Court : Gujarat
Reported in : (2004)1GLR213
..... by them, namely rs. 38,00,640-30 ps. from 1-4-1974, the appointed day under the sick textile undertaking (nationalisation) act, the textile undertaking of the original-defendant no. 1-mills company was nationalised and vested in the central government for compensation of rs. 83,61,000 and all the properties of the original-defendant ..... , respondent no. 3 which had taken over the management of respondent no. 4 became sick and proceedings were initiated under the sick textile undertaking (nationalisation) act, 1974 (for short 'the act'). the appellant filed suit for recovery against the guarantors and the principal-debtor of the amount claimed by it.the following preliminary issue ..... in respect of the appellant arose subsequent to the date of the suit. it was also contended that on coming into force of the sick textile undertaking (nationalisation) act, 1974 all the properties were vested in the central government and the plaintiff was entitled only to recover its dues from the amount of .....
Tag this Judgment!Court : Gujarat
Reported in : (2003)4GLR325
..... 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 said ..... case, the hon'ble supreme court was dealing with the effect of section 17 of the coking coal mines (nationalisation) act, 1972 which was similar to the provisions of section 14 of the sick textile undertakings (nationalisation) act, 1974. the hon'ble supreme court has observed in this case as under :'section 17 is a special ..... 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 before .....
Tag this Judgment!Court : Gujarat
Reported in : (1996)1GLR526
..... of the petitioner, it is contended that by virtue of section 5 of the gujarat sick textile undertakings (nationalisation) act, 1986 (act no. 25 of 1986) which came into force on and from january 1, 1986, no liability of the owner of the sick textile undertaking in respect of any period prior to the appointed day i.e. january 1, 1986 ..... removal of doubt, it is hereby declared that - (a) save as otherwise expressly provided in this section or in any other section of this act, no liability in relation to the sick textile undertaking in respect of any period prior to the appointed day, shall be enforceable against the state government or the corporation; (b) no liability of ..... removal of doubt, it has been declared that save as otherwise expressly provided in section 5 or in any other section of the said act, no liability in relation to the sick textile undertaking in respect of any period prior to the appointed day can be enforeceable against the state government or the corporation. thus, if the .....
Tag this Judgment!Court : Gujarat
Reported in : [2006]69SCL151(Guj)
..... or likely to be closed, or has gone into liquidation or otherwise. njvm became a part of a unit of gstc by virtue of the provisions of the gujarat state textile undertakings (nationalization) act, 1986. the said act provided for nationalization of total four textile undertakings of which one was njvm. although the ordinance was promolgated on 01.07.1986, it provided for nationalization of the ..... textile undertakings with retrospective effect from 01.01.1986. even prior to such nationalization of the njvm, gstc was connected with njvm as a lessee. njvm got closed in the year 1980. .....
Tag this Judgment!Court : Gujarat
Reported in : [2003]262ITR97(Guj)
..... there was no likelihood of recovering the dues of these debtors whose assets had vested in the state government free from all encumbrances since these textile undertakings were taken over as per the provisions of the gujarat closed textile undertakings (nationalisation) act, 1986. there were, therefore, no assets from which the assessee-company could have effected recovery of the dues in any forcible manner. in the ..... discharge their liabilities. these mills were admittedly taken over under the provisions of the gujarat closed textile undertakings (nationalisation) act, 1986. chapter ii of that act provides for acquisition of the rights of owners of specified textile undertakings. as provided in section 3(1) of the said act, on the appointed day, every specified textile undertaking and the right, title and interest of the owner in relation to every such .....
Tag this Judgment!Court : Gujarat
Reported in : (2003)181CTR(Guj)222
..... there was no likelihood of recovering the dues of these debtors whose assets had vested in the state government free from all encumbrances since these textile undertakings were taken over as per the provisions of the gujarat closed textile undertakings (nationalisation) act, 1986. there were, therefore, no assets from which the assessee-company could have effected recovery of the dues in any forcible manner. in the ..... discharge their liabilities. these mills were admittedly taken over under the provisions of the gujarat closed textile undertakings (nationalisation) act, 1986. chapter n of that act provides for acquisition of the rights of owners of specified textile undertakings. as provided in section 3(1) of the said act, on the appointed day, every specified textile undertaking and the right, title and interest of the owner in relation to very such .....
Tag this Judgment!Court : Gujarat
Reported in : [2009]152CompCas456(Guj); [2008]84SCL457(Guj)
..... i.e. 8.11.1985 were to be discharged out of the said compensation by commissioner of payments appointed under the gujarat closed textile undertakings (nationalization act, 1986 gujarat act 10 of 1986) act in order of the priorities laid down in the act. the liabilities created during the post nationalization period and remaining outstanding as on 6.2.1997 as well as the liabilities created ..... free from any trust, charge line and encumbrances with effect from 1.1.1986 retrospectively. the gujarat state textile undertaking nationalization ordinance, 1986 was repealed and substituted by the gujarat sick textile undertaking nationalization act, 1986. (iii) the textile undertaking was managed by the gstc as an owner of the undertaking. the winding up order against the gstc ltd., was passed on 6.2.1997 by this court .....
Tag this Judgment!Court : Gujarat
Reported in : AIR1987Guj113; (1987)1GLR437
..... the management of the national textile corporation. 5. on april 11, 1977, the bank filed a suit for recovery of rs. 3,94,72 ..... , the mill company was declared as a ' relief undertaking' under the provisions of the bombay relief undertaking (special provisions) act, 1958, for a short period which was extended from time to time up to october, 1974. on september 21, 1974, the ordinance regarding sick textile undertakings came into force which later on took the shape of the sick textile undertakings (nationalisation) act, 1974. thus, the mill company came under .....
Tag this Judgment!Court : Gujarat
Reported in : (1996)3GLR536
..... application for interim injunction (exhibit 5) in civil suit no. 4673 of 1995 rejecting the application. the respondent herein is a government company registered under the companies act. the gujarat closed textile undertakings (nationalisation) act, 1986 ('the act' for brevity) came into force on 8-11-1985. the suit properties originally belonged to new swadeshi mills of ahmedabad limited. the same came to be vested in ..... be stated at the outset that respondent-defendant corporation is a state owned company. in fact, under the provisions of gujarat closed textile undertakings (nationalisation) act, 1986, assets of various closed textile units are vested in respondent-defendant corporation. when any closed textile unit is found to be non-viable economically or even otherwise it decides to dispose of or sell away the assets of such .....
Tag this Judgment!Court : Gujarat
Reported in : (2008)2GLR1048
..... the trial court, under section 114 of the act, 1882, in view of the aforesaid decision, original plaintiff 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 ..... 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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