Bare Act Search Results

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Preamble 1

Title: Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978

State: Central

Year: 1978

.....Vishwamitri, Vadodara, for the purpose of ensuring the continuity of production of goods which are vital to meet the needs of the general public and for matters connected therewith or incidental thereto. WHEREAS Hindustan Tractors Limited, Vishwamitri, Vadodara, are engaged in the manufacture and distribution of tractors which are vital to meet the needs of the general public; AND whereas the management of the undertakings of Hindustan Tractors Limited was conducted in a manner highly detrimental to the public interest and had suffered heavy losses; AND whereas the management of the undertakings of Hindustan Tractors Limited was taken over by the Central Government under section 18A of the Industries (Development and Regulation) Act, 1951; AND whereas it is necessary to acquire the undertakings of Hindustan Tractors Limited to ensure the continuance of the production of goods which are vital to meet the needs of the general public. BE it enacted by Parliament in the Twenty-ninth Year of the Republic of India as follows :

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Complete Act

Title: Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978

State: Central

Year: 1978

.....the Commissioner Section20 - Priority of claims Section21 - Examination of claims Section22 - Admission or rejection of claims Section23 - Disbursement of amount by the Commissioner of claimants Section24 - Disbursement of amounts to the Company Section25 - Undisbursed or unclaimed amount to be deposited to the general revenue account Section26 - Assumption of liability Chapter VII Section27 - Act to have overriding effect Section28 - Provision relating to contracts Section29 - Transfer of assets, etc., to be void in certain cases Section30 - Protection of action taken in good faith Section31 - Penalties Section32 - Offences by companies Section33 - Delegation of powers Section34 - Power of Central Government to make rules Section35 - Power to remove difficulties Section36 - Declaration as to the policy of the State ScheduleI - SCHEDULE

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Complete Act

State: Central

Year: 1978

.....Corporation being the Authorised Controller. The period of the management will expire on the 11th March, 1979. The Company is engaged in the manufacture of agricultural tractors. After the take over of the management of the undertakings of the Company, The production in the Company, which had come to a standstill in November, 1972, has progressively improved. The net losses have come down from the level of Rs. 80 lakhs for the year ending March, 1973 to Rs.9 lakhs for the year ending March, 1977 and during 1977-78 they expect to achieve a nominal net profit of Rs.1 lakh. After careful consideration of the whole matter and with a view to improving the technical and economic viability of the undertakings, the Central Government have decided to acquire the undertakings of the Company and vest them in the State Government of Gujarat. 2. At the time of take over of the management of the undertakings of the Company, it was clear that it was not possible for the Company to meet all its past dues. Accordingly, the Central Government issued an order on the 26th April, 1973, under section 18FB of the Industries (Development and Regulation) Act, 1951, suspending the operation of all the.....

Indian Copper Corporation (Acquisition of Undertaking) Act, 1972 Section 6

Title: Power of Central Government to Direct Vesting of the Undertaking in Hindustan Copper

State: Central

Year: 1972

.....to vest in the Central Government, vest in Hindustan Copper either on the date of publication of the direction or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in that direction. (2) Where an order vesting the undertaking of the company in Hindustan Copper is made under sub-section (1), all the rights, liabilitlies and obligations of the Central Government in relation to the undertaking of the company shall, on and from the date of such vesting, be deemed to have become the rights, liabilities and obligations, respectively of Hindustan Copper. (3) Hindustan Copper shall, in the management and administration of the undertaking of the company, act in accordance with such directions, if any, as may be issued by the Central Government in this behalf. (4) Hindustan Copper may also apply to the Central Government at any time for instructions as to the manner in which the management of the undertaking of the company or in relation to any matter arising in the course of such management shall be conducted.

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Chapter I

Title: Preliminary

State: Central

Year: 1978

.....of India in the Ministry of Industrial Development No. S.O. 137 (E)/18A/INDRA/73, dated the 12th March, 1973, made under clause (b) of sub-section (1) of section 18 A of the Industries (Development and Regulation) Act, 1951; (c) 'bank' means (i) The State Bank of India constituted under the State Bank of India Act, 1955; (ii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959; (iii) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; (iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934; (d) "Commissioner" means the Commissioner of Payments appointed under section 16; (e) "Company" means Hindustan Tractors Limited, being a company as defined in the Companies Act, 1956, and having its registered office at Vishwamitri, Vadodara; (f) "Custodian" means the Custodian appointed under sub-section (3) of section 10 to take over, a carry on, the management of the undertakings of the Company; (g) "date of taking over" means, the date on which the management of the undertakings of the.....

Public Sector Iron and Steel Companies (Restructuring) Section 7

Title: Transfer of Immovable Properties of Hindustan Steel Limited to Metallurgical and Engineering Consultants (India) Limited

State: Central

Year: 1978

On the appointed day, the right, title and interest of the Hindustan Steel Limited in the immovable properties owned by it in Ranchi District of the State of Bihar, together with labilities and obligations in relation thereto, shall stand transferred to, and vest in, the Metallurgical and Engineering Consultants (India) Limited.

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Section 1

Title: Short Title and Commencement

State: Central

Year: 1978

(1) This Act may be called the Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978. (2) It shall into force on the 1st day of April, 1978.

Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978 Section 2

Title: Definition

State: Central

Year: 1978

.....of India in the Ministry of Industrial Development No. S.O. 137 (E)/18A/INDRA/73, dated the 12th March, 1973, made under clause (b) of sub-section (1) of section 18 A of the Industries (Development and Regulation) Act, 1951; (c) 'bank' means (i) The State Bank of India constituted under the State Bank of India Act, 1955; (ii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959; (iii) a corresponding new bank constituted under section 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; (iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the Reserve Bank of India Act, 1934; (d) "Commissioner" means the Commissioner of Payments appointed under section 16; (e) "Company" means Hindustan Tractors Limited, being a company as defined in the Companies Act, 1956, and having its registered office at Vishwamitri, Vadodara; (f) "Custodian" means the Custodian appointed under sub-section (3) of section 10 to take over, a carry on, the management of the undertakings of the Company; (g) "date of taking over" means, the date on which the management of the undertakings of the.....

Indian Copper Corporation (Acquisition of Undertaking) Act, 1972 Complete Act

State: Central

Year: 1972

.....restricting the use of such property in any manner shall be deemed to have been withdrawn. (3) Subject to the other provisions contained in this Act, all contracts and working arrangements which are subsisting immediately before the appointed day and affecting the company shall, in so far as they relate to the undertaking of the company, cease to have effect or be enforceable against the company or any person who was surety, or had guaranteed the performance thereof, and shall be of as full force and effect against or in favour of the Central Government and enforceable as fully and effectually as if instead of the company, the Central Government had been named therein or had been a party thereto. (4) Subject to the other provisions contained in this Act, any proceeding or cause of action pending or existing immediately before the appointed day by or against the company in relation to its undertaking in India may, as from such commencement, be continued and enforced by or against the Central Government as it might have been enforced by or against the company if this Act had not been passed, and shall cease to be enforceable by or against the company, its surety or guarantor. .....

Indian Copper Corporation (Acquisition of Undertaking) Act, 1972 Chapter II

Title: Acquisition of the Undertaking of the Indian Copper Corporation Limited

State: Central

Year: 1972

.....cause to be taken, all necessary steps for securing possession of all properties which have vested in that Government or Hindustan Copper under this Act. Section 8 - Duty to furnish particulars The company shall, within one month from the appointed day or such further period as the Central Government may allow in this behalf, furnish, in respect of the undertaking of the company, as on the appointed day, a complete inventory of -- (i) all the properties and assets; (ii) all the liabilities and obligations; and (iii) all agreements entered into by the company and in force on that day (including agreements, whether express or implied, relating to leave, pension, gratuity and other terms of service of any officer or other employee of the company), under which, by virtue of this Act, the Central Government or Hindustan Copper has, or will have, or may have, liabilities or obligations. and for this purpose, the Central Government or Hindustan Copper shall afford the company all reasonable facilities. Section 9 - Transfer of service of existing employees (1) Every officer or other employee employed, immediately before the appointed day, in connection with the affairs of.....