Court : Supreme Court of India
Reported in : 1998VAD(SC)443; AIR1998SC2658; [1999]96CompCas171(SC); JT1998(5)SC174; 1998(4)SCALE277; (1998)6SCC294
..... , read thus:'2(1).(a) 'appointed day' means the 1st day of april, 1994; (m) 'textile undertaking' or 'the textile undertaking' means an undertaking specified in column (2) of the first schedule, the management of which was, before the appointed day, taken over by the central government under the textile undertaking (taking over of management) act, 1983, or as the case may be, under the laxmirattan and atherton ..... effect from 18th october, 1983, the management of the textile undertakings specified therein was vested in the central government by virtue of the textile undertakings (taking over of management) act , 1983. the textile undertakings (nationalisation) ordinance, 1995 was promulgated on 27th june, 1995. it was replaced by the textile undertakings (nationalisation) act, 1995 (hereinafter referred to as the 'act'). the aforesaid textile undertakings were, thereby, vested in the appellant with effect .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1987SC1255; (1987)2CompLJ130(SC); JT1987(2)SC73; 1987(1)SCALE693; (1987)2SCC539; 1987(1)LC534(SC)
..... from july 1, 1966.3. after the promulgation of the sick textile undertakings (taking over of management) ordinance, 1972. hereinafter referred to as the take-over ordinance, on october 31, 1972, the management of the textile undertaking of the petitioner-company was taken over by the state government as a sick textile undertaking. the take over ordinance was replaced by the sick textile undertakings (taking over of management) act, 1972, hereinafter referred to as the ..... take over act. on september 21, 1974, the sick textile undertakings vested in the government under the nationalisation act.4. the first point that has .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1986(2)SCALE536; (1986)4SCC368; [1986]3SCR937; 1987(1)LC288(SC)
..... , panipat woollen & general mills co. ltd., hereinafter referred to as 'the company', has challenged the taking over of the management of its two textile mills under the sick textile undertakings (taking over of management) act, 1972 (for short 'take-over act') and also the constitutional validity of the take-over act and the sick textile undertakings (nationaliisation) act, 1974 (for short 'the nationalisation act').2. it appears that the company had ..... as sick textile undertakings. in other words, the legislature has itself decided the undertakings of the company to be sick textile undertakings. indeed, in the first schedule all the sick textile undertakings have been specified. thus, it is apparent that the legislature has not left it to the executive to decide whether a particular textile undertaking is a sick textile undertaking or not. if under the take-over act the question whether a textile undertaking is a sick textile undertaking or .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1987SC167; [1986]60CompCas1083(SC); JT1986(1)SC450; 1986(2)SCALE442; (1986)4SCC276; 1986(2)LC610(SC)
..... , on august 1, 1970, the spinning unit was closed down. thereafter, the management of the undertaking was taken over first under the sick textile undertakings (take over of management) ordinance and then under the sick textile undertakings (take over of management) act. this was followed by its nationalisation under the sick textile undertakings (nationalisation) act. the take over of management and the subsequent nationalisation are questioned in this writ petition which was originally ..... of 1983. date of the commencement of the sick textile undertakings (taking over of management) ordinance, the spinning undertaking had become useless beyond redemption and as there was no chance of re-starting the undertaking with reasonable inputs the undertaking could not be considered to be a sick textile undertaking within the meaning of the definition in section 2(d)(ii) of the sick textile undertakings (taking over of management) act.3. in support .....
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;
..... , one additional issue which stood considered by both the trial court as well as the appellate court to wit, the effect of the nationalisation act (sick textile undertakings (taking over of management) act, 1972) and it is on this score the trial court stated as below :-'so far as the assets that were taken ..... 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. ..... the first defendant acknowledged the liability but failed to repay. defendants 2 to 6, however, repudiated their liability on 21.12.1974.14. incidentally, the sick textile undertakings (nationalisation) ordinance was promulgated under which the two units of the first defendant at cannanore and mahendra were nationalised. the ordinance was replaced by act 57 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1978SC476; [1978]48CompCas350(SC); [1978(36)FLR231]; (1978)1SCC490; [1978]2SCR499; 1978(10)LC77(SC)
..... of an interim order passed by this court on 28th september, 1973 in a writ petition challenging the validity of the sick textile undertakings (taking over of management) act, 1972 as also the impact of the sick textile undertakings (nationalisation) act, 1974 on the proceedings taken in this case both before and after the passing of the interim ..... order by this court.2. for short we shall refer to the appellant maharashtra state textile corporation as m.s.t.c., the official liquidator as o.l., the sick textile undertakings (taking over of management) act of 1972 as the management act and incase of the ordinance which had preceded that ..... act as the management ordinance. the sick textile undertakings (nationalisation) act 1974 will be referred to as the nationalisation act.3. the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1987SC110; 1986(2)SCALE253; (1986)4SCC1; 1986(2)LC568(SC)
..... management and the new lessee managed to start the mill just before the appointed day under the sick textile undertakings (taking over of management) act and appeared to be resourceful and confident, it did not follow that the mill was not a sick textile undertaking. the second report on which the counsel placed reliance was that of the collector of the ..... value to this report. we do not think that the legislative opinion expressed by the inclusion of the mill in the schedule to the sick textile undertakings (taking over of management) act has in any way been displaced by the material placed before us. the writ petition is therefore dismissed. ..... their lessees are the petitioners in these three writ petitions in which the take over of the management and the nationalisation of the sick textile undertaking, adoni cotton mills, are questioned. the only ground of attack was that the adoni cotton mills was not a sick textile undertaking at all and that it had been so classified merely because the .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR2006SC2927; [2006]134CompCas164(SC); (2006)6CompLJ448(SC); JT2006(7)SC285; 2006(7)SCALE627
..... or body of persons authorized under the industries (development and regulation) act, 1951, or the sick textile undertakings (taking over of management) act, 1972, to take over the management of the whole or any part of the sick textile undertaking 4. before the commissioner of payments, the creditors became entitled to file their respective claims for ..... the controller and availing of the credit facilities which were available to the owner of the textile mills so as to enable it to carry on the manufacture operation thereof after its take over. the textile undertakings were sick ones. the managements of such mills were taken over for the purpose of revival thereof. ..... 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 .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1987SC55; [1987]61CompCas1(SC); JT1986(1)SC385; 1986(2)SCALE399; (1986)4SCC249; 1986(2)LC596(SC)
..... the question raised in this case is whether the ginning and pressing factory of the petitioner which was taken over along with the textile undertaking under the provisions of the 'sick textile undertakings' (taking over of management) act was validly so taken over. the answer to the question depends on whether the ginning and pressing factory ..... . in the view that the ginning and pressing factory was part and parcel of the textile undertakting, it is not necessary for us to go into the broader question whether under section 4(3) of the sick textile undertakings (taking over of management) act, even a separate and distinct establishment may be taken over as ..... 'property, in the ownership, possession, power or control of the textile company'. textile company itself in defined as the company specified in the third .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1989SC1331; [1989]66CompCas1(SC); (1989)2CompLJ41(SC); JT1989(2)SC19; 1989(1)SCALE722; (1989)2SCC481; [1989]2SCR127; 1989(2)LC114(SC)
..... over by the central government under the industries (development and regulation) act, 1951, or as the case may be, vested in the central government under the sick textile undertakings (taking over of management) act, 1972. it is not disputed that management of petitioner no. 1 had been taken over under the 1972 act and petitioner no ..... out. the establishment had thus closed down and according to the petitioners the textile undertaking had completely disappeared by 1969, and the act did not apply to it. again, the 1974 act was ultra vires the constitution.3. the sick textile undertakings (taking over of management) ordinance 9 of 1972 became operative from 31.10.1972. ..... item 41 of the first schedule to the ordinance mentioned petitioner no, 1 us one of the textile undertakings whose management was to be taken over and possession was, .....
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