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Start Free TrialTextile Undertakings (Nationalisation) Act,1995 Complete Act
Title: Textile Undertakings (Nationalisation) Act,1995
State: Central
Year: 1995
.....or unclaimed amounts to be deposited to the general reserve account Chapter 7 Section27 - Assumption of liability Section28 - Management to continue or vest in the Custodian until alternative arrangements are made Section29 - Act to override all other enactments Section30 - Contracts to cease to have effect unless ratified by the National Textile Corporation Section31 - Penalties Section32 - Offences by companies Section33 - Protection of action taken in good faith Section34 - Textile companies not to be wound up by the Court Section35 - Delegation of powers Section36 - Power to make rules Section37 - Power to remove difficulties Section38 - Repeal and saving Schedule1 - FIRST SCHEDULE Schedule2 - SECOND SCHEDULE
List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Section 34
Title: Textile Companies Not to Be Wound Up by the Court
State: Central
Year: 1995
No proceeding for the winding up of a textile company, the right, title and interest in relation to the textile undertaking owned by which have vested in the National Textile Corporation under this Act or for the appointment of a receiver in respect of the business of the textile undertaking shall lie or be proceeded with in any Court except with consent of the Central Government.
View Complete Act List Judgments citing this sectionWakf Act, 1995 Chapter VIII
Title: Finance of the Board
State: Central
Year: 1995
.....which had escaped assessment, and demanding payment thereof within thirty days from the date of service of such notice and the provisions of this Act and the rules made thereunder, shall, as far as may be, apply as if the assessments were made under this Act, in the first instance. Section 73 - Power of Chief Executive Officer to direct banks or other person to make payments (1) Notwithstanding anything contained in any other law for the time being in force, the Chief Executive Officer, if he is satisfied that it is necessary and expedient so to do, make an order directing any bank in which, or any person with whom any money belonging to a wakf is deposited, to pay the contribution, leviable under section 72, out of such money, as may be standing to the credit of the wakf in such bank or may be deposited with such person, or out of the moneys which may, from time to time, be received by bank or other person for or on behalf of the wakf by way of deposit, and on receipt of such orders, the bank or the other person, as the case may be, shall when no appeal has been preferred under sub-section (3), comply with such orders, or where an appeal has been preferred under.....
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Schedule 2
Title: Second Schedule
State: Central
Year: 1995
THE SECOND SCHEDULE (Sections 21, 22 and 27) Order of priorities for discharge of liabilities in respect of a textile undertaking PART A Post-take-over management period Category I. (a) Loans advanced by a Bank. (b) Loans advanced by an institution other than a Bank. (c) Any other loan. (d) Any credit availed of for purpose of trade or manufacturing operations. Category II. (a) Revenue, taxes, cesses, rules or any other dues to the Central Government or a State Government. (b) Any other dues. PART B Pre-take-over management period Category III. Arrears in relation to provident fund, salaries and wages, and other amounts, due to an employee. Category IV. Secured loans. Category V Revenues, taxes, cesses, rates or any other dues to the Central Government, a State Government, a local authority or a State Electricity Board. Category VI. (a) Any credit availed of for purpose of trade or manufacturing operations. (b) Any other dues.
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Schedule 1
Title: First Schedule
State: Central
Year: 1995
.....Phalke Road, Dadar, Bombay The Gold Mohur Mills Ltd., Chartered Bank Building, Fort, Bombay-23 5,45,55,000 4. Jam Manufacturing Mills, Lalbaug, Pare'l, Bombay The Jam Manufacturing Co. Ltd., Lalbaug, Parel, Bombay- 12 2,79,62,000 5. Kohinoor Mills (No. 1), Naigaum Cross Road, Dadar, Bombay. 6. Kohinoor Mills (No. 2), Naigaum Cross Road, Dadar, Bombay. The Kohinoor Mills Co. Ltd., Killick House, Charanjit Rai Marg (Home Street), Fort, Bombay- 1 2,33,38,000 7. Kohinoor Mills (No. 3), Lady Jamshedji Road, Dadar, Bombay. 8. New City of Bombay Manufacturing Mills, 63, Tukaram B, Kadam Marg, Bombay. The New City of Bombay Manufacturing Co. Ltd., 63, Tukaram Baisaji Kadam Path, Bombay-33 4,23,57,000 9. Podar Mills, N.M. Joshi Marg, Bombay. The Podar Mills Ltd., Podar Chambers, Syed Abdulla Brelvi Road, Fort, Bombay- 1 7,46,30,000 10. Podar Mills (Process House), Ganpal Rao Kadam Marg, Bombay. The Podar Mills Ltd., Podar Chambers, Syed Abdulla Brelvi Road, Fort, Bombay-1 .....
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Section 38
Title: Repeal and Saving
State: Central
Year: 1995
(1) The Textile Undertakings (Nationalisation) Ordinance, 1995, is hereby repealed. (2) 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 provisions of this Act.
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Section 37
Title: Power to Remove Difficulties
State: Central
Year: 1995
(1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order not inconsistent with the provisions of this Act, remove the difficulty : Provided that no such order shall be made after the expiry of a period of two years from the date on which Textile Undertakings (Nationalisation) Ordinance, 1995 was promulgated. (2) Every order made under this section shall, as soon as may be after it is made, be laid before each House of Parliament.
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Section 36
Title: Power to Make Rules
State: Central
Year: 1995
.....the foregoing power, such rules may provide for all or any of the following matters, namely : (a) the time within which and the manner in which an intimation referred to in sub-section (4) of section 4 shall be given; (b) the manner in which monies in any provident or other fund referred to in section 15 shall be dealt with; (c) any other matter which is required to be, or may be, prescribed. (3) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be, so, however, that any such modification or annulment shall be without prejudice to the validity of any anything previously done under that rule.
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Section 35
Title: Delegation of Powers
State: Central
Year: 1995
(1)The Central Government may, by notification, direct that all or any of the powers exercisable by it unde this Act, other than the power under section 36 may also be exercised by any person or persons as may be specified in the notification. (2) Whenever any delegation of power is made under sub-section (1) the person to whom such power has been delegated shall act under the direction, control and supervision of the Central Government.
View Complete Act List Judgments citing this sectionTextile Undertakings (Nationalisation) Act,1995 Section 33
Title: Protection of Action Taken in Good Faith
State: Central
Year: 1995
No suit, prosecution or other legal proceeding shall lie against the Central Government or any Officer of that Government or the Custodian or the National Textile Corporation or any subsidiary textile corporation or any Officer or other person authorised by either of such Corporation for any thing which is in good faith done or intended to be done under this Act.
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