Court : Chennai
Reported in : (2007)ILLJ140Mad
..... deny relief to 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 government has failed to discharge ..... its responsibility for all these years by raising such specious pleas. the central government has to discharge its responsibility de hors the bifr schemes. 27. in the light of the provisions of the epf act, and .....
Tag this Judgment!Court : Supreme Court of India
Reported in : [2002]112CompCas150(SC); (2002)5SCC80
..... same. 2. 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 the amount claimed by it. 3. the following preliminary issue was, on ..... the appellant may not be able to recover money from the principal-borrower. it may here be added that even as a result of the nationalisation act the liability of the principal-borrower does not come to an end. it is only the mode of recovery which is referred to in the said ..... was taken over by the u. p. state textile corporation limited (respondent no. 3) under the industries (development and regulation) act, advanced some money to the said respondent no. 4. in respect of the advance so made, respondents nos. 1, 2 and 3 executed deeds of guarantee undertaking to pay the amount due to the bank as guarantors .....
Tag this Judgment!Court : Kolkata
Reported in : (1995)2CALLT358(HC),(1997)IIILLJ135Cal
..... follows. the petitioner who was an employee of a private mill viz. sodepur cotton mills which was ultimately taken over under the provisions of sick textile undertakings (nationalisation) act, 1974 by national textile corporation and that on july 20, 1987 the said corporation served a notice of retirement intimating him that he would retire from service on october ..... age of sixty years on the basis of any statutory rule or notification or an agreement arrived at between the employees' union and the unit concerned before nationalisation or thereafter. it was also held that no case of discriminatory treatment could be made out and accordingly the learned judge dismissed the writ application.4. ..... in this connection reference was also made on a decision of prabir kumar majumdar, j. in matter no. 2171 of 1986 (ashis ghosh v. national textile corporation). in that case it was held that it could only be established in the writ application that the writ petitioner was entitled to be superannuated at .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Mumbai
Reported in : [1985]57CompCas511(Bom)
..... continue the suit inasmuch as the company's right to sue the respondent had not become vested in them under the provisions of the said sick textile undertakings (nationalisation) act. as, however, a complete trial had taken place, the learned judge proceeded to give his findings on all the issues which has been raised. ..... now to the first point, namely, that of maintainability, before we refer to the relevant sections of the sick textile undertakings (nationalisation) act, 1974 (hereinafter for the sake of brevity referred to as 'the act'), we may observe that it is somewhat difficult to understand the order passed by the trial court on the application ..... by the respondent.9. by a notification dated july 14, 1970, the maharashtra state textile corporation was appointed the authorised controller of the company in place of the said nevatia. on december 21, 1974, the sick textile undertakings (nationalisation) act, 1974 (no. 57 of 1974), was passed by parliament replacing an ordinance which had .....
Tag this Judgment!Court : Madhya Pradesh
Reported in : (1999)153CTR(MP)330
..... as envisaged in the act. the corporation later claimed a deduction of rs. 94,36,506 for ..... the liability of the gratuity of the pre-nationalisation period?'2. the assessee is a corporation owned by the government of mp. it took over all assets of sick textiles mills as per their value shown in the balance sheet as on 31st march, 1974, pursuant to sick textile undertakings (nationalisation) act, 1974. it also took over certain liabilities ..... '7. the present case falls in the later category because the assessee- corporation had made a provision of a reserve at the time of the nationalisation of the sick textile units out of which gratuity was paid to the employees over a period of time and also during the year under assessment. therefore, it was .....
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)
..... article 32 of the constitution is by two petitioners-petitioner no. 1, a private company and the other a director thereof. the petitioners have challenged the vires of the sick textile undertakings (nationalisation) act, 1974 (57 of 1974) and have asked for a direction to the respondents to restore the mills to the : petitioners in the same condition as it was on 31.10 ..... .1972 but was deemed to be in force from 31.10.1972. the petitioners had challenged the validity of the act by filing a writ petition before the high court of madras but during the pendency of the writ petition the sick textile undertaking (nationalisation) ordinance. 12 of 1974, came into force from 1.4.1974, and petitioner no. 1 featured as item 96 .....
Tag this Judgment!Court : Chennai
Reported in : AIR1988Mad267
..... way of an equitable mortgage from the mills. the mills was initially taken over under the sick textitle undertakings (takingover of management) act, 1972(,act 72 of 1972). subsequently, pursuant to the provisions of the sick textile undertakings (nationalisation) act, 1974 (act 57 of 1974), hereinafter referred to as the act the mills have come to vest in the central government and subsequently transferred to and vested in the ..... -6-1968 the entire limits was fully availed on 26-2-1970. the management of the captioned mills has been taken over by the tamil nadu national textile corporation, on 20-11-1972 and later nationalised on 21-9-1974. as the mills has defaulted to pay all the five annual instalments with interest which fell due from 26-2-1971 to .....
Tag this Judgment!Court : Punjab and Haryana
Reported in : [1986]159ITR837(P& H)
..... that it was legally impossible for the assessee to recover its dues from the cotton mills as the mills had been taken over as a sick textile undertaking under the sick textile undertakings (nationalisation) act, 1974, and, therefore, there was almost no chance for the recovery of rs. 75,000. against the aforesaid order, the commissioner of ..... . the assessee tried its level best to realise the aforesaid amount but in vain. ultimately, the cotton mills were taken over as a sick textile undertaking under the sick textile undertakings (nationalisation) act, 1974. in the assessment year 1971-72, the assessee claimed deduction of rs. 75,000 as a bad debt. the assessee did not ..... 375, a sum of rs. 75,000 was claimed as a bad debt from the cotton mills, which became a sick textile undertaking and was taken over as such under the sick textile undertakings (nationalisation) act, 1974. the tribunal has recorded a finding on consideration of the facts on record that they reasonably point to an inference .....
Tag this Judgment!Court : Gujarat
Reported in : (1997)138CTR(Guj)336; [1997]226ITR605(Guj)
..... its order dt. 30th march, 1979 held that the said company was taken over by the government only on 21st dec., 1974 under the provisions of the sick textile undertakings nationalisation act, 1974, and, therefore, it could not be said that the debt had become bad during the accounting year. the tribunal held on the strength of a ..... and passed on to the authorised controller on 8th oct., 1971. later, on 21st dec., 1974, it was taken over under the sick textile undertakings (nationalisation) act, 1975.' this modification is material because while making the earlier order the tribunal had proceeded on the footing that the government had taken over the ..... government had passed the order of takeover of management on 8th oct., 1971 and thereafter, the company was dealt with under the provisions of the sick textile undertakings (taking over of management) act, 1972 on 21st dec., 1974. thus, the government came into picture only after 8th oct., 1971 as per the correct position. the tribunal, however .....
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