Court : Supreme Court of India
..... to have come into force with effect from the 24th october, 2014. amendments to the sick textile undertakings (nationalisation) act, 1974 chapter ii xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx chapter iii amendments to the textile undertakings (nationalisation) act, 1995 5. on and from the date of commencement of the textile undertakings (nationalisation) act, 1995 (hereafter in this chapter referred to as the principal act), in section ..... (2013) 8 scc3376 (1923) vol. l (ia) 324 31 an act further to amend the sick textile undertakings (nationalisation) act, 1974 and the textile undertakings (nationalisation) act, 1995, in order to continue with the lease hold rights vested in the national textile corporation on completion of the lease hold tenure. whereas the national textile corporation subserves the interests of the general public and the land continue to be in .....
Tag this Judgment!Court : Supreme Court of India
..... 26.10.1983 restraining the present appellant from interfering with bank accounts relating to the property business as well as textile undertaking business. it was during pendency of the business that textile undertaking nationalisation act, 1995 came into existence and the mills stood acquired. m/s shree madhusudan mills ltd. was renamed ..... as hall on 11.2.1999. learned single judge allowed the said writ petition vide judgment and order dated 6.1.2005 holding that the suit premises situated at calcutta was by no means related to the textile undertakings ..... real estate division......" therefore, it is evident that in the said case, the land appurtenant to the textile undertaking and belonging to it, was converted into real estate and even on nationalisation, for the purpose of determining the compensation, the said land had been included in the assets. in .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2006SC2927; [2006]134CompCas164(SC); (2006)6CompLJ448(SC); JT2006(7)SC285; 2006(7)SCALE627
..... ltd. and ors. : [2002]2scr1093 , a division bench of this court interpreting the provisions of the 1974 act, held:turning attention to the effect of the sick textile undertakings (nationalisation) act, 1974, a bare perusal of some of the provisions will indicate that there is no discharge of the liability of principal debtor, leave alone that of the ..... lower category.7. section 27 which occurs in chapter vii of the act provides as under:27. (1) where any liability of the owner of a sick textile undertaking arising out of any item specified in category i of the second schedule is not discharged fully by the commissioner out of the amount, paid to him under ..... state government.(b) any other dues.5. in terms of section 3 of the act, the right title and interest of the owner in relation to every sick textile undertaking vested absolutely in the central government. section 5 provides that every liability, other than the liability specified in sub-section (2) thereof in respect of any period .....
Tag this Judgment!Court : Mumbai
Reported in : 1991(2)BomCR677; (1994)IIILLJ929Bom
..... ltd. respondent no. 5 herein and the said management continued till the year 1974 when the sick textile undertakings (taking over of management) act, 1972 was replaced by the sick textile undertakings (nationalisation) ordinance, 1974 and thereafter by the sick textile undertakings (nationalisation) act, 1974, hereinafter referred to as 'the act of 1974' for the sake of brevity. by virtue of the said act of 1974 on 1.4.1974 the ..... aforesaid mills being sick textile undertakings and the ownership in relation to the said textile undertaking stood transferred and was vested absolutely in the .....
Tag this Judgment!Court : Gujarat
Reported in : (2003)4GLR325
..... has committed an error of law appearing on the face of record, by not giving effect to the provisions contained in section 14(1) of the sick textile undertakings (nationalisation) act, 1974. this section runs as under:'14. employment of certain employees to continue (1) every person who is a workman within the meaning ..... also termination of rights and interest thereto. the petitioner was, therefore, in the continuous service of the respondent mills company even at the time when the sick textile undertakings (nationalisation) act, 1974 had come into force, w.e.f. 1st april, 1974. mr. dave has, therefore, submitted that the petitioner could not be ..... dismissed by the labour court and also on the ground that the petitioner could not be granted any relief against the national textile corporation in view of the provisions contained in sick textile undertakings (nationalisation) act, 1974.6. being aggrieved and dissatisfied with the said order of the labour court, the petitioner filed an appeal .....
Tag this Judgment!Court : Chennai
Reported in : (2007)ILLJ140Mad
..... the staff/sub-staff working in the mills. as per the provisions of section 5(2)(c) of the sick textile undertakings (nationalisation) act, 1974, the wages, salaries and other dues of the employees of the sick textile undertakings after the takeover of their managements by the central government are the responsibility of the central government. the central ..... board has been empowered to reduce the quantum of damages that may be required to be paid by a company in relation to an undertaking which is a sick industrial undertaking and in respect of which the scheme for rehabilitation has been sanctioned by the bifr, subject to such terms and conditions as may ..... act states as follows:an act to make, in the public interest, special provision with a view to securing the timely detection of sick and potentially sick companies owning industrial undertakings, the speedy determination by a board of experts of the preventive, ameliorative, remedial and other measures which need to be taken with respect .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1980SC1789; (1980)3SCC625; [1981]1SCR206; 1980(12)LC727(SC)
..... ground that its affairs were being managed in a manner highly detrimental to public interest.10. by these petitions, the petitioners challenge the constitutional validity of certain provisions of the sick textile undertakings (nationalisation) act and of the order dated october 19, 1971. we are not concerned with the merits of that challenge at this stage. the petitioners further challenge the constitutionality of the ..... 18a of the industries (development and regulation) act, 1951, authorised the taking over of the management of the industrial undertaking of the petitioners by the national textile corporation and the sick textile undertakings (nationalisation) act 1974 (hereinafter referred to as the nationalisation act) by which the entire industrial undertaking and the right, title and interest of the petitioners in it stood transferred to and vested in the central .....
Tag this Judgment!Court : Kolkata
Reported in : [1978]48CompCas747(Cal)
..... to an order of rectification as asked for in the application under section 155 of the companies act, 1956 regarding the objection that in view of the sick textile undertakings (nationalisation) act, 1974, the petitioners have no locus standi and the application is not maintainable, in my view, the said contention is utterly baseless, as ..... alternative remedy to an application for registration of shares. he submitted that in the facts of this case the application should be allowed.5. referring to the sick textile undertakings (nationalisation) act, 1974, which came into force from 21st of december, 1974, and the appointed day under the said act is the 1st of april, 1974, ..... the corporate existence of the company which has been acquired under the said nationalisation act is not affected and the company is defined as the owner of the sick textile undertakings which have been nationalised under the said act, as defined under section 2(h) of the said act, and would receive .....
Tag this Judgment!Court : Mumbai
Reported in : 1998(1)BomCR407; 1997(3)MhLj456
..... and wages and other amounts due to the employee in relation to the pre-take-over management period. these provisions are similar to those contained in section 21 of the sick textile undertakings (nationalisation) act, 1974. in m. asghar v. union of india, : (1987)illj440sc , the said provisions giving lower priority to the amounts due to the employees in relation to the pre-take ..... payment of gratuity act'.11. that the liabilities in respect of the period prior to the taking over of the management of the textile undertaking are not taken over by the n.t.c. is also borne out by the textile undertakings (nationalisation) ordinance, no. 6 of 1994 promulgated by the president on june 27, 1995. the said ordinance provides for the acquisition and transfer .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)2GLR1048
..... is entitled to get their rent only. property of defendant no. 1 company was taken over by defendant no. 2, as per sections 3 and 4 of the sick textile undertakings (nationalisation) ordinance,1974. thus, all rights, which are vested in defendant no. 1, now, will be vested in defendant no. 2, including lease hold rights in ..... , or arising out of, such property as were immediately before the appointed day in the owner-ship, possession, power of control of the textile company in relation to the sick textile undertaking, whether within or outside india, and all books of account, registers and all other documents of whatever nature relating thereto. 2.6 bifr ..... by virtue of sub-section (1) shall, immediately after it has so vested, stand transferred to, and vested in, the national textile corporation. general effect of vesting.4(1) the sick textile undertaking referred to in section 3 shall be deemed to include all assets, rights lease holds, powers, authorities and privileges and all property, .....
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