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Industries (Development and Regulation) Act, 1951 Complete Act

State: Central

Year: 1951

.....SECTION 09: IMPOSITION OF CESS ON SCHEDULED INDUSTRIES IN CERTAIN CASES (1) There may be levied and collected as a cess for the purposes of this Act on all goods manufactured or produced in any such scheduled industry as may be specified in this behalf by the Central Government by notified order a duty of excise at such rate as may be specified in the notified order, and different rates may be specified for different goods or different classes of goods: Provided that no such rate shall in any case exceed 13 paise per cent of the value of the goods. (2) The cess shall be payable at such intervals, within such time and in such manner as may be prescribed, and any rules made in this behalf may provide for the grant of a rebate for prompt payment of the cess. (3) The said cess may be recovered in the same manner as an arrear of land revenue. (4) The Central Government may hand over the proceeds of the cess collected under this section in respect of the goods manufactured or produced by any scheduled industry or group of scheduled industries to the Development Council established for that industry or group of industries, and where it does so, the Development Council shall utilise.....

Industries (Development and Regulation) Act, 1951 Chapter III-AC

Title: Liquidation or Reconstruction of Companies

State: Central

Year: 1951

.....but such powers shall not be exercised after the making of an order under sub-section (1) or, as the case may be, under sub-section (2) of this section. Section 18FE - Provisions where Government decides to follow the course of action specified in Section 18-FD (1) (1) The provisions hereinafter laid down shall apply where the Central Government decides that the course of action specified in sub-section (1) of Section 18-FD should be followed, namely : (a) the decision of the Central Government that the course of action specified in Cl. (a) of sub-section (1) Section 18-FD should be followed in relation to a company owning an industrial undertaking shall be deemed to be a ground specified in Section 433 of the Companies Act, 1956 (1 of 1956), on which the company may be wound up by the High Court ; (b) the authorised person shall, as soon as may be, after the decision specified in Cl. (a) of sub-section (1) of Section 18-FD has been taken by the Central Government, present an application to the High Court for the winding-up of the company owning the industrial undertaking; (c) when an application is made by the authorised person, under Cl. (b), for the winding-up,.....

Industries (Development and Regulation) Act, 1951 Section 18FG

Title: Preparation of Inventory of Assets and Liabilities and List of Members Andcreditors of Managed Company

State: Central

Year: 1951

.....of this Act, the authorised person shall, as soon as may be, after taking over the management of the industrial undertaking of a company under Section 18-A or Section 18-AA or Section 18-FA,-- (a) prepare a complete inventory of-- (i) all properties, movable and immovable, including lands, buildings, works, workshops, stores, instruments, plant, machinery, automobiles and other vehicles, stocks of materials in the course of production, storage or transit, raw materials, cash balances, cash in hand, deposits in bank or with any other person or body or on loan, reserve funds, investments and book debts and all other rights and interests arising out of such property as were immediately before the date of taking over of the industrial undertaking, in the ownership, possession, power or control of the company, whether within or without India ; and all books of account, registers, maps, plans, sections, drawings, records, documents or titles of ownership of property and all other documents of whatever nature relating thereto ; and (ii) all borrowings, liabilities and obligations of whatever kind of the company including liability on account of terminal benefits to its.....

Industries (Development and Regulation) Act, 1951 Schedule I

Title: The First Schedule

State: Central

Year: 1951

1[THE FIRST SCHEDULE [See Sections 2 and 3(i)] Any industry engaged in the manufacture or production of any of the articles mentioned under each of the following headings or sub-headings, namely : 1. METALLURGICAL INDUSTRIES : A. Ferrous : (1) Iron and steel (metal). (2) Ferro-alloys. (3) Iron and steel castings and forgings. (4) Iron and steel structurals. (5) Iron and steel pipes. (6) Special steels (7) Other products of iron and steel. B. Non-ferrous : 2[(1) Precious metals, including gold and silver and their alloys. (1-A) Other non-ferrous metals and their alloys.] (2) Semi-manufactures and manufactures. 2. FUELS : (1) Coal, lignite, coke and their derivatives. (2) Mineral oil (crude oil), motor and aviation spirit, diesel oil, kerosene oil, fuel oil, diverse hydrocarbon oils and their blends including synthetic fuels, lubricating oils and the like. (3) Fuel gases--(coal gas, natural gas and the like.) 3. BOILERS AND STEAM GENERATING PLANTS : Boilers and steam generating plants. 4. PRIME MOVERS (OTHER THAN ELECTRICAL GENERATORS ) : (1) Steam engines and turbines. (2) Internal combustion engines. 5. ELECTRICAL EQUIPMENT : .....