Bare Act Search Results

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Complete Act

State: Central

Year: 1984

.....and other activities : AND WHEREAS the Company has the capacity and infrastructure to effect an increase in the country's capacity to manufacture ships and other vessels and craft; AND WHEREAS an increase in the production of such vessels and craft would reduce the need of the country to make imports of such vessels and craft and would thereby enable the country to save foreign exchange; AND WHEREAS the Company is also engaged in the production of grey iron, non- ferrous and alloy castings which are essential to the needs of the economy of the country. AND WHEREAS the Company had been suffering heavy losses for a number of years mainly due to lack of fresh investment and modernisation; AND WHEREAS further investment of substantial sums of money is needed to run and modernise the undertakings of the Company; but in view of the serious adverse financial condition of the Company it is not in a position to secure such investment. AND WHEREAS the liquidation of the Company, by reason of its inability to pay its debts, would prejudicially affect the country's capacity to manufacture such ships, vessels and craft and would thereby be prejudicial to the public interest; AND.....

Finance Act, 2008 Complete Act

State: Central

Year: 2008

..... SECTION 62: Financial arrangements avoidance: Schedule 22 contains provision about avoidance involving financial arrangements. SECTION 63: Manufactured payments: (1) Schedule 23 contains anti-avoidance provisions about manufactured payments. (2) The amendments made by that Schedule have effect in relation to manufactured payments (including deemed manufactured payments) made (or treated as made) on or after 31 January 2008. SECTION 64: Controlled foreign companies: (2) In section 747 (imputation of chargeable profits of controlled foreign companies)- (1) Chapter 4 of Part 17 of ICTA (controlled foreign companies) is amended as follows. (a) in subsection (6), before "and" at the end of paragraph (a) insert- "(aa) any reference in this Chapter to its chargeable profits for an accounting period includes (subject to subsections (7) to (9)) income which accrues during that accounting period to the trustees of a settlement in relation to which the company is a settlor or a beneficiary;", and (b) after that subsection insert- "(7) Where there is more than one settlor or beneficiary in relation to the settlement mentioned in subsection (6)(aa), the income is to be.....

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Preamble 1

Title: Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984

State: Central

Year: 1984

.....and other activities; And WHEREAS the Company has the Capacity and infrastructure to effect an increase in the country's capacity to manufacture ships and other vessels and craft; And WHEREAS an increase in the production of such vessels and craft would reduce the need of the country to make imports of such vessels and craft and would thereby enable the country to save foreign exchange; And WHEREAS the Company is also engaged in the production of grey iron, non-ferrous and alloy castings which are essential to the needs of he economy of the country; And WHEREAS the Company had been suffering heavy losses for a number of years mainly due to lack of fresh investment and modernisation; And WHEREAS further investment of substantial sums of money is needed to run and modernise the undertakings of the Company: but in view of the serious adverse financial condition of the Company it is not in a position to secure such investment: And WHEREAS the liquidation of the Company, by reason of its inability to pay its debts, would prejudicially affect the country's capacity to manufacture such ships, vessels and craft and would thereby be prejudicial to the public.....

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Chapter II

Title: Acquisition and Transfer of Aluminium Undertaking of the Company

State: Central

Year: 1984

.....Government company (1) Notwithstanding anything contained in section 3 and 4, where the undertakings of the Company have been directed, under sub-section (1) of section 5, 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 the Company be transferred to that new Government company; and on the issue of such declaration, the right, title and interest of the Company in relation to its undertakings, which had been directed under sub-section (1) of section 5 to 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 Company vest under sub-section (1) in a new Government company, that new Government company shall, on and from the date of such vesting, be deemed to have become the owner in.....

Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 Section 7

Title: Company to Be Liable for Certain Prior Liabilities

State: Central

Year: 1984

.....be, the existing, or new, Government company, (3) For the removal of doubts, it is hereby declared that - (a) save as otherwise expressly provided in this Act, no liability of Company 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 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 the Company, passed on or after the appointed day, in respect of any matter, claim or dispute, which arose before that day, shall be enforceable against the Central Government, or where the undertakings of the Company vest in an existing, or a new, Government company, against such Government company; (c) no liability incurred by the Company before the appointed day, for the contravention of any provision of law for the time being in force, shall be enforceable against the Central Government, or, where the undertakings of the Company vest in an existing, or a new, Government company, against such Government company.

HOOGHLY DOCKING AND ENGINEERING COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS' ADMINISTRATION OF FUNDS RULES, 1985 Complete Act

State: Central

Year: 1985

.....[Gazette of India, Extraordinary, dated 31.7.1984, Pt. II, Section 2, Page 41 (No. 37)] 1S.O. 53(E).-In exercise of the powers conferred by sub-section (2) of Section 31 of the Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 (55 of 1984), the Central Government hereby makes the following rules, namely,- RULE 01: SHORT TITLE AND COMMENCEMENT (1) These rules may be called the Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Administration of Funds Rules, 1985. (2) They shall come into force on the date of their publication in the Official Gazette. RULE 02: DEFINITIONS In these rules unless the context otherwise requires,- (a) 'Act' means the Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 (55 of 1984); (b) 'Section' means a section of the Act; (c) 'Provident Fund' means the Provident Fund established by Messrs. Hooghly Docking and Engineering Company Limited for the benefit of persons employed in any of the under-takings owned by them. RULE 03: ADMINISTRATION OF FUNDS -The monies standing to the credit of the provident fund,.....

Indian Contract Act, 1872 Chapter 10

Title: Agency

State: Central

Year: 1872

.....of the loan. Section 198 - Knowledge requisite for valid ratification No valid ratification can be made by a person whose knowledge of the facts of the case is materially defective. Section 199 - Effect of ratifying unauthorized act forming part of a transaction A person ratifying any unauthorized act done on his behalf ratifies the whole of the transaction of which such act formed a part. Section 200 - Ratification of unauthorized act cannot injure third person An act done by one person on behalf of another, without such other person's authority, which, if done with authority, would have the effect of subjecting a third person to damages, or of terminating any right or interest of a third person, cannot, by ratification, be made to have such effect. Illustration (a) A, not being authorized thereto by B, demands, on behalf of B, the delivery of a chattel, the property of B, from C, who is in possession of it. This demand cannot be ratified by B, so as to make C liable for damages for his refusal to deliver. (b) A holds a lease from B, terminable on three months' notice. C, an unauthorized person, gives notice of termination to A. The notice cannot be.....

Indian Contract Act, 1872 Section 188

Title: Extend of Agents Authority

State: Central

Year: 1872

An agent having an authority to do an act, has authority to do every lawful thing which is necessary in order to do such act. An agent having an authority to carry on a business, has authority to do every lawful thing necessary for the purpose, or usually done in the course, of conducting such business. Illustration (a) A is employed by B, residing in London, to recover at Bombay a debt due to B. A may adopt any legal process necessary for the purpose of recovering the debt, and may give a valid discharge for the same. (b) A constitutes B his agent to carry on his business of a shipbuilder. B may purchase timber and other materials, and hire workmen, for the purpose of carrying on the business.