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Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Preamble 1

Title: Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984

State: Central

Year: 1984

.....1984] PREAMBLE An Act to provide for the acquisition and transfer of the undertakings of the Inchek Tyres Limited and the National Rubber Manufacturers Limited, with a view to securing the proper management of such undertakings so as to subserve the interest of the general public by ensuring the continued manufacture, production and distribution of tyres, tubes and other rubber goods which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto. WHEREAS the Inchek Tyre Limited and the National Rubber Manufacturers Limited has been engaged in the manufacture, production and distribution of articles mentioned in the First Schedule to the Industries (Development and Regulation) Act, 1951, namely, tyres, tubes and other rubber goods; And WHEREAS the management of the undertakings of the Inchek Tyres Limited and the management of the undertakings of the National Rubber Manufacturers Limited were taken over by the Central Government under the provisions of the Industries (Development and Regulation) Act, 1951; And WHEREAS it is necessary to acquire the undertakings of the Inchek tyres Limited and the National.....

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Complete Act

Title: Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984

State: Central

Year: 1984

..... Section21 - Admission or rejection of claims Section22 - Disbursement of money by Commissioner Section23 - Disbursement of amounts to the companies Section24 - Undisbursed or unclaimed amount to be deposited with the general revenue account Chapter VII Section25 - Act to have overriding effect Section26 - Contracts to cease to have effect unless ratified by the Central Government or existing, or new, Government company Section27 - Penalties Section28 - Offences by companies Section29 - Protection of action taken in good faith Section30 - Delegation of powers Section31 - Power to make rules Section32 - Power to remove difficulties Section33 - Repeal and saving ScheduleI - FIRST SCHEDULE ScheduleII - SECOND SCHEDULE

Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984 Complete Act

State: Central

Year: 1984

INCHEK TYRES LIMITED AND NATIONAL RUBBER MANUFACTURERS LIMITED (NATIONALISATION) ACT, 1984 INCHEK TYRES LIMITED AND NATIONAL RUBBER MANUFACTURERS LIMITED (NATIONALISATION) ACT, 1984 17 of 1984 31st March, 1984 STATEMENT OF OBJECTS AND REASONS Act No. 17 of 1984.- The Inchek Tyres Limited commenced production of automobile tyres and tubes in Kakinara (West Bengal) in 1963. The undertaking started showing unfavourable operational results after 1970 and by June, 1977 the company had an accumulated loss of Rs. 8.9 crores as against the paid up capital of Rs. 3 crores. The management of the undertaking was taken under the Industries (Development and Regulation) Act, 1951, on the 13th April, 1978. The undertaking employs about 1,380 persons. 2. The National Rubber Manufacturers Limited, Calcutta, have two units. The unit at Tangra (Calcutta) produces cycle tyres, tubes and rubber goods like fan and V belts, transmission and conveyor belts, hoses, etc., and the other unit at Kalyani produces reclaimed rubber. In early 1970s, the production at both the units was affected due to labour trouble, erratic power supply, shortage of certain raw materials and poor quality of the.....

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Chapter I

Title: Preliminary

State: Central

Year: 1984

(1) This Act may be called the Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984. (2) It shall be deemed to have come into force on the 14th day of February, 1984. Section 2 - Definitions In this, Act, unless the context otherwise requires,- (a) "appointed day" means the 14th day of February, 1984; (b) "Commissioner" means the Commissioner of Payments appointed under section 15; (c) "existing Government company" means a Government company which is carrying on business on the appointed day; (d) "new Government company" means a Government company formed and registered on or after the appointed day; (e) "notification" means a notification published in the Official Gazette; (f) "prescribed" means prescribed by rules made under this Act; (g) "specified date", in relation to any provision of this Act, means such date as the Central Government may, by notification, specify for the purposes of that provision, different dates may be specified for different provisions of this Act; (h) "two companies" means the Inchek Tyres Limited and the National Rubber Manufacturers Limited, being companies as defined in the Companies Act,.....

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 1

Title: Short Title and Commencement

State: Central

Year: 1984

(1) This Act may be called the Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984. (2) It shall be deemed to have come into force on the 14th day of February, 1984.

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 2

Title: Definitions

State: Central

Year: 1984

.....on or after the appointed day; (e) "notification" means a notification published in the Official Gazette; (f) "prescribed" means prescribed by rules made under this Act; (g) "specified date", in relation to any provision of this Act, means such date as the Central Government may, by notification, specify for the purposes of that provision, different dates may be specified for different provisions of this Act; (h) "two companies" means the Inchek Tyres Limited and the National Rubber Manufacturers Limited, being companies as defined in the Companies Act, 1956, and having their registered offices at "Leslie House", 19- Jawaharlal Nehru Road, Calcutta-700013; (i) words and expressions used herein and not defined but defined in the Companies Act, 1956, shall have the meanings respectively assigned to them in that Act.

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Chapter VII

Title: Miscellaneous

State: Central

Year: 1984

.....modification or annulment shall be without prejudice to the validity of anything previously done under that rule. Section 32 - Power to remove difficulties If any difficulty arises in giving effect to the provisions of this Act the Central Government may by order, not inconsistent with the provisions of this Act, remove the difficulty: Provided that no such order shall be made after the expiry of a period of two years from the appointed day. Section 33 - Repeal and saving (1) The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Ordinance, 1984, is hereby repealed. (2) Notwithstanding such repeal anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act.

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 33

Title: Repeal and Saving

State: Central

Year: 1984

(1) The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Ordinance, 1984, is hereby repealed. (2) Notwithstanding such repeal anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act.

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Schedule I

Title: First Schedule

State: Central

Year: 1984

THE FIRST SCHEDULE [See sections 4(4), 8 and 16(1)] Sl.No Name of the Company Amount (Rupees in lakhs) 1. Inchek Tyres Limited 330.40 2. National Rubber Manufacturers Limited 159.64

Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Chapter II

Title: Acquuiaiton and Transfer of the Chapter Ii Undertakings of the Two Companies

State: Central

Year: 1984

.....proceeding may be continued, prosecuted or enforced by or against the Central Government, or where the undertakings of the two companies vest under section 6 or section 7 in an existing, or a new, Government company, by or against such Government company. Section 5 - Companies to be liable for certain prior liabilities (1) Every liability, other than the liability specified in sub-section (2), of each of the two companies in respect of any period prior to the appointed day, shall be the liability of the concerned company and shall be enforceable against it and not against the Central Government, or where the undertakings of the two companies vest in an existing, or a new, Government company, against such Government company. (2) Any liability arising in respect of materials supplied to either of the two companies after the management of its undertakings had been taken over by the Central Government, shall, on and from the appointed day, be the liability of the Central Government or of the existing, or new, Government company aforesaid, and shall be discharged by that Government or, as the case may be, the existing, or new, Government company, as and when repayment for such.....