Title : Continuance of Employees
State : Central
Year : 1980
(1) Every person who has been, immediately before the appointed day, employed in any undertaking of any of the companies shall become,-- (a) on and from the appointed day, an employee of the Central Government,.and (b) Where the undertakings of the jute companies are vested in the Jute Manufactures Corporation, an employee of the said Corporation, on and from the date of such vesting, and shall hold office or service under the Central Government or the existing, or the Jute Manufactures Corporation as the case may be with the same right and privileges as to pension, gratuity and other matters, admissible to him if there had been no such vesting and shall continue to do so unless and until his employment under the Central Government or the Jute Manufacture Corporation, as the case..... View Complete Act List Judgments citing this sectionTitle : Transfer To, and Vesting In, the Central Government of the Undertakings of the Jute Companies
State : Central
Year : 1980
On the appointed day, the undertakings of each of the jute companies, and the right, title and interest of each of the jute companies in relation to its undertakings, shall, by virtue of the Act,.stand transferred to, and shall vest in, the Central Government. 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 sectionTitle : Duty of Persons to Account for Assets, Etc., in their Possession
State : Central
Year : 1980
(1) Any person who has, on the appointed day, in his possession or under his control any assets, books, documents or other papers relating to the undertakings owned by a jute company which has vested in the Central Government or the Jute Manufactures Corporation under this Act, shall be liable to account for the said assets, books, documents and other papers to the Central Government or the existing, or the Jute Manufactures Corporation and shall deliver them to the Central Government or the existing, or the Jute Manufactures Corporation or to such person or persons as the Central Government or the Jute Manufactures Corporation. (2) The Central Government or the Jute Manufactures Corporation may take, or cause to be taken, all necessary steps for securing possession of the..... 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 : Payment of Amount
State : Central
Year : 1980
Every jute company shall be given by the Central Government, for the transfer to, and vesting, in that Central Government, under section 3, of the undertakings of that company and the right, title and interest of that company in relation to its undertakings, in cash and in the manner specified in Chapter VI, such amount as is specified against the name of that company in the First Schedule. View Complete Act List Judgments citing this sectionTitle : Certain Powers of Central Government or Existing, or New, the Jute Manufactures Corporation
State : Central
Year : 1980
(1) The Central Government or the Jute Manufactures Corporation, as the case may be, shall be entitled to receive up to the specified date, to the exclusion of all other persons, any money due to the jute companies in relation to its undertakings which have vested in the Central Government or the Jute Manufactures Corporation, and realised after the appointed day notwithstanding that the realisation pertains to a period prior to the appointed day. (2) The Central Government, or the Jute Manufactures Corporation, as the case may be, may make a claim to the Commissioner with regard to every payment made by that Government or Corporation, after the appointed day, for discharging any liability of a jute company, not being any liability specified in sub-section (2) of section 5, in..... View Complete Act List Judgments citing this sectionTitle : Disbursement of Money by Commissioner
State : Central
Year : 1980
After admitting a claim against a jute company under this Act, the amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom such amount is due, and on such payment, the liability of such jute company in respect of such claim shall stand discharged. View Complete Act List Judgments citing this sectionTitle : General Power of Vesting
State : Central
Year : 1980
(1) The undertakings of each of the jute companies shall be deemed to include all assets, rights, lease-holds, powers, authorities and privileges, and all property, movable and immovable, including lands, buildings, workshops, stores, instruments, machinery and equipment, cash balances, cash on hand, reserve funds, investments, book debts, and all other rights and interests in, or arising out of such, property as were immediately before the appointed day in the ownership, possession power or control of jute company, whether within or outside India, and all books of account, registers and all other documents of whatever nature relating thereto and shall also be deemed to include the liabilities specified in sub-section (2) of section 5. (2) All properties as aforesaid which have vested..... View Complete Act List Judgments citing this sectionTitle : Admission or Rejection of Claims
State : Central
Year : 1980
(1) After examining the claims against a jute company, with reference to the priorities specified in the Second Schedule, the Commissioner shall fix a date on or before which every claimant against the company shall file the proof of his claim. (2) Not less than fourteen days' notice of the date so fixed shall be given by advertisement in one issue of any daily newspaper in the English language having circulation in the major part of the country and in one issue of any daily newspaper in such regional language as the Commissioner may consider suitable, and every such notice shall call upon the claimant to file the proof of his claim with the Commissioner within the period specified in the advertisement. (3) Every claimant who fails to file the proof of his claim within the period..... View Complete Act List Judgments citing this section