Court : Mumbai
Reported in : 1996(5)BomCR128; [1996(73)FLR1598]; (1998)IIILLJ820Bom
..... learned counsel for the petitioner tried to come out of the ambit of this authority by referring to the textile undertakings (nationalisation) act, 1995. ..... the apex court interpreted section 3(7) of the textile undertakings (taking over of management) act, 1983 and came to the conclusion that the liability incurred by the textile company in relation to the textile undertaking before the appointed day shall be enforceable only against the concerned textile company and not against the central government or the custodian. ..... this act provides for the acquisition and transfer of the textile undertakings and the right, title and interest of the owners in respect of the textile undertakings, specified in the first schedule with a view to augmenting the production and distribution of different varieties of cloth and yarn so as to subserve the interest of the general public and for matters connected therewith or incidental thereto. ..... aggrieved against this order, the first respondent filed an appeal under section 17 of the act before the court of small causes at bombay. ..... the appellate court after examining the case came to the conclusion that the order of the authority appointed under the act in so far as it has foisted the liability on the first respondent cannot be sustained. ..... the first respondent was also made a party to the said application. .....
Tag this Judgment!Court : Supreme Court of India
..... 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. ..... interest 38 in, or in relation to, any such property' shall be entitled" to claim, in accordance with his rights and interests, payment of the mortgage maps or other dues, in whole or in part, out of the amounts specified in relation to such property in the first schedule, but no such mortgage, charge, lien or other interest shall be enforceable against any property which has vested in the central government. ..... (1) this act shall, in the first instance, apply to premises let for the purposes of residence, education, business, trade or storage in the areas specified in schedule i and schedule ii. ..... the expression "bank" means, (i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the banking companies (acquisition and transfer of undertaking) act, 1980; or (iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the reserve bank of india .....
Tag this Judgment!Court : Supreme Court of India
..... 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. ..... interest 38 in, or in relation to, any such property' shall be entitled" to claim, in accordance with his rights and interests, payment of the mortgage maps or other dues, in whole or in part, out of the amounts specified in relation to such property in the first schedule, but no such mortgage, charge, lien or other interest shall be enforceable against any property which has vested in the central government. ..... (1) this act shall, in the first instance, apply to premises let for the purposes of residence, education, business, trade or storage in the areas specified in schedule i and schedule ii. ..... the expression "bank" means, (i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the banking companies (acquisition and transfer of undertaking) act, 1980; or (iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the reserve bank of india .....
Tag this Judgment!Court : Supreme Court of India
..... 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. ..... interest 38 in, or in relation to, any such property' shall be entitled" to claim, in accordance with his rights and interests, payment of the mortgage maps or other dues, in whole or in part, out of the amounts specified in relation to such property in the first schedule, but no such mortgage, charge, lien or other interest shall be enforceable against any property which has vested in the central government. ..... (1) this act shall, in the first instance, apply to premises let for the purposes of residence, education, business, trade or storage in the areas specified in schedule i and schedule ii. ..... the expression "bank" means, (i) the state bank of india constituted under the state bank of india act, 1955; (ii) a subsidiary bank as defined in the state bank of india (subsidiary banks) act, 1959; (iii) a corresponding new bank constituted under section 3 of the banking companies (acquisition and transfer of undertakings) act, 1970 or under section 3 of the banking companies (acquisition and transfer of undertaking) act, 1980; or (iv) any other bank, being a scheduled bank as defined in clause (e) of section 2 of the reserve bank of india .....
Tag this Judgment!Court : Delhi
..... . the respondent no.2 was nationalized with effect from 1st april 1994 under the textile undertaking (nationalisation) act, 1995 (hereinafter called, the said act ) and prior to takeover of the management of the respondent no.2 under the said act, a sum of money to the extent of rs.11,70,39,000/- became due and payable by the respondent no.2 to the claimant ..... the act aforesaid was enacted to provide for the acquisition and transfer of the textile undertakings and the right, title and interest of the owners in respect of textile undertakings specified in the first schedule thereto and of which, prior thereto, management had already been taken over by the central government under section 3 of the textile undertakings (taking over of management) act, 1983.11. ..... proceedings were subsequently transferred to the debt recovery tribunal (drt); (iv) that as per section 8 read with first schedule of the act aforesaid, the earlier owner company was entitled to an amount of rs.1,95,20,000/- from the central government for transfer to and vesting in the central government of its right, title and interest in the said textile undertaking; (v) that section 17 of the said act provided for the appointment of a commissioner of payment for disbursement of the aforesaid amount to the earlier owner .....
Tag this Judgment!Court : Supreme Court of India
Reported in : AIR1996SC710; JT1995(9)SC186; (1996)ILLJ787SC; 1995(6)SCALE609; (1996)1SCC313; [1995]Supp5SCR641; 1996(1)LC456(SC)
..... 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 ntc is also borne out by the textile undertakings (nationalisation) ordinance, no. ..... under section 3 of the said ordinance, the right, title and interest of the owner in relation to every textile undertaking mentioned in the first schedule to the act stands transferred and vests absolutely in the central government on the appointed day, i.e. ..... a perusal of the aforementioned provisions would show that under sub-section (1), the management of the textile undertaking specified in the first schedule to the act vested in the central government on and from the appointed i.e. ..... in section 2(d) the expressions 'textile undertakings' or 'the textile undertaking' are defined to mean an undertaking specified in the second column of the first schedule to the act.5. ..... these provisions are similar to those contained in section 21 of the sick textile undertakings (nationalisation) act, 1974. in m. ..... 6 of 1995 also show that the liabilities for the period prior to the take over of the management are to be discharged from the amount payable to the owner of the textile undertaking for the acquisition of the undertaking and not by the ntc. ..... 6 of 1995 promulgated by the president on june 27, 1995. .....
Tag this Judgment!Court : Mumbai
Reported in : 1998(1)BomCR407; 1997(3)MhLj456
..... is also borne out by the textile undertakings (nationalisation) ordinance, no. ..... the textile undertaking or textile undertakings are defined in section 2(d) of the act of 1983 which read thus: '2(d) 'textile undertakings' or 'the textile undertaking' means an undertaking second column of the first schedule; 7. ..... under section 3 of the said ordinance, the right, title and interest of the owner in relation to every textile undertaking mentioned in the first schedule to the act stands transferred and vests absolutely in the central government on the appointed day, i.e. ..... section 8 of the said ordinance provides that the owner of every textile undertaking shall be given by the central government, in cash and in the manner as specified in chapter vi, for the transfer to and vesting in it, under sub-section (1) of section 3, of such textile undertaking and the right, title and interest of the owner in relation to such textile undertaking, an amount equal to the amount specified against it in the corresponding entry in column (4) of the first schedule. ..... these provisions are similar to those contained in section 21 of the sick textile undertakings (nationalisation) act, 1974. in m. ..... 6 of 1995 also show that the liabilities for the period prior to the take over of the management are to be discharged from the amount payable to the owner of the textile undertaking for the acquisition of the undertaking and not by the n.t.c. ..... 6 of 1994 promulgated by the president on june 27, 1995. .....
Tag this Judgment!Court : Kolkata
Reported in : (2008)3CALLT530(HC),2008(4)CHN243
..... subsequently, the nationalisation act of textile undertaking came into force known as the textile undertakings (nationalisation) act, 1995 which came into effect from 1st of april, 1994.4 ..... perusal of the various provisions of the act would show that it is confined to take over the management of the textile undertakings of the companies which are specified in the first schedule of the 1983 act pending nationalization of such, undertaking. ..... under section 2(c) textile undertaking means an undertaking specified in the second column of the first schedule, whereas a textile company means a company which is defined in the 3rd column of the first schedule as owning the undertaking specified in the corresponding entry in the second column of that schedule. ..... 31, chowringhee road, calcutta and more fully mentioned in the schedule annexed herein to and marked 'a' and the said property business and other business of your petitioner ..... chowringhee road, calcutta and more fully mentioned in the scheduled annexed hereto and marked. ..... estate division or the industrial galas separately in the schedule of fixed assets. ..... even the schedule of fixed assets does not indicate that the alleged real estate division comprising of the surplus lands apart from 40,456 square yards which now form part of the mill precincts have been ..... of the existing occupants of the said building and the capacity in which the said occupants are occupying therein different portions have been given in a schedule marked 'annexure c'. .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1994]80CompCas30(P& H)
..... , malout mandi, in the first schedule to the sick textile undertakings (taking over of management) act, 1972, as a sick textile mill and further inclusion of the said mills in the schedule to the sick textile undertakings (nationalisation) act, 1974, is against the provisions of section 2(b)(ii) of the take-over act. ..... the nationalisation act was enacted to provide for the acquisition and transfer of the sick textile undertakings and the right, title and interest of the owners in respect of sick textile undertakings specified in the first schedule with a view to reorganising and rehabilitating such sick textile undertakings so as to subserve the interest of the general public by the augmentation of the production .and distribution, at fair prices, of different varieties of cloth and yarn and for matters connected therewith or incidental thereto. ..... in order to avoid such cumbersome course and for the sake of convenience, the legislature has mentioned in the first schedule in both the take-over act and the nationalisation act the names of all sick textile undertakings in the country. ..... it is apparent from a reading of the definition under section 2(1)(j) that all the sick textile units which were mentioned in the first schedule to the take-over act were included in the definition of sick textile undertakings under the nationalisation act,15. .....
Tag this Judgment!Court : Supreme Court of India
Reported in : 1986(2)SCALE536; (1986)4SCC368; [1986]3SCR937; 1987(1)LC288(SC)
..... in order to avoid such cumbersome course and for the sake of convenience, the legislature has mentioned in the first schedule in both the take-over act and the nationalisation act the names of all sick textile undertakings in the country. ..... there is, therefore, no substance in the contention of the petitioners that the compensation specified in first schedule to the nationalisation act in respect of the undertakings of the company is illusory. ..... moreover, the sick textile undertakings of the company have been specified in the first schedule to the take-over act and by virtue of section 4(1) of the take-over act, the undertakings of the company have vested in the central government as sick textile undertakings.6. ..... by including certain textile undertakings as sick textile undertakings in the first schedule to the take-over act, the legislature has not made any judicial or quasi-judicial determination, nor has the legislature given any judgment, as contended on behalf of the petitioners, although such inclusion is sometimes loosely expressed as 'legislative judgment'. ..... but when an undertaking has been specified in the first schedule to the take-over act as a sick textile undertaking, the question of giving an opportunity to the owner of the undertaking does not at all arise. ..... section 4(1) of the take-over act provides that on or before the appointed day, the management of the sick textile undertakings specified in the first schedule shall vest in the central government. .....
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