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Home Bare Acts Phrase: section 7 of the act enables the government to transfer the undertaking to a government company as defined underInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 5
Title : Companies to Be Liable for Certain Prior Liabilities
State : Central
Year : 1984
.....supplies becomes due and payable. (3) for the removal of doubts, it is hereby declared that - (a) save as otherwise expressly provided in this section or in any other provision of this Act, no liability, other than the liability specified in sub-section (2), of either of the two companies in relation to its undertakings in respect of any period prior to the appointed day shall l be enforceable against the Central Government, or, where the undertakings of the two companies vest in an existing, or a new, Government company, against such Government company; (b) no award, decree or order of any court, tribunal or other authority in relation to the undertakings of either of the two companies, passed on or after the appointed day, in respect of any matter, claim or dispute, not being a matter, claim or dispute in relation to any matter referred to in sub-section (2), which arose before that day, shall be enforceable against the Central Government, or where the undertakings of the two companies vest in an existing, or a new, Government company, against such Government company; (c) no liability incurred by either of the two companies before the appointed day, for the.....
View Complete Act List Judgments citing this sectionHind Cycles and Sen-raleigh Limited (Nationalisation) Act, 1980 Section 5
Title : Owners of the Two Companies to Be Liable for Certain Prior Liabilities
State : Central
Year : 1980
.....supplies becomes due and payable. (3) For the removal of doubts, it is hereby declared that- (a) save as otherwise expressly provided in this section or in any other provision of this Act, no liability, other than the liability specified in sub-section (2), of either of the two companies in relation to its undertakings in respect of any period prior to the appointed day shall l be enforceable against the Central Government, or, where the undertakings of the two companies are directed, under section 6, to vest in Government company, against the concerned Government company; (b) no award, decree or order of any court, tribunal or other authority in relation to the undertakings of either of the two companies, passed on or after the appointed day, in respect of any matter, claim or dispute, not being a matter, claim or dispute in relation to any matter referred to in sub-section (2), which arose before that day, shall be enforceable against the Central Government, or where the undertakings of the two companies are directed, under section 6, to vest in Government company, against the concerned Government company; (c) no liability incurred by either of the two companies.....
View Complete Act List Judgments citing this sectionBurn Company and Indian Standard Wagon Company (Nationalisation) Act, 1976 Section 5
Title : Owners of the Two Companies to Be Liable for Certain Prior Liabilities
State : Central
Year : 1976
.....other dues become due and payable. (3) For the removal of doubts, it is hereby declared that,- (a) save as otherwise expressly provided in this section or in any other provision of this Act, no liability, other than the liability specified in sub-section (2), of either of the two companies in relation to its undertakings in respect of any period prior to the appointed day, shall be enforceable against the Central Government, or, where the undertakings of the two companies are directed, under section 6, to vest in a Government company, against that Government company; (b) no award, decree or order of any court, tribunal or other authority in relation to the undertakings of either of the two companies, passed after the appointed day, in respect of any matter, claim or dispute, not being a matter, claim or dispute in relation to any matter referred to in sub-section (2), which arose before that day, shall be enforceable against the Central Government or, where the undertakings of the two companies are directed, under section 6, to vest in a Government company, against that Government company; (c) no liability incurred by either of the two companies before the appointed day,.....
View Complete Act List Judgments citing this sectionInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Complete Act
Title : Inchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984
State : Central
Year : 1984
..... Section21 - Admission or rejection of claims Section22 - Disbursement of money by Commissioner Section23 - Disbursement of amounts to the companies Section24 - Undisbursed or unclaimed amount to be deposited with the general revenue account Chapter VII Section25 - Act to have overriding effect Section26 - Contracts to cease to have effect unless ratified by the Central Government or existing, or new, Government company Section27 - Penalties Section28 - Offences by companies Section29 - Protection of action taken in good faith Section30 - Delegation of powers Section31 - Power to make rules Section32 - Power to remove difficulties Section33 - Repeal and saving ScheduleI - FIRST SCHEDULE ScheduleII - SECOND SCHEDULE
List Judgments citing this sectionPublic Sector Iron and Steel Companies (Restructuring) Complete Act
Title : Public Sector Iron and Steel Companies (Restructuring)
State : Central
Year : 1978
.....- Provisions relating to officers and other employees of dissolved companies Section15 - Provisions relating to officers and employees of transferred units Section16 - Provisions relating to directors Section17 - Provision relating to auditors Section18 - Compensation for transfer not payable Section19 - Provident Fund Section20 - Gratuity, welfare and other funds Chapter V Section21 - Provisions with respect to income-tax and sur-tax Section22 - Taxes, fees and other charges not payable Chapter VI Section23 - Savings of contracts etc Section24 - Saving of legal proceedings Section25 - Power to remove difficulties Section26 - Act to override the provisions of other laws Section27 - Power to amend memorandum and articles of association ScheduleI - SCHEDULE ScheduleII - SCHEDULE
List Judgments citing this sectionInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 6
Title : Power of Central Government to Direct Vesting of the Undertakings of the Two Companies in an Existing Government Company
State : Central
Year : 1984
.....to vest in the Central Government, vest in that existing Government company either on the date of the notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification. (2) Where the right, title and interest of the two companies, in relation to their undertakings vest, under sub-section (1), in an existing Government company, that Government company shall, on and from the date of such vesting, be deemed to have become, and, until the transfer of the undertakings, by virtue of the provisions of section 7, to a new Government company, be deemed to be, the owner in relation to such undertakings, and the rights and liabilities of the Central Government in relation to such undertakings shall, on and from the date of such vesting, be deemed to have become, and, until the date of such transfer, be deemed to be, the rights and liabilities, respectively, of that existing Government company.
View Complete Act List Judgments citing this sectionInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 7
Title : Transfer of the Undertakings of the Two Companies from an Existing Government Company to a New Government Company
State : Central
Year : 1984
(1) Notwithstanding anything contained in sections 3 and 4, where the undertakings of each of the two companies have been directed, under sub-section (1) of section 6, to vest in an existing Government company , the Central Government may, if it is satisfied that a new Government company is willing to comply, or has complied, with such terms and conditions as that Government may think fit to impose, declare, by notification, that the undertakings of each of the two companies and the right, title and interest of each of the two companies in relation to its undertakings be transferred to that new Government company, and on the issue of such declaration, the right, title and interest of each of the two companies in relation to its undertakings which had been directed under sub-section (1) of section 6 vest in an existing Government company, shall, instead of continuing to vest in that existing Government Company, vest in that new Government company with effect from the date on which such declaration is made. (2) Where the right, title and interest of the existing Government company in relation to the undertakings of the two companies vest, under sub-section (1), in a new.....
View Complete Act List Judgments citing this sectionKosangas Company Acquisition of Undertaking Act, 1979 Complete Act
Title : Kosangas Company Acquisition of Undertaking Act, 1979
State : Central
Year : 1979
Preamble1 - KOSANGAS COMPANY ACQUISITION OF UNDERTAKING ACT, 1979 Chapter I Section1 - Short title and commencement Section2 - Definitions Chapter II Section3 - Transfer and vesting in the Central Government of the undertaking Section4 - Gocul Gas Private Limited and Kosangas company to be liable for certain prior liabilities Section5 - Special provision as to certain rights and interests held before the appointed day Section6 - Removal of doubts Section7 - Power of Central Government to direct vesting of undertaking in a Government company Chapter III Section8 - Payment of amount Chapter IV Section9 - Transfer of services of existing employees Section10 - Provident and other funds Section11 - Contracts to continue unless terminated by Central Government Chapter V Section12 - Effect of Act on other laws Section13 - Duty to deliver possession of properties etc. Section14 - Penalties Section15 - Offences by Companies Section16 - Protection of action taken in good faith Section17 - Cognizance of offences Section18 - Indemnity Section19 - Power to remove difficulties Section20 - Power to make rules
List Judgments citing this sectionInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 3
Title : Transfer To, and Vesting In, the Central Government of the Undertakings of the Two Companies
State : Central
Year : 1984
On the appointed day, the undertakings of each of the two companies, and the right, title and interest of each of the two companies in relation to its undertakings, shall, by virtue of the Act,.stand transferred to, and shall vest in, the Central Government.
View Complete Act List Judgments citing this sectionInchek Tyres Limited and National Rubber Manufacturers Limited Nationalisation Act, 1984 Section 11
Title : Duty of Persons in Charge of Management of Undertakings of the Two Companies to Deliver All Assets, Etc
State : Central
Year : 1984
(1) On the vesting of the management of the undertakings of the two companies in an existing, or a new, Government company, all person in charge of the management of the undertakings of either of the two companies immediately before such vesting shall be bound to deliver to such Government company, all assets, books of account, registers and other documents in their custody relating to the undertakings. (2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the existing, or new, Government company and such Government company may also, if it is considered necessary so to do, apply to the Central Government at any time for instructions as to the manner in which the management of the undertakings of the two companies shall be conducted or in relation to any other matter arising in the course of such management.
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