Title : Disbursement of the Amount by the Commissioner to the Claimants
State : Karnataka
Year : 1996
After admitting a claim under this Act the amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom such amount is due and on such payment, the liability in relation to the Estate in respect of such claims shall stand discharged. View Complete Act List Judgments citing this sectionTitle : Fund
State : Karnataka
Year : 1996
(1) There shall be a fund called the Board Fund which shall be administered by the Board. (2) The following shall form part of, or be paid into, the Board Fund, namely.-- (i) the income from Estate or proceeds of any property vested in the Board; (ii) all fees and charges paid to, or levied by or on behalf of, the Board under this Act; (iii) all grants and contributions made by the State Government or any other authority; (iv) all contributions and donations made by any person; (v) sums raised by way of loan by the Board with the previous sanction of the State government; (vi) any other sums. View Complete Act List Judgments citing this sectionTitle : Owners or Transferees to Be Liable for Certain Prior Liabilities
State : Karnataka
Year : 1996
(1) Every liability of the owners or transferees in relation to the Estate in respect of any period prior to the appointed day, shall be the liability of such owners or transferees, as the case may be, and shall be enforceable against them and not against the State Government or where the Estate is directed under section 6 to vest in the Board, against the Board. (2) For the removal of doubts it is hereby declared that,- (a) save as otherwise expressly provided in this section or in any other section of the Act, no liability of the owners or transferees in relation to the Estate in respect of any period prior to the appointed day shall be enforceable against the State Government or where the Estate is directed under section 6 to vest in the Board, against the Board; (b) no award,..... View Complete Act List Judgments citing this sectionTitle : Power of State Government to Direct Vesting of the Estate in the Board
State : Karnataka
Year : 1996
(1) Notwithstanding anything contained in sections 3 and 4, the State Government shall direct by notification, that the Estate which was vested in the State Government under section 3, shall instead of continuing to vest in the State Government, vest in the Board with effect from the appointed day. (2) Where the right, title and interest in relation to the Estate vest in the Board under sub-section (1) the Board shall on and from the date of such vesting be deemed to have become the owner in relation to such Estate and all the rights and liabilities of the State Government under the Act on and from the date of such vesting be deemed to have become the rights and liabilities of the Board. View Complete Act List Judgments citing this sectionTitle : General Effect of Vesting
State : Karnataka
Year : 1996
(1) The Estate shall be deemed to include all assets, rights, leaseholds, powers, authorities and privileges and all property, movable and immovable, including buildings, jewellery, painting, art works and all other rights and interests in or arising out of such property, as were immediately before the appointed day in the ownership, possession, power or control of the owners or transferees and all books of accounts, registers and other documents of whatever nature relating thereto. (2) All properties aforesaid, which have vested in the State Government under section 3 shall, by virtue of such vesting be freed and discharged from any trust, obligation, mortgage, lease, charge, lien and all other encumbrances affecting them and any attachment, injunction or decree or order of any court..... View Complete Act List Judgments citing this sectionTitle : Payment of Further Amounts
State : Karnataka
Year : 1996
(1) The amount specified in section 7 shall carry simple interest at the rate of four percent 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 State Government to the Commissioner. (2) The amount determined in accordance with the provisions of sub-section (1) shall be given by the State Government to the owners, transferees and such other persons entitled thereto, as the case may be, in addition to the amount specified in section 7. (3) For the removal of doubts it is hereby declared that the liability of the owners or transferees in relation to the Estate which has vested in the State Government under section 3 shall be discharged from out of the amount referred to in section 7 and also from out of the..... View Complete Act List Judgments citing this sectionTitle : Priority of Claims
State : Karnataka
Year : 1996
The claims made under section 15 shall have priorities in accordance with the following principles, namely:- (a) Category I shall have precedence over all other categories and Category II shall have precedence over category-III and so on; (b) the claims specified in each of the categories shall rank equally and be paid in full, but if the amount is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly; and (c) the question of discharging any liability with regard to a matter specified in a lower category shall arise only if surplus is left after meeting all the liabilities specified in the immediately higher category. View Complete Act List Judgments citing this sectionTitle : Power to Borrow
State : Karnataka
Year : 1996
The Board may, with the previous sanction of the State Government and subject to such conditions as may be prescribed borrow any sum for the purpose of this Act. View Complete Act List Judgments citing this sectionTitle : Protection of Action Taken in Good Faith
State : Karnataka
Year : 1996
(1) No. suit, prosecution or other legal proceeding shall lie against the State Government or the Board or any Officer or other employee of the State Government or the Board or other person authorised by the State Government or the Board for anything which is in good faith done or intended to be done under this Act. (2) No suit or other legal proceeding shall lie against the State Government or the Board or any officer or other employee of the State Government or the Board or other person authorised by the State Government or the Board for any damage caused or likely to be caused by anything which is in good faith done or intended to be done. View Complete Act List Judgments citing this sectionTitle : Admission or Rejection of Claims
State : Karnataka
Year : 1996
(1) After examining the claims with reference to the priorities specified in Schedule II, the Commissioner shall fix a certain date on or before which every claimant shall file the proof of his claim. (2) Not less than fourteen days notice of the date so fixed shall be given by advertisement in one issue of a daily newspaper in the English language having wide circulation in the country and one issue of a daily newspaper in the Kannada language, having wide circulation in the State and every such notice shall call upon the claimant to file the proof of his claim with the Commissioner within the time specified in the advertisement. (3) Every claimant, who fails to file the proof of his claim within the time specified by the Commissioner shall be excluded from the disbursement made by..... View Complete Act List Judgments citing this section