Bare Act Search Results

Laxmirattan and Atherton West Cotton Mills (Taking over of Management) Act, 1976 Complete Act

State: Central

Year: 1976

.....Government or the Custodian for any damage caused or likely to be caused by anything which is in good faith done or intended to be done under this Act. SECTION 11: CONTRACTS ETC. IN BAD FAITH MAY BE CANCELLED OR VARIED (1) If the Central Government is satisfied after such inquiry as it may think proper, that any contract or agreement entered into at any time within three years immediately preceding the appointed day between either of the two companies or managing or other director of any such company and any other person in relation to any service, sale or supply to, or by, the undertakings of either of the two companies and in force immediately before the appointed day, has been entered into in bad faith, or is detrimental to the interests of the undertaking of the concerned company, t may make, within one hundred and eighty days from the appointed day, an order cancelling or varying (either unconditionally or subject to such conditions as it may think fit to impose) such contract or agreement and thereafter the contract or agreement shall have effect accordingly: Provided that no contract or agreement shall be cancelled or varied except after giving to the parties to the.....