Title : Short Title and Commencement
State : Central
Year : 1976
(1) The Act may be called the Iron and Steel Company (Acquisition of Shares) Act, 1976. (2) It shall be deemed to have come into force on the 17th day of July, 1976. View Complete Act List Judgments citing this sectionTitle : Payment of Amount
State : Central
Year : 1976
(1) For the transfer to, and vesting in the Central Government, under section 3, of the shares of the Company, there shall be given by the Central Government to the shareholders of the company, in cash and in the manner specified in section 6, an amount of rupees seven crores, twenty three lakhs, ninety five thousand and one hundred and thirty seven and fifteen paise. (2) The amount referred to in 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. View Complete Act List Judgments citing this sectionTitle : Miscellaneous
State : Central
Year : 1976
The provisions of this Act shall have effect notwithstanding anything inconsistent therewith contained in any law, other than this Act or in any instrument having effect by virtue of any law other than this Act. Section 14 - Penalties If any person,-- (a) makes any claim for any payment under this Act, knowing or having reason to believe that such claim is false or without any basis; or (b) when required under this Act so to do:-- (i) omits or fails to produce any register or record of the Company; or (ii) makes any statement or furnishes any information which is false in any material particular and which he knows or believes to be false or does not believe to be true; or (c) makes any such statement as aforesaid in any book of account, record, register, return or other..... View Complete Act List Judgments citing this sectionTitle : Repeal and Saving
State : Central
Year : 1976
The Indian Iron and Steel Company (Acquisition of Shares) Ordinance, 1976, is hereby repealed; Provided that notwithstanding such repeal anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provision of this Act. View Complete Act List Judgments citing this sectionTitle : Preliminary
State : Central
Year : 1978
(1) This Act may be called the Bolani Ores Limited (Acquisition of Shares) and Miscellaneous Provisions act, 1978. (2) it shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. Section 2 - Definitions (1) In this Act, unless the context otherwise requires,- (a) "appointed day" means the date on which this act comes into force; (b) "Bolani Ores Limited" means the Bolani Ores Company Limited, a company formed and registered under the companies Act and having its registered office at Chartered Bank Buildings in Calcutta in the state of West Bengal; (c) "Companies Act" means the companies Act, 1956 (1 of 1956); (d) "dissolved company" means the Bolani Ores Limited dissolved by virtue of section 6; (e) "the company"..... View Complete Act List Judgments citing this sectionTitle : Short Title and Commencement
State : Central
Year : 1978
(1) This Act may be called the Bolani Ores Limited (Acquisition of Shares) and Miscellaneous Provisions act, 1978. (2) it shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. View Complete Act List Judgments citing this sectionTitle : Payment of Amount to the Company
State : Central
Year : 1978
(1) For the transfer to, and vesting in, the Central government under section 3 of the shares held by the Company in the Bolani Ores Limited, the Central Government shall, within thirty days from the appointed day, pay to the Company in cash an amount of forty-nine thousand five hundred rupees. (2) Where the Central Government fails to pay to the Company the amount specified in sub-section (1) within the period specified in that sub-section, the central Government shall pay on the said amount simple interest at the rate of six per cent, per annum from the appointed day till the date of payment. View Complete Act List Judgments citing this sectionTitle : Vesting of Undertakings in the Steel Authority of India and Dissolution of Bolani Ores Limited
State : Central
Year : 1978
On the appointed day (a) all the undertakings of the Bolani Ores Limited, the shares of which have vested in the Steel Authority of India by virtue of section 5, shall stand transferred to, and shall vest in, the Steel Authority of India; (b) the Bolani Ores Limited shall stand dissolved. Section 7 - Under-taking meaning of For the purposes of this act, the undertakings of the dissolved company shall be deed to include all assets, rights, lease-holds (including mining leases), industrial or other licences, powers, authorities and privileges and all property, movable and immovable, including lands, buildings, works, mines, workshops, projects, stores, instruments, machinery, automobiles and other vehicles, equipment, cash or bank balances, cash in hand, reserve funds, investments..... View Complete Act List Judgments citing this sectionTitle : Vesting of Undertakings a in the Steel Authority of India and Dissolution of Bolani Ores Limited
State : Central
Year : 1978
On the appointed day (a) all the undertakings of the Bolani Ores Limited, the shares of which have vested in the Steel Authority of India by virtue of section 5, shall stand transferred to, and shall vest in, the Steel Authority of India; (b) the Bolani Ores Limited shall stand dissolved. View Complete Act List Judgments citing this sectionTitle : Financial Provisions
State : Central
Year : 1978
(1) The Steel authority of India shall be liable to pay any sum under the provisions of the Income-tax Act of the Companies (profits) Surtax Act which the dissolved company would have been liable to pay if the dissolution had not taken place, in the like manner and to the same extent as the dissolved company. (2) For the purpose of making an assessment of the income or, as the case may be, the chargeable profits of the dissolved company and for the purpose of levying any sum in accordance with the provisions of sub-section (1),- (a) any proceeding taken against the dissolved company before the appointed day shall be deemed to have been taken against the Steel Authority of India and may be continued against the steel Authority of India from the stage at which it stood immediately..... View Complete Act List Judgments citing this section