Title : Payment of Further Amounts
State : Central
Year : 1980
(1) Every jute company shall be given by the Central Government, for the deprivation of the management of its undertakings, an amount of rupee ten thousand per annum for the period commencing on the date on which management of the undertaking of that company was taken over in pursuance of the orders made by the Central Government under the provisions of the Industries (Development and Regulation) Act, 1951(65 of 1951) and ending on the appointed day. (2) Every amount specified in the First Schedule or calculated in accordance with the provisions of sub-section (1) shall carry simple interest at the rate of four per cent per annum for the period commencing on the appointed day and ending on the date on which payment of such amounts is made by the Central Government to the Commissioner...... 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 : 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 : Duty of Persons in Charge of Management of the Undertakings to Deliver All Assets Etc
State : Central
Year : 1980
(1) On the vesting of the management of the undertakings of the jute companies in the Central Government or the Jute Manufactures Corporation, as the case may be, the persons in charge of the management of such undertakings immediately before such vesting shall be bound to deliver to the Central Government or the Jute Manufactures Corporation, as the case may be all assets books of account registers and all other documents in their custody relating to such undertakings (2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the Jute Manufactures Corporation and the said Corporation may also if it is considered necessary so to do apply to the Central Government at any time for instructions as the manner in which the management..... View Complete Act List Judgments citing this sectionTitle : Disbursement of Amounts to the Companies
State : Central
Year : 1980
(1) If, out of the monies paid to him in relation to a jute company, there is a balance left after meeting the liabilities as specified in the Second Schedule, the Commissioner shall disburse such balance to such jute company. (2) Where the possession of any machinery, equipment or other property possessed by a jute company has vested in the Central Government or the Jute Manufactures Corporation under this Act, but such machinery, equipment or other property does not belong to such jute company, it shall be lawful for the Central Government or as the case may be, the Jute Manufactures Corporation, to continue to possess such machinery or equipment or other property on the same terms and conditions under which they were possessed by such jute company immediately before the appointed..... View Complete Act List Judgments citing this sectionTitle : Management to Continue to Vest in Certain Persons Until Alternative Arrangements Have Been Made
State : Central
Year : 1980
Notwithstanding the vesting under this Act of the Undertakings of any jute company in the Central Government or the Jute Manufactures Corporation-- (a) any person who has been managing the affairs of such undertakings before the date on which the undertakings had so vested shall, until alternative arrangements have been made by the Central Government or, as the case may be, the Jute Manufactures Corporation, for he management of such undertakings, continue to manage the affairs of the undertakings, or, as the case may be, the Jute Manufactures Corporation, to manage such undertakings; (b) such person shall, until alternative arrangements have been made by the Central Government, or, as the case may be, the Jute Manufactures Corporation, continue to be authorised to operate, in..... View Complete Act List Judgments citing this sectionTitle : Contracts to Cease to Have Effect Unless Ratified by the Central Government or Jute Manufactures Corporation
State : Central
Year : 1980
Every contract entered into by any jute company in relation to any of the undertaking owned by it, which has vested in the Central Government under section 3 for any service, sale or supply, and in force immediately before the appointed day, shall, on and from the expiry of a period of one hundred and eighty days from the appointed days, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing, by the Central Government or the Jute Manufactures Corporation and in ratifying such contract, the Central Government or the Jute Manufactures Corporation may make such alteration or modification therein as it may think fit: Provided that the Central Government or the Jute Manufactures Corporation shall not omit to ratify a contract and shall not make..... 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 : Management, Etc., of the Under Takings of the Jute Companies
State : Central
Year : 1980
The general superintendence, direction, control and management of the affairs and business of the undertakings owned by each of the jute companies, the right, title and interest in relation to which have vested in the Central Government under section 3 shall, where a direction has been made by the Central Government under sub-section (1) of section 6 vest in the Jute Manufactures Corporation and thereupon the Jute Manufactures Corporation shall be entitled to exercise, to the exclusion of all other persons, all such powers and do all such things in relation to each such undertaking as the jute company which owned it was authorised to exercise and do immediately before the appointed day. View Complete Act List Judgments citing this section