Bare Act Search Results

Public Sector Iron and Steel Companies (Restructuring) Preamble 1

Title: Public Sector Iron and Steel Companies (Restructuring)and Miscellaneous Provisions Act, 1978

State: Central

Year: 1978

THE PUBLIC SECTOR IRON AND STEEL COMPANIES (RESTRUCTURING) AND MISCELLANEOUS PROVISIONS ACT, 1978 [Act, No.16 of 1978] [30th April, 1978] PREAMBLE An Act to provide for restructuring of the iron and steel companies in the public Sector so as to secure better management and grater efficiency in their working and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Twenty-ninth Year of the Republic of India as follows:

Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978 Complete Act

State: Central

Year: 1978

.....(1) In this Act, unless the context otherwise requires,- (a) "appointed day" means the date on which this Act comes into force: (b) "Companies Act" means the Companies Act, 1956-; (c) "corresponding unit", in relation to- (i) the Integral Company, means that unit of the Integral Company which corresponds to the unit of the dissolved company or the transferred company in which the concerned officer or other employee was holding office before the transfer of the said unit; (ii) a transferee company, means that unit of a transferee company which corresponds to the unit of the dissolved company in which the concerned officer or other employee was holding office before the transfer of the said unit; (d) "dissolved company" means a company specified in the First Schedule; (e) "Integral Company" means the Steel Authority of India Limited, a company formed and registered under the Companies Act having its registered office at New Delhi; (f) "transferee company" means the company to which the undertakings of a dissolved company or of a transferred unit, as the case may be, stand transferred by virtue of the provisions of this Act; (g) "transferred company" means,- (i) Metallurgical.....

Public 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

Public Sector Iron and Steel Companies (Restructuring) Chapter I

Title: Preliminary

State: Central

Year: 1978

..... (2) Words and expressions used herein and not defined but defined in the Companies Act have the meaning respectively assigned to them in that Act. Section 3 - Undertaking meaning of For the purposes of this Act, the undertaking of a dissolved company or of a transferred unit shall be deemed to include all assets, rights, leaseholds (including mining leases, if any), industrial or other licences, powers, authorities and privileges and all property, movable and immovable, including lands, buildings, works, mines, workshops, projects, smelters, stores, instruments machinery, automobiles and other vehicles, cash or bank balances, cash in hand, investments, and book debts 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 dissolved company or the transferred unit, as the case may be (whether within or without India), and all books of account, registers, maps, drawings, records of survey and all other documents of whatever nature relating thereto, and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind of the dissolved.....

Public Sector Iron and Steel Companies (Restructuring) Section 1

Title: Short Title and Commencement

State: Central

Year: 1978

( 1) This Act may be called the Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978. (2) It shall come into force on such date1as the Central Government may, by notification in the Official Gazette, appoint. ________________________ 1. 1-5-1978

Public Sector Iron and Steel Companies (Restructuring) Section 17

Title: Provision Relating to Auditors

State: Central

Year: 1978

Every person appointed under section 619 of the Companies Act as an auditor of a dissolved company or of a transferrred unit, holding office immediately before the appointed day, may continue to hold office as such auditor in the corresponding unit of the Integral Company or of any other transferee company, as the case may be for duration for which he was so appointed, on the same terms and conditions as were applicable to him immediately before the appointed day.

Public Sector Iron and Steel Companies (Restructuring) Schedule II

Title: Schedule

State: Central

Year: 1978

THE SECOND SCHEDULE [SEE SECTION 9] 1. Metallurgical and Engineering Consultants (India) Limited, a company formed and registered under the Companies Act having its registered office at Ranchi in the State of Bihar. 2. Hindustan Steelworks Construction Limited, a company formed and registered under the Companies Act having its registered office at Calcutta in the State of West Bengal. 3. National Mineral Development Corporation Limited, a company formed and registered under the Companies Act having its registered office at Hyderabad in the State of Andhra Pradesh, 4. Manganese Ore (India) Limited, a company formed and registered under the Companies Act having its registered office at Nagpur in the State of Maharashtra. 5. Mandovi Pellets Limited, a company formed and registered under the Companies Act having its registered office at Mormugao Harbour in the Union Territory of Goa, Daman and Diu

Public Sector Iron and Steel Companies (Restructuring) Schedule I

Title: Schedule

State: Central

Year: 1978

THE FIRST SCHEDULE [SEE SECTIONS 2(1)(D) AND 4] 1. Bhilai Ispat Limited, a company formed and registered under the Companies Act having its registered office at Bhilai in the State of Madhya Pradesh, 2. Bokaro Steel Limited, a company formed and registered under the Companies Act having its registered office al Bokaro Steel City in the State of Bihar. 3. Durgapur Mishra Ispat Limited, a company formed and registered under the Companies Act having its registered office at Durgapur in the State of West Bengal. 4. Hindustan Steel Limited, a company formed and registered under the Companies Act having its registered office at Ranchi in the State of Bihar. 5. Rourkela Ispat Limited, a company formed and registered under the Companies Act having its registered office at Rourkela in the State of Orissa. 6. SAIL International Limited, a company formed and registered under the Companies Act having its registered office at Calcutta in the State of West Bengal. 7. Salem Steel Limited a company formed and registered under the Companies Act having its registered office at Salem in the State of Tamil Nadu.

Public Sector Iron and Steel Companies (Restructuring) Section 26

Title: Act to Override the Provisions of Other Laws

State: Central

Year: 1978

The provisions of this Act or of any order made thereunder shall have effect notwithstanding anything contained in the Companies Act or in any other law for the time being in force or in any contract, express or implied, or in any rules or regulations having effect by virtue of any law other than this Act.

Public Sector Iron and Steel Companies (Restructuring) Section 24

Title: Saving of Legal Proceedings

State: Central

Year: 1978

If, on the appointed day, there is pending any suit, arbitration, appeal or other legal proceedings of whatever nature by or against a dissolved company, the same shall not abate, be discontinued or be in any way prejudicially affected by reason of the transfer under the provisions of this Act to the Integral Company or any other transferee company, as the case may be of the undertakings of the dissolved company or of anything contained in this Act, but the suit, arbitration, appeal or other proceeding may be continued, prosecuted and enforced by or against the Integral Company or other transferee company, as the case may be, in the same manner and to the same extent as it would or might have been continued prosecuted and enforced by or against the dissolved company if this Act had not been passed.