The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986
Central · 1986
- S. 1Short title and commencement.
- S. 2Definitions.
- S. 3Transfer and vesting of the textile undertakings.
- S. 4General effect of vesting.
- S. 5Company to be liable for certain prior liabilities.
- S. 6Transfer of any textile undertaking or part thereof to a Subsidiary Textile Corporation.
- S. 7Shares to be issued by National Textile Corporation for the value of assets transferred to it by the Central Government.
- S. 8Payment of amount.
- S. 9Payment of further amounts.
- S. 10Management, etc., of the textile undertakings.
- S. 10ASpecial provision for disposal of assets of the textile undertakings in certain circumstances.
- S. 11Duty of persons in charge of management of the textile undertakings to deliver all assets, etc.
- S. 12Continuance of employees of the textile undertakings.
- S. 13Provident and other funds.
- S. 14Transfer of employees to a Subsidiary Textile Corporation.
- S. 15Appointment of Commissioner of Payments.
- S. 16Payment by the Central Government to the Commissioner.
- S. 17Certain powers of the National Textile Corporation.
- S. 18Claims to be made to the Commissioner.
- S. 19Priorities of claims.
- S. 20Examination of claims.
- S. 21Admission or rejection of claims.
- S. 22Disbursement of money by the Commissioner to claimants.
- S. 23Undisbursed or unclaimed amount to be deposited with the general revenue account.
- S. 24Act to have overriding effect.
- S. 25Assumption of liability.
- S. 26Contracts to cease to have effect unless ratified by National Textile Corporation.
- S. 27Penalties.
- S. 28Offences by companies.
- S. 29Protection of action taken in good faith.
- S. 30Delegation of powers.
- S. 31Power to make rules.
- S. 32Power to remove difficulties
- S. 33Repeal and saving.