Bare Act Search Results

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Complete Act

Title: Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981

State: Central

Year: 1981

.....the appointed day Section8 - Removal of doubts Section9 - Power of Central Government to direct vesting of the under takings of specified companies in one or more Government Companies Chapter IV Section10 - Payment of amount to Burmah Oil Company Chapter V Section11 - Transfer of service of existing employees of the specified companies Section12 - Provident superannuation, welfare fund, etc Chapter VI Section13 - Effect of Act on other laws Section14 - Duty to deliver possession of properties etc Section15 - Contracts to continue unless terminated by Central Government Section16 - Penalties Section17 - Offences by companies Section18 - Protection of action taken in good faith Section19 - Cognizance of offences Section20 - Indemnity Section21 - Power to remove difficulties Section22 - Power to make rules

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Chapter III

Title: Acquisition of the Undertakings of the Two Companies

State: Central

Year: 1981

.....the appointed day for sufficient monetary consideration. (3) On the expiry of the term of any lease , tenancy or arrangement referred to in sub-section (1) or sub-section (2) , such lease or tenancy or arrangement shall, if so desired by the central government ,be renewed or continued, so far as may be, on the same terms and conditions on which the lease or tenancy or arrangement was originally granted or entered into. Section 8 - Removal of doubts (1) For the removal of doubts, it is hereby declared that the provisions of sections 5, 6 and 7 shall apply to the extent to which any property appertains to the business carried on by each specified company in India ; and to the rights and powers acquired , and to debts, liabilities and obligations incurred, and to contracts, agreements, and other instruments made, by the specified company in India , and to proceedings relating to those matter pending, in any court or tribunal or before any other authority , in India . (2) if any question arises as to whether any property appertained, immediately before the appointed day, to any business of a specified company in India or whether any rights, powers , debts, liabilities or.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Preamble 1

Title: The Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981

State: Central

Year: 1981

.....and , control over , a significant portion of crude oil , gas and petroleum products produced , marketed and distributed in India by reason of the fact that Oil India Limited , wherein it holds fifty percent , of the shares , and one of its subsidiaries , namely , the Assam Oil Company limited are carrying on the business of exploration and production of crude oil , gas and petroleum products , and the said Assam Oil Company Limited is also carrying on through its undertakings in India and through the undertaking in India of "The Burmah Oil Company (India Trading) Limited" another of the subsidiaries of " The Burmah Oil Company Limited", the business of marketing and distribution of petroleum products; AND WHEREAS it is expedient in the public interest that the shares of the said Oil India Limited held by " The Burmah Oil Company Limited " and the undertakings in India of the said Assam Oil Company Limited and "The Burma Oil Company (India Trading) Limited " should be acquired; 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.....

Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981 Complete Act

State: Central

Year: 1981

.....giving them any retrenchment benefits, the State Government of Haryana has been continuously urging the Government of India to take over this factory in view of the fact that a large number of employees will be thrown out of employment, if the factory is permanently closed down. The State Government of Haryana has indicated that owing to financial constraints and lack of technical expertise, the State Government is not in a position to take over this cement factory for restarting and running it. 3. The liability of the factory on its restart has been assesed and in the interest of restarting production of cement and also to provide employment to the workers, the Central Government had decided that it would be in the public interest to acquire the cement factory of this company and to transfer it to the Cement Corporation of India which is a public sector undertaking engaged in the manufacture and sale of cement. 4. The Bill seeks to give effect to the above object- Gaz. of Ind., 5-5-1981, Pt. II. S. 2 Ext., p. 361. An Act to provide for the acquisition and transfer of the undertakings of the Dalmia Dadri Cement Limited with a view to securing the proper management of such.....

Berhampore Electric Supply Company Limited (Undertaking)acquisition Act, 1981 Complete Act

State: West Bengal

Year: 1981

.....Berhampore Electric Licence, 1928; (e) "notification" means a notification published in the Official Gazette; (f) "prescribed" means prescribed by rules made under this Act; (g) "undertaking" means the electric supply undertaking of the Berhampore Electric Supply Company Limited held under the Berhampore Electric Licence, 1928 granted under the Indian Electricity Act, 1910; (h) words and expressions used but not defined in this Act, and defined in the Indian Electricity Act, 1910 or the Electricity (Supply) Act, 1948 shall have the meanings respectively assigned to them in that Act. Section 3 Undertaking to vest in the State Government (1) Notwithstanding anything in any other law for the time being in force or in any contract, on and from the appointed day the undertaking shall, by virtue of this Act, stand transferred to, and vest in, the State Government. (2) The undertaking which stands vested in the State Government by virtue of sub-section (1) shall, immediately after such vesting, stand transferred to, and vested in, the Board. Section 4 General effect of vesting (1) The undertaking which vests under section 3 shall be deemed to include all rights, powers,.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 6

Title: General Affect of Vesting

State: Central

Year: 1981

.....in relation to the undertakings in India of a specified company which have been transferred to, and vested in the central government under section 5.is pending by or against that specified company , the same shall not abate ,be discontinued or be in any way prejudicially affected by reason or of anything contained in this Act but the suit appeal or other proceeding may be continued ,prosecuted and enforced by or against the central government . (6). The promotion agreement and supplement agreement entered into on the 14th day January , 1958 and the 16 th day of February , 1959.respectively , to which the central government , the Burmah Oil Company and the Assam Oil Company Limited were parties and the adopting agreement and the second supplemental agreement entered into on 14 th day of march . 1959 and the 27 th day of 1961.respectively. to which the central government the Burmah Oil Company , the Assam Oil Company Limited and Oil India Limited. Were parties shall be deemed to have been terminated with effect from the 1st day of January, 1977 , and accordingly the rights, liabilities and obligations arising out of such Agreement shall be deemed to have been.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Chapter VI

Title: Miscellaneous

State: Central

Year: 1981

.....Government company to take all necessary steps for taking possession of all properties which have been transferred to, and vested in, it under this Act. Contracts to continue unless terminated by Central Government Section 15 - Contracts to continue unless terminated by Central Government (1) Every contract other than an Agreement referred to in sub section (6) of section 6 entered into by a specified company for any service sale or supply in India and in force immediately before the appointed day, shall unless terminated under sub-section (2) within a period of two years from the appointed day, continue to be of full force and effect against or in favor of the Central Government or as the case may be the successor Government company. (2) The Central Government may, if it is satisfied that any contract referred to in sub-section (1) is unduly onerous or has been entered into in bad faith or is detrimental to the interests of that Government or the successor Government company as the as may be by order in writing either terminate such contrast or make such alterations or modifications therein as it may think fit. Provided that the Central Government shall not terminate.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 16

Title: Penalties

State: Central

Year: 1981

And person who- (a) having in his possession custody or control any property forming part of any undertaking in India of a specified company, 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 any undertaking in India of a specified company; or (c) wilfully withhold or fails to furnish to the Central Government or the successor Government company or any person specified by the Central Government or that company, any books documents or other papers relating to any undertaking in India of a specified company 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 any undertaking in India of a specified company or (e) wrongfully removes or destroys any property forming part of any undertaking in India of a specified company, 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

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Chapter V

Title: Provisions Relating to Employees

State: Central

Year: 1981

.....or until his remuneration and conditions of service are duly altered by the central government or the successor government company. (2) Subject to rules made in this behalf under section 22 , every whole -time officer or other employee of oil India who was immediately before the appointed day , employed by it in India and every whole -time officer or other employee of Oil India who was , immediately before the appointed day, temporally holding any assignment outside India shall , on and from that day , continue to be an officer or other employee of Oil India on the same terms and conditions and with the same rights to pension , gratuity and other matters as are admissible to him immediately before that day and shall continue to hold such office unless and until his employment under Oil India is duly terminated or until his remuneration and conditions of service are duly altered by that company. (3) If any question arises as to whether any person was a whole time officer or other employee of a specified company , or as to whether any officer or other employee was employed wholly or mainly in connection with the undertakings of that company in India immediately before the.....

Burmah Oil Company [Acquisition of Shares of Oil India Limited and of the Undertaking in India of Assam Oil Company Limited and the Burmah Oil Company (India Trading) Limited ] Act , 1981 Section 9

Title: Power of Central Government to Direct Vesting of the Under Takings of Specified Companies in One or More Government Companies

State: Central

Year: 1981

.....vest in one or more Government companies 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 of a specified company in relation to its undertakings in India vest in one or more Government companies under sub-section (1), all the rights and liabilities of the Central Government in relation to such undertakings shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the Government company or companies (3) The provisions of sections 5,6 and 7 shall, so far as may be, apply in relation to such Government company ;or companies 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 or companies.