The Eastern Distilleries ( Private ) Limited ( Acquisition And Transfer Of Undertakings ) Act, 1983
west-bengal · 1983
The scanned source for this Act is imperfect — headings or section boundaries may be off. Verify against the official source.
- S. 1(1) This Act may be called the Eastern Distilleries (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1
- S. 2Section defines key terms used in the Act, including "appointed day," "Commissioner," "Company," and "notification."
- S. 3Section 3 transfers the company's undertakings and interests to the State Government on a specified day.
- S. 4Section 4 of the Act declares that the State Government's vested properties are freed from encumbrances and requires mortgagees to notify the Commissioner.
- S. 5Section 5 specifies that pre-existing liabilities of the Company remain enforceable against it, except for post-management takeover loans and employee dues, which are government responsibilities.
- S. 6Section 6 allows the State Government to transfer the Company's undertakings to an existing Government company if terms are met.
- S. 7Section 7 allows the State Government to transfer the Company's undertakings from one government company to another if terms are met.
- S. 8Section 8 provides for the payment of rupees seven lakhs and sixty-two thousand to Eastern Distilleries by the State Government for the transfer of its undertakings.
- S. 9Section 9 provides a one-time payment and interest for the management deprivation of Eastern Distilleries, with liabilities discharged from specified amounts.
- S. 10Section 10 details the vesting of control and management of the Company's undertakings in government entities or custodians appointed by the State Government.
- S. 11Section 11 mandates the transfer of the Company's assets and documents to a government company or custodian upon vesting.
- S. 12Section 12 mandates the custodian to maintain and audit the company's accounts, applying the Companies Act, 1956 provisions.
- S. 13Section 13 ensures employees of Eastern Distilleries become state government employees with same rights, no compensation for transfer.
- S. 14Section 14 transfers funds for employees' benefits from the company to the State Government or new government company upon acquisition.
- S. 15Section 15 appoints a Commissioner of Payments to disburse funds and allows the State Government to appoint assistants.
- S. 16Section 16 mandates the State Government to pay specified amounts to the Commissioner for the Company, and establishes a deposit account for these payments.
- S. 17Section 17 allows the State Government or government company to claim money due to the company and prioritize claims for liabilities.
- S. 18Section 18 mandates claimants against the Company to file their claims with the Commissioner within 30 days, with possible extension if justified.
- S. 19Section 19 establishes priority order for claims arising from specified matters in the Schedule during the acquisition and transfer of Eastern Distilleries.
- S. 20Section 20 prioritizes and examines claims for compensation under the Act, halting lower priority claims if funds are insufficient.
- S. 21Section 21 outlines the process for claimants to file proofs of their claims and the Commissioner's authority to investigate and decide on these claims.
- S. 22Section 22 ensures the Commissioner pays claims admitted under the Act, discharging the Company's liability.
- S. 23Section 23 details the disbursement of remaining funds and continued possession of non-Company property by the State Government post-acquisition.
- S. 24Section 24 directs unspent or unclaimed funds paid to the Commissioner to be transferred to the State's general revenue account.
- S. 25Section 25 overrides any conflicting laws or decrees for the Act's provisions.
- S. 26Section 26 mandates contracts by the company to cease unless ratified by the State Government or a Government company, with conditions for refusal or alteration.
- S. 27Any person, who— Penalties
- S. 28Section 28 holds company officers liable for offenses committed by the company, unless they prove lack of knowledge or due diligence.
- S. 29Section 29 protects government officials and entities from legal actions for actions taken in good faith under the Act.
- S. 30Section 30 allows the State Government to delegate its powers under the Act to specified persons, who must act under its direction.
- S. 31(1) The State Government may, by notification, make rules Power to make rules
- S. 32Section 32 allows the State Government to resolve difficulties in implementing the Act, but only within two years, and outlines priority order for company liabilities.