Title : Jute Companies (Nationalisation) Act, 1980.
State : Central
Year : 1980
THE JUTE COMPANIES (NATIONALISATION) ACT, 1980 [Act, No. 62 of 1980] [21st December, 1980] PREAMBLE An Act to provide for the acquisition and transfer of the undertakings of the Jute Companies, specified in the First Schedule 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 articles, made of jute, which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto. WHEREAS the said Jute Companies has been engaged in the manufacture and production of articles mentioned in the First Schedule to the Industries (Development and Regulation) Act, 1951(65 of 1951), namely, textiles made wholly..... View Complete Act List Judgments citing this sectionState : Central
Year : 1980
JUTE COMPANIES (NATIONALISATION) ACT, 1980 JUTE COMPANIES (NATIONALISATION) ACT, 1980 1. The management of M/s. Alexandra Jute Mills Limited, M/s. Union Jute Company Limited, M/s. Khardah Company Limited, M/s, Kinnison Jute Mills Company Limited and M/s. RBHM Jute Mills Private Limited, was taken over after proper investigations, by the Central Government under the provisions of the Industries (Development and Regulation) Act; 1951during 1977 and 1978. 2. These companies together have an installed productive capacity of over 88,000 metric tonnes to produce jute goods which are essential to the needs of the economy of the country. A labour complement of over 17,000 is also involved. 3. The investigation reports, feasibility reports, viability studies, etc. undertaken before the..... List Judgments citing this sectionTitle : Jute Companies (Nationalisation) Act, 1980.
State : Central
Year : 1980
Preamble1 - JUTE COMPANIES (NATIONALISATION) ACT, 1980. Chapter I Section1 - Short title Section2 - Definitions Chapter II Section3 - Transfer to, and vesting in, the Central Government of the undertakings of the jute companies Section4 - General Power of vesting Section5 - Jute companies to be liable for certain prior liabilities Section6 - Power of Central Government to direct vesting of the undertakings of the jute companies in Jute Manufactures Corporation Chapter III Section7 - Payment of amount Section8 - Payment of further amounts Chapter IV Section9 - Management, etc., of the under takings of the jute companies Section10 - Duty of persons in charge of management of the undertakings to deliver all assets etc Section11 - Duty of persons to account for assets, etc., in..... List Judgments citing this sectionTitle : First Schedule
State : Central
Year : 1980
THE FIRST SCHEDULE [ See sections 2(c), 7, 8 and 15(1)(a) ] Sl. No Name of the Company Amount (Rupees in lakhs) 1. Alexandra Jute Mills Limited, Chartered Bank Buildings. 4, Netaji Subhas Road, Calcutta-700001 353.60 2. Union Jute Company Limited Chartered Bank Buildings, 4, Netaji Subhas Road, Calcutta- 700001 461.32 3. Khardah Company Limited, 7, Red Cross Place, Calcutta-700001 486.68 4. The Kinnison Jute Mills Company Limited, Chartered Bank Buildings, 4, Netaji Subhas Road, Calcutta-700001 644.70 5. R.B.H.M.Jute Mills Private Limited, P.O.Katihar Mills, ..... View Complete Act List Judgments citing this sectionTitle : Preliminary
State : Central
Year : 1980
This Act may be called the Jute Companies (Nationalisation) Act, 1980. Section 2 - Definitions In this, Act, unless the context otherwise requires,-- (a) "appointed day" means the date of commencement of this Act; (b) "Commissioner" means the Commissioner of Payments appointed under section 14; (c) "jute companies" means the companies (being companies as defined in the Companies Act, 1956(1 of 1956)) specified in the First Schedule; (d) "Jute Manufactures Corporation" means the National Jute Manufactures Corporation Limited, a company incorporated and registered under the Companies Act, 1956(1 of 1956); (e) "notification" means a notification published in the Official Gazette; (f) "prescribed" means prescribed by rules made under this Act; (g) "specified date", in..... View Complete Act List Judgments citing this sectionTitle : Short Title
State : Central
Year : 1980
This Act may be called the Jute Companies (Nationalisation) Act, 1980. View Complete Act List Judgments citing this sectionTitle : Power of Central Government to Direct Vesting of the Undertakings of the Jute Companies in Jute Manufactures Corporation
State : Central
Year : 1980
(1) Notwithstanding anything contained in section 3 and 4, the Central Government shall, as soon as may be, after the appointed day, direct, by notification, that the undertakings of every jute company and the right, title and interest of every jute company in relation to its undertakings, which have vested in the Government under section 3, and such of the liabilities of every jute company as or specified in sub-section (2) of section 5, shall, instead of continuing to vest in the Central Government, vest in the Jute Manufactures Corporation either on the date of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification. (2) Where the right, title and interest of the liabilities referred to in..... View Complete Act List Judgments citing this sectionTitle : Penalties
State : Central
Year : 1980
Any person who-- (a) having in his possession, custody or control any property forming part of the undertaking owned by any jute company, wrongfully withholds such property from the Central Government or the Jute Manufactures Corporation; or (b) wrongfully obtains possession of or retains, any property forming part of any undertaking owned by any jute company; or (c) wilfully withholds or fails to furnish to the Central Government or the Jute Manufactures Corporation or any person or body of persons specified by that Government or Corporation, as the case may be, any document or inventory relating to such undertaking, owned by any jute company, which may be in his possession, custody or control; or (d) fails to deliver to the Central Government or the Jute Manufactures..... View Complete Act List Judgments citing this sectionTitle : Second Schedule
State : Central
Year : 1980
THE SECOND SCHEDULE [ See sections 17, 19(1), 20(1), 22(1) and 25(1) ] ORDER OF PRIORITIES Part I Category I -- Employees' dues on account of unpaid salaries, wages, provident fund, Employees' State Insurance Contribution or premium relating to the Life Insurance Corporation of India and any other amounts due to employees in respect of any period whether before or after the management of the undertakings of any jute company had been taken over by the Central Government. Category II-- Secured loans obtained by any jute company from nationalised banks and public financial institutions during any period whether before or after the management of the undertakings of that company had been taken over by the Central Government. Category III-- (a) Any credits availed for trade..... View Complete Act List Judgments citing this sectionTitle : Jute Companies to Be Liable for Certain Prior Liabilities
State : Central
Year : 1980
(1) Every liability, other than the liability specified in sub-section (2), of a jute company in respect of any period prior to the appointed day, shall be the liability of that company and shall be enforceable against it and not against the Central Government, or, where the undertakings of the jute company vest in the Jute Manufactures Corporation, by or against that Corporation. (2) Any liability arising in respect of loans advanced by the Central Government or any State Government, or both, to a jute company (together with interest due thereon) after the management of its undertakings of the said jute company had been taken over by the Central Government, shall, on and from the appointed day, be the liability of the Central Government and shall be discharged by that Government or,..... View Complete Act List Judgments citing this section