Title : Payment of Amounts
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. Section 8 - Payment of further amounts (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..... 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 : Provisions Relating to Employees of the Two Companies
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 : Commissioner of Payments
State : Central
Year : 1980
(1) The Central Government shall, for the purpose of disbursing the amounts payable under sections 7 and 8 to the jute companies, by notification, appoint a Commissioner of Payments. (2) The Central Government may appoint such other persons as it may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and different persons may be authorised to exercise different powers. (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they have been conferred on that person directly by this Act and not by way of authorisation. (4)..... View Complete Act List Judgments citing this sectionTitle : Miscellaneous
State : Central
Year : 1980
The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law, other than this Act, or in any decree or order of any court, tribunal or other authority. Section 25 - Assumption of liability (1) Where any liability of a jute company arising out of any item in any category specified in Part I of the Second Schedule is not discharged fully by the Commissioner out of the amounts paid to him under this Act, the Commissioner shall intimate in writing to the Central Government the extent of the liability which remains undischarged and that liability shall be assumed by the Central Government. (2) The Central Government may, by order, direct the..... View Complete Act List Judgments citing this sectionTitle : Disabilities
State : Central
Year : 1980
Notwithstanding anything contained insection 4, a person shall not be entitled to have his name entered in, or borne on, the Register if he-- (a) has not attained the age of twenty-one years at the time of his application for the entry of his name in the Register; or (b) is of unsound mind and stands so adjudged by a competent court; or (c) is an undercharged insolvent; or (d) being a discharged insolvent, has not obtained from the court a certificate staling that his insolvency was caused by misfortune without any misconduct on his part; or (e) has been convicted by a competent court, whether within or without India, of an offence involving moral turpitude and punishable with imprisonment or of an offence, not of a technical nature, committed by him in his professional..... View Complete Act List Judgments citing this sectionTitle : Payment of Further Amounts
State : Central
Year : 1980
(1) For the deprivation of the two companies of the management of their undertakings, there shall be given by the Central Government to each of the companies in cash, an amount calculated at the rate specified against the name of such company in the Second Schedule for the period commencing on the date on which the management of the undertakings of such 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) The amount specified to in section 7 and the amount 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..... View Complete Act List Judgments citing this sectionTitle : Payment of Further Amount
State : Central
Year : 1976
(1) In consideration of the retrospective operation of the provisions of sections 3, 4 and 5, there shall also be given, in cash, by the Central Government to each of the two companies an amount equal to an amount, calculated at the rates specified in section 5 of the Burn Company and Indian Standard Wagon Company (Taking Over of Management) Act, 1973(57 of 1973), for the period commencing on the appointed day and ending on the date of promulgation of the Ordinance. (2) The amount specified in section 7, and the amount determined under sub-section (1), shall carry simple interest at the rate of four per cent.per annum for the period commencing on the date of promulgation of the Ordinance and ending on the date on which payment of such amount is made by the Central Government to the..... View Complete Act List Judgments citing this sectionState : Central
Year : 1980
HIND CYCLES LIMITED AND SEN-RALEIGH LIMITED (NATIONALISATION) ACT, 1980 HIND CYCLES LIMITED AND SEN-RALEIGH LIMITED (NATIONALISATION) ACT, 1980 STATEMENT 0F OBJECTS AND REASONS The Hind Cycles Limited and Sen-Raleigh Limited have been engaged in the manufacture and production of bicycles and their component parts and accessories for more than two decades and they have developed a good brand image and adequate consumer acceptance for their products. These two companies account for a total annual capacity of more than ten lakhs of bicycles. However, as there had been a steady fall in production and the companies continued to incur cash losses the management of the two units of Hind Cycles Umited and Sen-Raleigh Limited, along with its associate and subsidiary units, was taken..... List Judgments citing this sectionTitle : Hind Cycles and Sen-raleigh Limited (Nationalisation) Act, 1980
State : Central
Year : 1980
Preamble1 - HIND CYCLES AND SEN-RALEIGH LIMITED (NATIONALISATION) ACT, 1980 Chapter I Section1 - Short title and commencement Section2 - Definitions Chapter II Section3 - Transfer to, and vesting in, the Central Government of the undertakings of the two companies Section4 - General effect of vesting Section5 - Owners of the two Companies to be liable for certain prior liabilities Section6 - Power of Central Government to direct vesting of the undertakings of the two companies in two Government Company Chapter III Section7 - Payment of amount Section8 - Payment of further amounts Chapter IV Section9 - Management, etc., of the undertakings of the two companies Section10 - Duty of persons in charge of management of undertakings of the two companies to deliver all assets, etc. ..... List Judgments citing this section