The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972
Central · 1972
- S. 1Short title.
- S. 2Definitions.
- S. 3Undertaking of the old company to vest in the Central Government.
- S. 4General effect of meeting.
- S. 5Duty to deliver possession of property acquired and documents relating thereto.
- S. 6Duty to furnish particulars.
- S. 7Transfer of employees of the old company.
- S. 8Payment of amount.
- S. 9Formation and registration of a new company.
- S. 10Management of the old company.
- S. 11Custodian to be public servant.
- S. 12Vacation of office by directors, etc., of the old company.
- S. 13Constitution of a Tribunal.
- S. 14Tribunal to call upon persons to make claims.
- S. 15Determination of genuine shares.
- S. 16No compensation for cancellation of spurious shares.
- S. 17Power of Tribunal to entertain and dispose of claims for reimbursement.
- S. 18Suits and legal proceedings, not to be commenced or proceeded with.
- S. 19Decision of the Tribunal to be final.
- S. 20Custodian to reconstruct register of members of the old company.
- S. 21Custodian to issue fresh share certificates.
- S. 22No annual general meeting of the old company to be held before the reconstruction of the register of members.
- S. 23Custodian to file accounts until reconstruction of the register of members of the old company.
- S. 24Penalties.
- S. 25Offences by companies.
- S. 26Offences to be triable by a Magistrate of the first class and not to be compoundable.
- S. 27Protection of action taken in good faith.
- S. 28Contracts, etc., in bad faith may be cancelled or varied.
- S. 29Power to terminate contract of employment.
- S. 30Power to remove difficulty.
- S. 31Power to make rules.