Court : Chennai
Reported in : 1999(2)CTC364; (2000)ILLJ340Mad
..... is also taken in the decision reported in tinsukhia electric supply co., ltd., v. state of assam, : air1990sc123 . the same argument was also raised while challenging the sick textile undertakings (nationalisation) act 57 of 1974 in panipet w and c mills co., ltd., v. union of india, air 1986 sc 2082 before the supreme court. in para 10 ..... (b) and (c) of the constitution of india. in minerva mitts ltd., v. union of india, : [1986]3scr718 , the supreme court held that the sick textile under taking (nationalisation) act (57 of 1974) gives effect to the policy as contemplated in article 39(b) and (c) of the constitution and that the act enjoys the protective ..... act 81 of 1986 has raised the following contentions:(i) the state government has no legislative competence to enact the im-pugned act. since the industrial undertaking is a textile undertaking which is included in the schedule of the industries (development and regulation) act, 1951 (central act 65 of 1951). according to him, by virtue .....
Tag this Judgment!Court : Mumbai
Reported in : 1993(2)BomCR589; (1994)ILLJ345Bom
..... to be members of the provident fund on death, retirement etc. (hereinafter referred to as 'the outgoing employees') after april 1, 1974, being the appointed date under sick textile undertaking (nationalisation) act, 1974.2. the facts giving rise to this appeal lie within a very narrow compass.(a) in the year 1965, united mills nos. i to v ..... and that the provisions of the provident fund act, 1952 were not relevant as the provisions of the provident fund act, 1952, were inconsistent with section 29 of the sick textile undertaking (nationalisation) act, 1974. it was further contended that section 29 of the said act, 1974, read with section 5(2)(c) of the said act, 1974, indicated ..... i.e. when he retires from service or on termination of service, as the case may be.7. reading section 5(2)(c) of the said sick textile undertaking (nationalisation) act, 1974 alongwith the provisions of the said provident fund act and the scheme, it is clear that the provident fund dues become due and payable only .....
Tag this Judgment!Court : Mumbai
Reported in : 1991(1)BomCR160; (1990)92BOMLR492; (1993)IIILLJ277Bom
..... a decision of the madras high court in the case of pankaja mills ltd. v. n. sivaramkrishna iyer reported in 1977 l.i.c. 1715. in that case under the sick textile undertakings (nationalisation) act, 1974 the mill vested in the government after its management was taken over. the court said that the liability of the former owner for provident fund contribution and administration ..... whichthe electricity bills were not paid by theformer owner for the period prior to theappointed day. the court said that in viewof the sick textile undertakings (nationalisation) act, 1974 the pre-appointed dayliabilities were of the previous owner andnot of the national textile corporation ofmadhya pradesh. 22. similarly in the case of rashtriya mill mazdoor sangh v. the model mills, nagpur, reported in : (1984)iillj507sc .....
Tag this Judgment!Court : Mumbai
Reported in : 1991CriLJ2766
..... includes requisition of the textile units or undertakings. it is necessary to clarify that the act of nationalisation of the mills, though contemplated, has so far not taken place and, therefore, we are still in the position as if obtained as on 18-3-1983; while only the management of the textile undertaking has been vested in ..... the brief heads that fall for determination in these petitions which are as follows:-- a) what are the rights that have vested in the custodian under the textile undertakings (taking over of management) act, 1983 after takeover, and whether the property of the company, namely, the proprietorship of the existing trade and merchandise marks ..... as a limited company. the subsequent act of nationalisation of the company that was contemplated in the year 1983 has so far not taken place. under the present act of1983, it is only the management of the undertaking that has been taken over by the national textile corporation, which has been designated as 'the custodian .....
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 : Mumbai
Reported in : 1996(5)BomCR564
..... reported in 1987 bank.j. 549 :1987 (2) c.l.r. 323. in this case, the question was whether under the provisions of the sick textile undertakings (nationalisation) act, 1974, the commissioner for payment was bound to pay a claim along with interest thereon. the court held that the liability which is incurred ..... an equitable and rational distribution of, what was public money in the first instance. it also seeks to cut out legal delays and unnecessary litigations between nationalised bodies. thus for example if there are rival claims between two financial institutions and/or banks over the same property, then the right of a financial ..... to completely defeat claims and thus make recovery impossible. apart from that with the apparent involvement of so many financial institutions and banks, most of them nationalised bodies, the possibility also existed of these bodies being embroiled in unnecessary and protracted litigations against each other. this because monies taken out of one bank or .....
Tag this Judgment!Court : Mumbai
Reported in : AIR1976Bom28; (1975)77BOMLR352
..... over by the central government under the industries (development and regulation) act. 1951. on 21st september, 1974, an ordinance called the sick textile undertakings (nationalisation) ordinance , 1974 was promulgated where under with effect from the appointed day i.e. 1st april 1974 the sick textile undertaking of the petitioner -company became vested in the central government and immediately it further stood transferred and vested in the national ..... the first place, he had contended that under section 3 and 4 of the sick textile undertakings (nationalisation) act 1974 being act no. 57 of 1974 on and from the appointed day viz. 1st april 1974 the sick textile undertaking of the original petitioner-company, which has been included in the list of sick textile undertaking in the first schedule, has stood transferred to and vested absolutely in the central .....
Tag this Judgment!Court : Delhi
Reported in : 62(1996)DLT278
..... three lakhs thirty two thousand one hundred eighty six and paise forty four only).'(23) the first defendant had taken the plea that in view of the sick textile undertakings (nationalisation) act, 1974, the plaintiff can make the claim only before the commissioner of payments. sections 20, 21 and 23 and the second schedule are as ..... from the disbursements made by the commissioner. (4) the commissioner shall, after such investigation as may, in his opinion be necessary and after giving the sick textile undertaking an opportunity of refuting the claim and after giving the claimants a reasonable opportunity of being heard, in writing, admit or reject the claim in whole ..... follows:- '20.claims to be made to the commissioner.-every person having a claim against the owner of a sick textile undertaking shall prefer such claim before the commissioner within thirty days from the specified date; provided that if the commissioner is satisfied that the claimant was prevented .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2002SC1841; 2002(3)ALD113(SC); 2002(2)ARBLR676(SC); II(2002)BC430(SC); [2002]110CompCas685(SC); (2002)4CompLJ337(SC); JT2002(4)SC318; (2002)3MLJ144(SC); 2002(3)SCALE574;
..... on behalf of the plaintiff against the defendants, when all assets of the first defendant - company have vested in the government of india under the sick textile undertakings (nationalisation) act (hereinafter referred to as 'the act') and the compensation for the vesting of the mills in the government has already been declared. ..... without consent of the surety/guarantor, the creditor' right of action against the surety is preserved.37. 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 ..... being unable to pay the same.subsequently, respondent no. 3 which had taken over the management of respondent no. 4 became sick and proceedings were initiated under the sick textile undertakings (nationalisation) act, 1974 (for short 'the act'). the appellant filed suit for recovery against the guarantors and the principal-debtor of .....
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 .....
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