Bare Act Search Results

Public Sector Iron and Steel Companies (Restructuring) Section 4

Title: Dissolution, Transfer and Vesting of Undertakings of Certain Companies in Integral Company

State: Central

Year: 1978

On the appointed day, the companies specified in the First Schedule shall stand dissolved and, subject to the provisions of Sections 6 and 7, all the undertakings of such companies shall stand transferred to, and vest in the Integral Company.

Public Sector Iron and Steel Companies (Restructuring) Section 5

Title: Transfer and Vesting of Kiriburu Iron Ore Mines Etc., Integral Company

State: Central

Year: 1978

On the appointed day, the undertakings of the following transferred units shall stand transferred to, and vest in, the Integral Company, namely : (a) Kiriburu Iron Ore Mines, a unit of the National Mineral Development Corporation Limited, and (b) Meghahatuburu Iron Ore Project, a unit of the National Mineral Development Corporation Limited.

Public Sector Iron and Steel Companies (Restructuring) Section 9

Title: Transfer of Shares Held by Integral Company to Central Government

State: Central

Year: 1978

On the appointed day, all the shares held by the Integral Company in the share capital of each of the companies specified in the Second Schedule shall stand transferred to, and vest in, the Central Government.

Public Sector Iron and Steel Companies (Restructuring) Section 10

Title: Transfer of Shares Held by Integral Company to Bharat Refractories Limited

State: Central

Year: 1978

On the appointed day, all the shares held by the Integral Company in the share capital of the India Firebricks and Insulation Company Limited (a company formed and registered under the Companies Act having its registered office at Bombay in the State of Maharashtra) shall stand transferred to and vest in, the Bharat Refractories Limited.

Public Sector Iron and Steel Companies (Restructuring) Section 11

Title: Transfer of Shares Held by Central Government to Integral Company

State: Central

Year: 1978

On the appointed day, all the shares held by the Central Government in the share capital of the Indian Iron and Steel Company Limited (a company under the Companies Act having its registered office at Calcutta in the State of West Bengal) shall stand transferred to, and vest in, the Integral Company.

Public Sector Iron and Steel Companies (Restructuring) Section 13

Title: Power of Central Government to Modify Amount of Paid-up Share Capital of Integral Company, Etc. and Issue of Shares

State: Central

Year: 1978

.....or immovable properties, as the case may be, under the provisions of this Act. (2) In specifying the amount under sub-section (1), the Central Government shall have regard to the following factors, namely : (i) the book value of shares referred to in section 8, 9, 10 or 11, as the case may be, of the concerned company, on the appointed day, (ii) the net value of the undertakings of the dissolved company and transferred unit, as on the appointed day, and (iii) the book value of the immovable properties owned by the Hindustan Steel Limited referred to in section 7, as on the appointed day, as are transferred to or from the companies referred to in sub-section (1). (3) Every order made under sub-section (1) shall be made within a period of one year from the appointed day and any such order may take effect prospectively or retrospectively, but not with effect from a date earlier than the appointed day. (4) Any order made by the Central Government under this section may include a direction for the issue or cancellation of appropriate number of shares so as to give effect to the provisions of this Act.

Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978 Complete Act

State: Central

Year: 1978

.....(1) In this Act, unless the context otherwise requires,- (a) "appointed day" means the date on which this Act comes into force: (b) "Companies Act" means the Companies Act, 1956-; (c) "corresponding unit", in relation to- (i) the Integral Company, means that unit of the Integral Company which corresponds to the unit of the dissolved company or the transferred company in which the concerned officer or other employee was holding office before the transfer of the said unit; (ii) a transferee company, means that unit of a transferee company which corresponds to the unit of the dissolved company in which the concerned officer or other employee was holding office before the transfer of the said unit; (d) "dissolved company" means a company specified in the First Schedule; (e) "Integral Company" means the Steel Authority of India Limited, a company formed and registered under the Companies Act having its registered office at New Delhi; (f) "transferee company" means the company to which the undertakings of a dissolved company or of a transferred unit, as the case may be, stand transferred by virtue of the provisions of this Act; (g) "transferred company" means,- (i) Metallurgical.....

Public Sector Iron and Steel Companies (Restructuring) Chapter V

Title: Financial Provisions

State: Central

Year: 1978

.....contained in the Income-tax Act or the Companies (Profits) Surtax Act. Explanation. For the purposes of this section, (a) "Income-tax Act" means the Income-tax Act, 1.961; (b) "Companies (Profits) Surtax Act" means the Companies (Profits) Surtax Act, 1964; (c) words and expressions used in this section and not defined in this Act but defined in the income-tax Act or the Companies (Profits) Surtax Act shall have the meanings respectively assigned to them in the said Acts. Section 22 - Taxes, fees and other charges not payable For the removal of doubts, it is hereby declared that no exists, duties, fees or other charges of whatever nature (including registration charges) shall be payable in respect of any transfer of shares or transfer of any undertakings or transfer of any immovable property under the provisions of this Act.

Public Sector Iron and Steel Companies (Restructuring) Section 21

Title: Provisions with Respect to Income-tax and Sur-tax

State: Central

Year: 1978

.....asset forming part of any undertaking belonging to the transferred unit or, as the case may be, the Hindustan Steel Limited is, in pursuance of section 5 or section 6 or section 7, transferred to, and vests in, the Integral Company or the Bharat Refractories Limited or, as the case may be, the Metallurgical and Engineering Consultants (India) Limited such capital asset shall be deemed to have been transferred in a scheme of amalgamation and the provisions of the Income-tax Act shall, so far as may be, apply accordingly as if references in the said Act to the amalagamating company were references to the transferred unit or, as the case may be, the Hindustan Steel Limited and the references to the amalgamated company, being an Indian company, were references to the Integral Company or the Bharat Refractories Limited or, as the case may be, the Metallurigical and Engineering Consultants (India) Limited. (6) The accumulated loss and the unabsorbed depreciation, if any, of any dissolved company shall be deemed to be the loss or, as the case may be, allowance for depreciation of the Integral Company for the previous year in which the undertaking of the dissolved company vested.....

Public Sector Iron and Steel Companies (Restructuring) Chapter III

Title: Transfer of Shares

State: Central

Year: 1978

.....or immovable properties, as the case may be, under the provisions of this Act. (2) In specifying the amount under sub-section (1), the Central Government shall have regard to the following factors, namely : (i) the book value of shares referred to in section 8, 9, 10 or 11, as the case may be, of the concerned company, on the appointed day, (ii) the net value of the undertakings of the dissolved company and transferred unit, as on the appointed day, and (iii) the book value of the immovable properties owned by the Hindustan Steel Limited referred to in section 7, as on the appointed day, as are transferred to or from the companies referred to in sub-section (1). (3) Every order made under sub-section (1) shall be made within a period of one year from the appointed day and any such order may take effect prospectively or retrospectively, but not with effect from a date earlier than the appointed day. (4) Any order made by the Central Government under this section may include a direction for the issue or cancellation of appropriate number of shares so as to give effect to the provisions of this Act.