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Home Bare Acts Phrase: refractoryAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Chapter II
Title: Acquisition of the Refractory Plant
State: Central
Year: 1976
.....Central Government may take or cause to be taken all necessary steps for securing possession of the Refractory Plant which has vested in it under section 3. Section 7 - Duty to furnish particulars The Company shall, within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all the properties and assets of the Company as on the appointed day, pertaining to the Refractory Plant which has vested in the Central Government under section 3, and for this purpose the Central Government or the Government company shall afford the Company all reasonable facilities. Section 8 - Company to be liable for certain prior liabilities (1) Every liability, other than the liability specified in sub-section (2), of the Company in relation to the Refractory Plant in respect of any period prior to the appointed day, shall be the liability of the Company and shall be enforceable against it and not against the Central Government or the Government company. (2) Any liability in respect of-- (a) the amounts advanced to the Company (after the management of the Refractory Plant had been taken over by the Central Government) by the.....
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Preamble 1
Title: Assam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976
State: Central
Year: 1976
.....and other difficulties, and the pilot Refractory Plant, which was constructed by the said company, has been closed: AND whereas special type of refractories, including high alumina refractories, needed by the iron and steel industry may be manufactured at the Refractory Plant of the Assam Sillimanite Limited and such manufacture will enable the country to progressively reduce the import of such special type of refractories; AND whereas for the purpose of speedily bringing the Refractory Plant of the. Assam Sillimanite Limited into operation, the management of the said Refractory Plant was taken over, for a limited period by the Central Government under section 18AA of the Industries (Development and Regulation) Act, 1951; AND whereas for the purpose of augmenting the supplies of refractories to meet the essential requirements of the iron and steel industry, it is necessary to acquire the right, title and interest of the Assam Sillimanite Limited in respect of its Refractory Plant; BE it enacted by Parliament in the Twenty-sixth Year of the Republic of India as follows:--
View Complete Act List Judgments citing this sectionAsian Refractories Ltd. Act 1971 Preamble 1
Title: The Asian Refractories Limited (Acquisition of Undertaking)act, 1971
State: Central
Year: 1971
THE ASIAN REFRACTORIES LIMITED (ACQUISITION OF UNDERTAKING) Act, 1971 [Act, No. 65 OF 1971] [23rd December, 1971] PREAMBLE An Act to provide for the acquisition of the undertaking of the Asian Refractories Limited for the purpose of augmenting supplies of refractories to meet the essential requirements of the iron and steel industry. WHEREAS the Asian Refractories Limited is in liquidation and has stopped its production; AND WHEREAS the total production of refractories in India is inadequate and insufficient to meet the essential requirements of the iron and steel industry; AND WHEREAS the supplies of refractories can be augmented by speedily bringing the Asian Refractories Limited into operation and expanding its capacity thereafter; BE it enacted by Parliament in the Twenty-second Year of the Republic of India as follows: --
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Section 6
Title: Duty to Deliver Possession of the Refractory Plant and Documents Relating Thereto
State: Central
Year: 1976
.....a Government company under this Act, and which belong to the Company or would have so belonged if the Refractory Plant had not vested in the Central Government or the Government company shall be liable to account for the said books, documents and other papers to the Central Government or the Government company, as the case may be, and shall deliver them up to the Central Government or the Government company or to such person or body of persons as the Central Government or the Government company may specify in this behalf. (3) The Central Government may take or cause to be taken all necessary steps for securing possession of the Refractory Plant which has vested in it under section 3.
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Complete Act
Title: Assam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976
State: Central
Year: 1976
.....- Priority in relation to other claims Section18 - Claims to be made to the Commissioner Section19 - Proof of claims Section20 - Disbursement of money by the Commissioner to claimants Section21 - Undisbursed or unclaimed amount to be deposited to the general revenue account Chapter VII Section22 - Penalties Section23 - Offences by companies Section24 - Act to have overriding effect Section25 - Protection of action taken in good faith Section26 - Contracts to cease to have effect unless ratified by the Central Government or Government company Section27 - Delegation of powers Section28 - Power to make rules Section29 - Power to remove difficulties Section30 - Declaration as to the policy of the State
List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Section 4
Title: Power of Central Government to Direct Vesting of the Refractory Plant in a Government Company
State: Central
Year: 1976
.....appointed day) as may be specified in that direction. (2) Where an order for vesting of the Refractory Plant in a Government company is made under sub-section (1), all the rights and obligations of the Central Government in relation to the Refractory Plant shall, on and from the date of such vesting, be deemed to have become the rights and obligations, respectively, of the Government company. (3) The Government company shall, in the management and administration of the Refractory Plant, act in accordance with such directions, if any, as may be issued by the Central Government in this behalf. (4) The Government company may also apply to the Central Government at any time for instructions as to the manner in which the management of the Refractory Plant shall be conducted or in relation to any matter arising in the course of such management.
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Chapter V
Title: Provisions Relating to Employees of Refractory Plant
State: Central
Year: 1976
.....not availed of or other payment, not being payment by way of gratuity or pension, such person may, except to the extent such liability has been taken over by the Central Government under sub-section (2) of section 8, enforce his claim against the Company but not against the Central Government or the Government company. Section 13 - Provident and other funds (1) Where the Company has established a provident fund, superannuation, welfare or other fund for the benefit of the persons employed in the Refractory Plant, the monies relatahle to the employees whose services have become transferred by or under this Act to the Central Govrnment or a Governmnet company shall, out of the monies standing, on the appointed day, to the credit of such provident fund, superannuation, welfare or other fund, stand transferred to, and vested in, the Central Government or the Government company, as the case may be. (2) The monies which stand transferred, under sub-section (1), to the Central Government or a Government company, shall be dealt with by that Government or Government company, as the case may be, in such manner as may be prescribed.
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Section 3
Title: Refractory Plant to Vest in the Central Government
State: Central
Year: 1976
On the appointed day, the Refractory Plant shall, by virtue of this Act, stand transferred to, and the right, title and interest of the Company in relation to its Refractory Plant shall vest absolutely in, the Central Government.
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Section 9
Title: Amount to Be Paid for Transfer and Vesting of Refractory Plant
State: Central
Year: 1976
(1) The Company shall be given by the Central Government in cash and in the manner specified in Chapter VI, an amount of one crore seven lakhs and seventeen thousand rupees for the transfer to, and vesting in, it, under S. 3 of the Refractory Plant. (2) The amount payable under sub-section (1) shall carry simple interest at the rate of four per cent, per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the Central Government to the Commissioner. (3) For the removal of doubts, it is hereby declared that the liabilities of the Company in relation to the Refractory Plant, other than those referred to in sub-section (2) of section 8, shall be met from the amount referred to in sub-section (1), in accordance with the rights and interests of the creditors of the Company.
View Complete Act List Judgments citing this sectionAssam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 Chapter IV
Title: Management, Etc. of Refractory Plant
State: Central
Year: 1976
On the commencement of this Act, the general superintendence, direction, control and management of the affairs and business of the Refractory Plant shall,-- (a) where a direction has been made by the Central Government under section 4, vest in the Government company specified in such direction, or (b) where no such direction has been made, vest in such person or body of persons as may be appointed by the Central Government in this behalf, and thereupon the Government company so specified or the person or body of persons so appointed, as the case may be, shall be entitled to exercise all such powers and do all such things as the Company is authorised to exercise and do in relation to the Refractory Plant.
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