Bare Act Search Results

Kosangas Company Acquisition of Undertaking Act, 1979 Preamble 1

Title: Kosangas Company Acquisition of Undertaking Act, 1979

State: Central

Year: 1979

.....with the Kosangas company then a partnership concern (whereby the former appointed the latter as distributors in certain areas for sale of its liquefied petroleum gas, packed in cylinders, to domestic, commercial and industrial customers), as continued by sub-section (1) of section 13 of the Esso (Acquisition of Undertakings in India) Act, 1974 (4 of 1974.), and modified under sub-section (2) of that section, expired on the 4th day of September, 1977; AND WHEREAS it is expedient in the public interest to acquire the undertaking of the said Kosangas company; AND WHEREAS such acquisition is for giving effect to the policy of the State towards securing the principle specified in clause (b) of article 39 of the Constitution as the ownership and control of the material resources of the community, to wit, the means and resources aforesaid, would by reason of such acquisition become vested in the State and thereby so distributed and utilized as best to subserve the common good; BE it enacted by Parliament in the Thirtieth Year of the Republic of India as follows:---

Kosangas Company Acquisition of Undertaking Act, 1979 Chapter II

Title: Acquisition of the Undertaking of Kosangas Company

State: Central

Year: 1979

.....records of survey and all other documents of whatever nature relating thereto and shall also be deemed to include the liabilities specified in sub-section (2) of section 4 but shall not be deemed to include-- (a) the trade marks of Kosangas company or designs registered in India in the name of Kosangas company; (b) any business carried on by Kosangas company or Gocul Gas Private Limited (including the assets and stock in trade forming part of that business) other than that relating to the bottling, filling, transporting, marketing and distribution of liquefied petroleum gas. (3) All property included as aforesaid in the undertaking which has vested in the Central Government under sub-section (1) shall, by virtue of such vesting, be freed and discharged from any trusts, obligations, mortgages, charges, liens and other encumbrances affecting it, and any attachment, injunction or any decree or order of any court restricting the use of such property in any manner shall be deemed to have been withdrawn. (4) If, on the appointed day, any suit, appeal or other proceeding of whatever nature (which, under the provisions of this Act, could be instituted by or against the Central.....

Kosangas Company Acquisition of Undertaking Act, 1979 Section 3

Title: Transfer and Vesting in the Central Government of the Undertaking

State: Central

Year: 1979

.....records of survey and all other documents of whatever nature relating thereto and shall also be deemed to include the liabilities specified in sub-section (2) of section 4 but shall not be deemed to include-- (a) the trade marks of Kosangas company or designs registered in India in the name of Kosangas company; (b) any business carried on by Kosangas company or Gocul Gas Private Limited (including the assets and stock in trade forming part of that business) other than that relating to the bottling, filling, transporting, marketing and distribution of liquefied petroleum gas. (3) All property included as aforesaid in the undertaking which has vested in the Central Government under sub-section (1) shall, by virtue of such vesting, be freed and discharged from any trusts, obligations, mortgages, charges, liens and other encumbrances affecting it, and any attachment, injunction or any decree or order of any court restricting the use of such property in any manner shall be deemed to have been withdrawn. (4) If, on the appointed day, any suit, appeal or other proceeding of whatever nature (which, under the provisions of this Act, could be instituted by or against the Central.....

Kosangas 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

Kosangas Company Acquisition of Undertaking Act, 1979 Section 7

Title: Power of Central Government to Direct Vesting of Undertaking in a Government Company

State: Central

Year: 1979

.....a that Government may think fit to impose, direct by notification in the Official Gazette, that the right, title and interest and the liabilities specified in sub-section (2) of section 4 in relation to the undertaking shall instead of containing to vest in the Central Government vest in the 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) When the right, title and interest and the liabilities in relation to the undertaking vest in a Government company under sub-section (1) all the rights and liabilities of the Central Government in relation to the undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the Government company. (3) The provisions of sections 3,4,5 and sub-section (1) of section 6 shall, so far as may be apply in relation to such Government company as they apply in relation to the Central Government and for this purpose references therein to the "Central Government " shall be construed as references to such government company

Kosangas Company Acquisition of Undertaking Act, 1979 Section 6

Title: Removal of Doubts

State: Central

Year: 1979

(1) For the removal of doubts, it is hereby declared that the provisions of sections 3,4 and 5 shall apply to the extent to which any property appertains to the undertaking, and to the rights and powers acquired, and to debts, liabilities and obligations incurred, and to contracts, agreements and other instruments made by Kosangas company or Gocul Gas Private Limited for the purpose of the undertaking and to legal proceedings relating to those matters pending in any court or tribunal. (2) If any question arises as to whether any property appertained, immediately before the appointed day, to the undertaking or whether any rights, powers, debts, liabilities or obligations were acquires or incurred or any contract, agreement or other instrument was made by Kosangas company or Gocul Gas Private Limited for the purposes of the undertaking or whether any documents related to those purposes, or whether the provisions of section 5 apply in relation to any property, the question shall be referred to the Central Government which shall after giving a reasonable opportunity of being heard to the persons interested in the matter, decide it in such manner as it may think fit.

Kosan Gas Company (Acquisition of Undertaking) Act, 1979 Complete Act

State: Central

Year: 1979

.....make an order terminating or modifying (either unconditionally or subject to such conditions as it may think fit to impose for the purpose) the contract and thereafter the contract shall have effect accordingly: Provided that no contract shall be terminated or modified by the Central Government except after giving to the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for such termination or modification. SECTION 12: EFFECT OF ACT ON OTHER LAWS The provisions of this Act and any notification, order or rule made there under shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law other than this Act or in any decree or order of any court, tribunal or other authority. SECTION 13: DUTY TO DELIVER POSSESSION OF PROPERTIES, ETC (1) Where any property appertaining to the undertaking has been transferred to, and vested in, the Central Government or the successor Government company under this Act,- (a) every person in whose possession, custody or control any such property may be, shall, on a demand by the.....

Kosangas Company Acquisition of Undertaking Act, 1979 Chapter I

Title: Preliminary

State: Central

Year: 1979

(1) This Act may be called the Kosangas Company (Acquisition of Undertaking) Act, 1979. (2) It shall come into force at once. Section 2 - Definitions In this Act, unless the context otherwise requires,-- (a) "appointed day" means the date on which this Act comes into force; (b) "Government company" has the meaning assigned to it by section 617 of the Companies Act, 1956(1of1956); (c) "Kosangas company" means the partnership firm registered under the Indian Partnership Act, 1932 (9 of 1932), with head office at 53/57, Lakshmi Insurance Building, Sir Phirozshah Mehta Road, Bombay-1, as it existed immediately before its dissolution on the 5th September, 1977; (d) "liquefied petroleum gas" has the same meaning as in sub-item (2) of Item No.11A of the first Schedule to the Central Excise and Salt Act, 1944 (1 of 1944); (e) "the undertaking" means the undertaking in India of the Kosangas company the right, title and interest in which have, on the dissolution of that firm, vested in Gocul Gas Private Limited as sole proprietor thereof.

Kosangas Company Acquisition of Undertaking Act, 1979 Section 4

Title: Gocul Gas Private Limited and Kosangas Company to Be Liable for Certain Prior Liabilities

State: Central

Year: 1979

..... (3) For the removal of doubts, it is hereby declared that,-- (a) save as otherwise expressly provided in this section or in any bother section of this Act, no liabilities other than the liabilities specified in sub-section (2), in relation to the undertaking in respect of any period prior to the appointed day, shall be enforceable against the Central Government; (b) no award, decree or order of any court, tribunal or other authority or any settlement in relation to the undertaking passed after the appointed day in respect of any matter, claim or dispute, in relation to any matter not referred to in sub-section (2), which arose before that day, shall be enforceable against the Central Government; (c) no liability of the undertaking or of Gocul Gas Private Limited and Kosangas company or its partners for the contravention, before the appointed day, of any; provision of law for the item being in force, shall be enforceable against the Central Government; (d) no liability of Gocul Gas Private Limited or Kosangas company to the Directors of Gocul Gas Private Limited or to the partners of Kosangas company, and no liability for income-tax of Gocul Gas Private.....

Kosangas Company Acquisition of Undertaking Act, 1979 Section 14

Title: Penalties

State: Central

Year: 1979

Any person who,--- (a) having in his possession, custody or control any property forming part of the undertaking wrongfully withholds such property from the Central Government or the successor Government company; or (b) wrongfully obtains possession of, or retains, any property forming part of the undertaking; or (c) wilfully withholds or fails to furnish to the Central Government or the successor Government company or any person authorised in this behalf by the Central Government or that company, any books, documents or other papers relating to the undertaking which may be in his possession, custody or control; or (d) fails to deliver to the Central Government or the successor Government company, any assets books of account, registers or other documents in his possession, custody or control relating to the undertaking; or (e) wrongfully removes or destroys any property forming part of the undertaking; or (f) wrongfully uses any property forming part of the undertaking, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupees, or with both.