Judgment Search Results Home > Cases Phrase: textile undertakings nationalisation act 1995 section 2 definitions Court: delhi Page 1 of about 1,572 results (0.153 seconds)

National Textile Corporation Vs. Subhkarandas Chiranjilal and ors.

Court : Delhi

Reported in : 62(1996)DLT278

..... 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 follows:- ..... 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 or ..... '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 .....

National Textile Corporation Ltd Vs. Union of India and Anrq

Court : Delhi

..... is as under: 2. 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 ..... are quite vague and ambiguous, but the position which emerges is: (i) that with effect from 1st april, 1994, by virtue of section 3(1) of the textile undertakings (nationalisation) act, 1995 the right, title and interest of shree sitaram mills limited (hereinafter called the earlier owner company ) in relation to its ..... government; suffice it is to state that the loans advanced by the banks including the nationalised banks do not find mention in subsection (2); section 5(3)(b) further provides that no award, decree or order of any court in relation to any textile undertaking, passed after 1st april, 1994 in respect of any matter, claim or dispute which .....

National Textile Corporation and Another Vs. V.C. JaIn and anr.

Court : Delhi

Reported in : 2000IIIAD(Delhi)407; 2000(53)DRJ358; (2000)IILLJ288Del

..... subsidiary corporation of the ntc which the ntc had created b4y virtue of the power conferred by section 6 of the sick textile undertaking (nationalisation) act, 1974. as per the terms and conditions of service he could be transferred to any other subsidiary textile corporation also. in any case, after the termination of his services the petitioner had been making representations to the ntc also ..... of his performance evaluation and in appreciation of the same. following the sick textiles undertakings (nationalisation) act, 1974 (hereinafter called act) the management of 21 of the 25 sick textile mills was transferred from the mstc to the national textile corporation (hereinafter referred to as ntc) which is a government of india undertaking constituted under the act. on march 21, 1975 the mstc wrote to the petitioner that as .....

Central Government Vs. the Commissioner of Payments and anr.

Court : Delhi

Reported in : 46(1992)DLT246

..... , the sick industrial undertaking (nationalisation) act 1974 was promulgated. the sick mills including respondent no. 2 whose management was not taken over under the act of 1972, were sought to be nationalised. there is no grievance in the present petition with regard to (he act of nationalisation. (4) section 10 of the said act provides for accounts to be rendered by the owners of sick textile undertaking who did not ..... in fact hand over the management of the sick textile undertakings. sub-section (1) of secion 10 requires the owners of such sick textile undertakings to render an account to the central government of .....

National Textile Limited vs.padmavati Buildtech Anad Farms Pct. Ltd an ...

Court : Delhi

..... in madhya pradesh was taken over by the central government under the textile undertaking (taking over of management) act 1983 and nationalised under the textile undertaking (nationalisation) act, 1995.3. ntc, a government company within the meaning of section 617 of the companies act 1956, wholly owned by the government of india, under the administrative ..... control of the nodal ministry, being the ministry of textiles, has taken over the undertakings and assets of several textile ..... ) is required to be deposited as per clause 2.6 below by way of a bank draft/pay order or irrevocable bank guarantee of nationalised/scheduled commercial banks (excluding co-operative/rural banks) notified by rbi, payable at mumbai along with bid in respect of this land. ii .....

Bengal Luxmi Cotton Mill Vs. Collector of Central Excise

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1984)(15)ELT472TriDel

..... stage.6. on the question of liability of the ntc, of which the present appellants are a unit, shri bannerjee referred to the provisions of section 5 of the sick textile undertakings (nationalisation) act, 1974, which run as follows :- "(1) every liability, other than the liability specified in sub-section (2) of the owner of a sick ..... the following arguments :- (a) all the demands were wholly or substantially barred by limitation ; (b) the appellants were one of the textile mills taken over by the central government under the sick textile undertakings (nationalisation) act, 1974, with effect from 1-4-1974; and became a unit of the national textile corporation (west bengal, assam, bihar and orissa) limited which was a subsidiary of the national .....

U.P. State Sugar Corporation Ltd. Vs. Coll. of C. Ex.

Court : Customs Excise and Service Tax Appellate Tribunal CESTAT Delhi

Reported in : (1996)(81)ELT317TriDel

..... same may be discharged in the manner provided in the act and to the extent of the compensation payable. in the u.p. sugar undertaking (acquisition) act also, sections 7 and 8 corresponding to section 7 of the gujarat sick textile industries (nationalisation) act, 1986 provide for determination and mode of payment of compensation ..... and specify the nature of claims to be specified out of the compensation. section 6(a) specifically provides for deduction of any amount due on account of any debt, mortgage, charge on encumberance or lien, trust or similar obligation attached to the scheduled undertaking ..... sugar factories which have been acquired and vested in the u.p. state sugar corp. under the provisions of the u.p. sugar undertaking (acquisition) act, 1971 which enactments is made under item 42 of the concurrent list of the 7th schedule. this is so because this legislative powers of .....

Ksl and Industries Ltd and Another Vs. National Textiles Corporation L ...

Court : Delhi

..... transfer of assets of sick mills is taking place under the mandate of the group of ministers, in view of section 11a of the sick textile undertaking (nationalization) act, 1974. a contract by an instrumentality of the state is not a purely commercial transaction, like one between purely private parties. rather it ..... estate. the respondent ntcl is a central public sector enterprise under the ministry of textiles, which was incorporated for managing the affairs of sick textile undertakings in the private sector, taken over by the government. ntcl owned several textile mills for which proceedings before the board for industrial and financial reconstruction (bifr) were ..... agreed to incorporate a company, which will act as the joint venture vehicle inter se between ntc and the strategic partner, which will in turn own, operate and run the said textile mill. e. however, pending execution of the necessary definitive agreements, including the undertaking transfer agreement, lease deed and the share .....

Hall and Anderson Ltd and anr Vs. National Textile Corporation Ltd and ...

Court : Delhi

..... petitioners company came to be nationalized in the year 1995 and vested in respondent no.1/national textile corporation ltd. under the provisions of the textile undertakings (nationalization) act, 1995. the provisions of the aforesaid act were challenged by the petitioner no.1. the disputes between the parties in this regard were amicably settled in terms of a settlement recorded before the honble supreme court ..... is that respondent no.1 ntc has entered into a joint venture with several other land owners whose land also came to be vested in it under the above referred act. the petitioner also made a representation to respondent no.1 on 08.05.2009, seeking to enter into similar arrangement with respect to the land which was earlier owned by .....

Punjab National Bank Vs. Inspecting Assistant Commissioner.

Court : Delhi

Reported in : [1989]30ITD245(Delhi); (1989)34TTJ(Del)359

..... 11-6-1981, advised that compensation amount in respect of debtor and the claim of the bank falls under category iv of second schedule to the sick textile undertakings [nationalization] act, the claim of the bank was rejected. the matter was then referred to the law ministry of the govt. of india and as per the opinion sought ..... question has been written off as irrecoverable in the accounts of the assessed for that previous year. so once it is established by the decision taken by a nationalised bank that the debt had become irrecoverable, whose decisions were subject to severe and intensive scrutiny by independent outside agencies like reserve bank of india, its decision ..... were circumstances to show that the write off was for considerations other than banking considerations, no attempt should be made normally to question the decision of the nationalised bank and disallow the amount. here we find that all steps necessary were taken by the bank before writing off the amount as bad debt and it .....