Court : Supreme Court of India
..... to pay the same.2. subsequently, respondent 3 which had taken over the management of respondent 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, ..... may not have been 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 ..... respondent 4's management was taken over by u.p. state textile corporation ltd. (respondent3) under the industries (development and regulation) act, advanced some money to the said respondent 4. in respect of the advance so made, respondents 1, 2 and 3 executed deeds of guarantee undertaking to pay the amount due to the bank as guarantors in .....
Tag this Judgment!Court : Supreme Court of India
..... enactment brought in with the object of dealing with sickness in the textile industry was the sick textile undertaking (nationalization) act, 1974 which, inter alia, provided for the reorganisation and rehabilitation of sick textile industries. similarly, the aluminium corporation of india ltd. (acquisition and transfer of aluminium undertaking) act, 1984 and the futwah islampur lightway line (nationalisation) act, 1985 were enacted with similar objects.53. industrial reconstruction bank of ..... india act, 1984 was enacted to provide financial assistance to sick industrial companies for their revival. however, the said .....
Tag this Judgment!Court : Supreme Court of India
..... thereafter the committee was dissolved vide bifr order dated 20.08.2014. it is submitted // 21 // that as per section 3 of the sick textile undertakings (nationalization) act, 1974, the right, title and interest of azam jahi mills shall stand transferred to and shall vest absolutely in the central government. it is submitted ..... it is submitted that no covenant or obligation ran with the land at any point of time. it is submitted that in fact as per the sick textile undertakings (nationalization) act, 1974, the vesting of the land in the central government is free from any trust / obligation / mortgage / charge / lien and all other ..... respondent. it is submitted that the land where the 4th respondent was situated was taken over by the central // 16 // government under the sick textile undertakings (nationalization) act, 1974. that, thereafter, the estate sale committee constituted by the central government sold different extent of the land to the andhra pradesh housing board, kuda .....
Tag this Judgment!Court : Supreme Court of India
..... act ). the appellant filed suit for recovery against the guarantors and the principal debtor of the amount claimed by it. the following preliminary issue was, on the pleadings of ..... 3 executed deeds of guarantee undertaking to 69(2002) 5 scc5470(2002) 5 scc8080 pay the amount due to the bank as guarantors in the event of the principal borrower being unable to pay the same. subsequently, respondent 3 which had taken over the management of respondent 4 became sick and proceedings were initiated under the sick textile undertakings (nationalisation) act, 1974 (for short the .....
Tag this Judgment!Court : Delhi
..... monopolies or enable the creation of state monopolies (such as the banks nationalization laws, insurance business nationalization laws, petroleum and oil companies nationalization laws, textile undertaking nationalization laws etc.), they would fall within the threshold of immunity provided by article 19(6) (ii) as they can legitimately be called laws ..... ) as it originally stood; the subject- matter covered by the said provision being justiciable, and the amendment adds that the state monopolies or nationalisation schemes which may be introduced by legislation, are an illustration or reasonable restrictions imposed in the interests of the general public and must be treated ..... recommended that the manufacture and sale of the oxytocin injections should be banned for veterinary use under section 26a of the drugs, and cosmetics act, 1940 along with the condition that the manufacturers of bulk drug, oxytocin should/supply the manufacturers licensed for manufacture of oxytocin formulation for human .....
Tag this Judgment!Court : Supreme Court of India
..... chapter applicable to the case on hand, being chapter iii of that act, read thus: the textile undertakings (nationalisation) laws (amendment and validation) act, 2014 no.36 of2014[17th december, 2014.]. 4 (2009) 10 scc4645 (2013) 8 scc3376 (1923) vol. 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 ..... with effect from the 24th october, 2014. amendments to the sick textile undertakings (nationalisation) act, 1974 chapter ii xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx chapter iii amendments to the textile undertakings (nationalisation) act, 1995 5. on and from the date of commencement of the textile undertakings (nationalisation) act, 1995 (hereafter in this chapter referred to as the principal act), in section 3, after the following sub sections shall be .....
Tag this Judgment!Court : Supreme Court of India
..... chapter applicable to the case on hand, being chapter iii of that act, read thus: the textile undertakings (nationalisation) laws (amendment and validation) act, 2014 no.36 of2014[17th december, 2014.]. 4 (2009) 10 scc4645 (2013) 8 scc3376 (1923) vol. 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 ..... with effect from the 24th october, 2014. amendments to the sick textile undertakings (nationalisation) act, 1974 chapter ii xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx chapter iii amendments to the textile undertakings (nationalisation) act, 1995 5. on and from the date of commencement of the textile undertakings (nationalisation) act, 1995 (hereafter in this chapter referred to as the principal act), in section 3, after the following sub sections shall be .....
Tag this Judgment!Court : Supreme Court of India
..... chapter applicable to the case on hand, being chapter iii of that act, read thus: the textile undertakings (nationalisation) laws (amendment and validation) act, 2014 no.36 of2014[17th december, 2014.]. 4 (2009) 10 scc4645 (2013) 8 scc3376 (1923) vol. 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 ..... with effect from the 24th october, 2014. amendments to the sick textile undertakings (nationalisation) act, 1974 chapter ii xxx xxx xxx xxx xxx xxx xxx xxx xxx xxx chapter iii amendments to the textile undertakings (nationalisation) act, 1995 5. on and from the date of commencement of the textile undertakings (nationalisation) act, 1995 (hereafter in this chapter referred to as the principal act), in section 3, after the following sub sections shall be .....
Tag this Judgment!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 .....
Tag this Judgment!Court : Chennai
..... as adverted to earlier, the only point that has to be decided in the present writ appeals is as to whether, after passing of the the sick textile undertakings (nationalisation) act, 1974, payment of gratuity etc., would come within the purview of central government or union territory of puducherry? 12. in fact, the high court ..... 180 of 2012 has also equally contended that even though the mill in question has been vested with the central government, as per the the sick textile undertakings (nationalisation) act, 1974, payment of gratuity etc., does not vest with the contour of the central government and therefore, the preliminary point raised by the appellant/ ..... writ petitions has become sick and subsequently has been taken over by the central government by virtue of the act, known as the sick textile undertakings (nationalisation) act, 1974 and as per section 3 of the said act, the said mill has been vested with the central government and therefore, the central government is having power .....
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