated as an order for the refund of the revenue. View Complete Act List Judgments citing this sectionTitle : Certain Powers of the Central Government or Braithwaite and Company Limited or Government Company
State : Central
Year : 1977
(1) The Central Government, or the Braithwaite and Company Limited, or the Government company, as the case may be, shall be entitled to receive up to the specified date, to the exclusion of all other persons, any money due to the Company, in relation to its undertakings which have vested in the Central Government, or the Braithwaite and Company Limited, or the Government company, realised after the appointed day notwithstanding that the realisations pertains to a period prior to the appointed day. (2) The Central Government, or the Braithwaite and Company Limited, or the Government company, as the case may be, may make a claim to the Commissioner with regard to every payment made by it after the appointed day for discharging any liability of the Company, in relation to any period..... View Complete Act List Judgments citing this sectionTitle : Disbursement of Amounts to the Company
State : Central
Year : 1977
(1) If, out of the monies paid to him in relation to the undertakings of the Company, there is a balance left after meeting the liabilities as specified in the Schedule, the Commissioner shall disburse such balance to the Company. (2) Where the possession of any machinery, equipment or other property, has vested in the Central Government or the Braithwaite and Company Limited, or the Government company, under this Act, but such machinery, equipment or other property does not belong to the Company, it shall be lawful for the Central Government or the Braithwaite and Company Limited, or the Government company to continue to possess such machinery, equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the appointed..... View Complete Act List Judgments citing this section