Title : Effect of Notify Order Appointing Directors or Managing Agents
State : Central
Year : 1951
(1) On the issue of a notify order under section 3. (a) all persons holding office as directors of the railway company immediately before the issue of the notify order shall be deemed to have vacated their offices as such; (b) any contract of management between the railway company and any managing agent there of holding office as such immediate before the issue of the notify order shall be deemed to has terminated; (c) the managing agent, if any appointed under this Act shall be deemed to have been duly appointed in pursuance of the Company Act and the memorandum and articles of association of the railway company, and the provisions of the Companies Act and of the memorandum and articles shall, subject to the other provisions contained in this Act, apply accordingly but no such..... View Complete Act List Judgments citing this sectionTitle : Application of the Companies Act
State : Central
Year : 1951
(1) Not with standing any thing contained in the Companies Act or in the memorandum or articles of association of the railway company, but subject to the other provisions contained in this Act,--- (a) it shall not be lawful for the shareholders of the railway company or any other person to nominate or appoint any person to be a director of the railway company; (b) no resolution passed at any meeting of the shareholders of the railway company shall be given effect to unless approved by the Central Government: (c) no proceeding for the winding-up of the railway company or for the appointment of a receiver in respect there of scallion any court, unless by or with the sanction of the Central Government. (2) Subject to the provisions contained in sub-section (1) and to the other..... View Complete Act List Judgments citing this sectionTitle : Cancellation of Appointment of Directors
State : Central
Year : 1951
(1) I fat any time it appears to the Central Government that the purpose of the notify order appointing the directors has been fulfilled or that for any other reason it is unnecessary that the notify order should remain in force, the Central Government may, by notify order, cancel the appointment of direct or made under this Act. (2) On the cancellation of any such appointment as is referred to in sub-section (1), the Central Government may--- (a) direct that all the property, effects and actionable claims of the railway company shall revert in the persons in whom they were vested before the issued of the notify order under section 3; or (b) reconstitute by fresh appointment a new body of persons to take charge of the management and administration of the whole affairs of the..... View Complete Act List Judgments citing this sectionTitle : Effect of Act on Other Laws
State : Central
Year : 1951
The provisions of this Act and of any notified order made there under shall have effect notwithstanding anything inconsistent therewith in any other law for the time being in force or in the memorandum or articles of association of the railway company or in any other instrument having effect by virtue of any law other than this Act, but save as aforesaid the provisions of this Act shall be in addition to, and no tin derogation of, any other law for the time being applicable to the railway company. View Complete Act List Judgments citing this sectionTitle : Definitions
State : Central
Year : 1951
(1) In this Act, unless the context otherwise requires.-- (a) "Companies Act" means the Indian Companies Act, 1913 (VII of 1913); (b) "directors" means the directors appointed under section 3; (c) "notify order" means an order notify in the Official Gazette; (d) "prescribed" means prescribed by rules made under this Act; (e) "railway company" means any company registered under the Companies Act or any law repealed thereby for the purpose of making and working or making or working a railway, whether alone or in conjunction with other purposes. View Complete Act List Judgments citing this sectionTitle : No Right to Compensation for Termination of Contract of Managing Agent or Any Other Contract
State : Central
Year : 1951
(1) Not with standing any thing contained in the Companies Act or in any other law for the time being in force, no managing agent shall be entitled to any compensation for the premature termination under this Act of any contract of management entered into by him with the railway company, and no person shall be entitled to compensation in respect of the cancellation or variation under this Act of any other contract or agreement. (2) Nothing contained in sub-section (1) shall affect the right of any such managing agent or person to recover from the railway company moneys recoverable otherwise than by way of such compensation. View Complete Act List Judgments citing this sectionTitle : Power to Make Rules
State : Central
Year : 1951
(1) The Central Government may by notify order, make rules to carryout the purposes of this Act. (2) In particular, and without prejudice to the generality of the foregoing power, any rules made under sub-section (1) may provide for-- (a) the manner in which or the conditions subject to which the direct or so managing agents of a railway company may exercise their powers under this Act; (b) the additional particulars which a statement under section 6 should contain; (c) the form in which a declaration under section 7 maybe made; (d) the appointment of a Railway Local Advisory Committee. (e) the manner in which books of account shall be maintained by the directors and audited; (f) the submission of specified or periodical returns and reports by the directors to any..... View Complete Act List Judgments citing this sectionTitle : Filling Up of Vacancies Among Directors
State : Central
Year : 1951
(1) Casual vacancies occurring in the body of directors, whether caused by death, resignation or otherwise, shall be filling by nomination by the Central Government. (2) No act of the directors shall be called in question on the ground merely of the existence of any vacancy among the directors or any defect in the appointment of any of them. View Complete Act List Judgments citing this sectionTitle : Delegation of Powers
State : Central
Year : 1951
The Central Government may, by notified order, direct that all or any of the power exercisable by it under this Act, except the powers given to it under section 3 to apply the provisions of this Act to any railway company or the powers given to it under section 12 or section 18, may be exercised by any State Government, and where any powers are so delegated, they shall be exercised subject to such directions as the Central Government may issue from time to time. View Complete Act List Judgments citing this sectionTitle : Directors to Be Public Servants
State : Central
Year : 1951
Every director appointed under section 3 shall be deemed to be a public servant with in the meaning of section 21 of the Indian Penal Code (Act XLV of 1860). View Complete Act List Judgments citing this section