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Thread: Ministry of Textiles - The Textiles Undertakings (Nationalisation) Act, 1995

  1. #11
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    Thumbs up The Textiles Undertakings (Nationalisation) Act,1995 - CHAPTER- IV - Section -11- Special provision for disposal of assets of the textile undertakings

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - IV

    Section - 11.

    Special provision for disposal of assets of the textile undertakings in certain circumstances.


    If the National Textile Corporation considers It necessary or expedient for the better management, modernization, restructuring or revival of a textile undertaking so to do, it may, with the previous sanction of the Central Government, transfer, mortgage; sell or otherwise dispose of any land, plant, machinery or any other assets of any of the textile undertakings:

    Provided that the proceed of no such transfer, mortgage, sale or disposal of assets shall be utilized for any purpose other than the purpose for which the sanction of the Central Government has been obtained.


  2. #12
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - IV - Section -12 - Duty of persons in charge of management of textile undertakings

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - IV
    Section - 12

    Duty of persons in charge of management of textile undertakings to deliver all assets etc.


    On the vesting of the management of a textile undertaking in the National Textile Corporation, all persons In charge of the management of such textile undertaking immediately before such vesting shall be bound to deliver to the National Textile Corporation all assets, documents In their custody relating to the textile undertaking.

  3. #13
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - IV - Section - 13 - Accounts

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - IV
    Section -13.

    Accounts.


    The National Textile Corporation shall maintain the accounts of the textile undertakings in accordance with the provisions of the Companies Act, 1956. (1 of 1956.)

  4. #14
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - V - Section - 14 - PROVISIONS RELATING TO EMPLOYEES OF TEXTILE UNDERTAKINGS

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - V

    PROVISIONS RELATING TO EMPLOYEES OF TEXTILE UNDERTAKINGS

    Section - 14

    Employment of certain employees to continue.


    (1) Every person who is a workman within the meaning of the Industrial Disputes Act, 1947, (14 of 1947.) and has been, immediately before the appointed day, in the employment of a textile undertaking shall become, on and from the appointed day, an employee of the National Textile Corporation, and shall hold office or service 'in the National Textile Corporation with the same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if the rights in relation to such textile undertaking had not been transferred to, and vested in, the National Textile Corporation, and shall continue to do so unless and until his employment in the National Textile Corporation is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the National Textile Corporation.

    (2) Every person who is not a workman within the meaning of the Industrial Disputes Act, 1947, (14 of 1947.) and who has been, immediately before the appointed day, in the employment of a textile undertaking shall, in so far as such person is employed in connection with the textile undertaking which has vested in the National Textile Corporation, become, as from appointed day, an employee of the National Textile Corporation and shall hold his office or service therein by the same tenure, at the same remuneration and upon the same terms and conditions and with the same rights and privileges as to pension and gratuity and other matters as lie would have held the same under the textile undertaking if it had not vested in the National Textile Corporation and shall continue to do so unless and until his employment in the National Textile Corporation is duly terminated or until his remuneration, terms and conditions of employment are duly altered by the National Textile Corporation.

    (3) Notwithstanding anything contained in the Industrial Disputes Act, 1947, (14 of 1947.) or in any other law for the time being in force, the transfer of the services of any officer or other employee of a textile undertaking to the National Textile Corporation shall not entitle such officer or other employee to any compensation under this Act or any other law for the time being in force and no such claim shall be entertained by any court, tribunal or other authority.

    (4) Where, under the terms of any contract of service or otherwise, any person whose services become terminated or whose services become transferred to the National Textile Corporation by reason of the provisions of this Act is entitled to any arrears of salary or wages or any payment for any leave not availed of or other payment, not being payment by way of gratuity or pension, such person may, except to the extent such liability has been taken over by the Central Government under section 5, enforce his claim against the owner of the textile undertaking but not against the Central Government or the National Textile Corporation.

  5. #15
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - V - Section - 15 - Provident and other funds

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - V

    Section - 15.

    Provident and other funds.


    (1) Where the owner of a textile undertaking has established a provident fund, superannuation, welfare or other fund 'for the benefit of the persons employed in such textile undertaking the monies relatable to the employees, whose services have become transferred by or under this Act to the National Textile Corporation shall, out of the monies standing, on the appointed day, to the credit of such provident fund, superannuation, welfare or other fund, stand transferred to, and shall vest in, the National Textile Corporation.

    (2) The monies which stand transferred, under sub-section (1), to the National Textile Corporation shall be dealt with by that Corporation in such manner as maybe prescribed.


  6. #16
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - V - Section - 16 - Transfer of employees to a subsidiary textile corporation.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - V
    Section - 16

    Transfer of employees to a subsidiary textile corporation.


    Where any textile undertaking or any part thereof is transferred under this Act to a subsidiary textile corporation, every person referred to in sub-section (1) and sub-section (2) of section 14 shall, on and from the date of such transfer, become an employee of the subsidiary textile corporation, and the provisions of sections 14 and 15 shall apply to such employee as they apply to an employee of the National Textile Corporation as if references in the said sections to the National Textile Corporation were references to the subsidiary textile corporation.

  7. #17
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 17 - Appointment of Commissioners of Payments.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    COMMISSIONERS OF PAYMENTS

    Section - 17.

    Appointment of Commissioners of Payments.


    (1) For the purpose of disbursing the amount payable to the owner of each textile undertaking, the Central Government shall, by notification in the official Gazette,-

    (a) appoint such number of persons as it may think fit to be Commissioners, of Payments; and
    (b) define the local limits within which the Commissioners of Payments shall exercise the powers conferred, and perform the duties imposed, on them by or under this Act.

    (2) The Central Government may appoint such other persons as if may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act, and,different persons may be authorised to exercise different powers.

    (3) Any person authorised by the Commissioner to exercise any powers may exercise those powers in the same manner and with the same effect as if they have been conferred on that person directly by this Act and not by way of authorisation.

    (4) The salaries and allowances of 'the Commissioner and other persons appointed under this section shall be defrayed out of the Consolidated Fund of India.

    (5) References in this Act to the Commissioner shall, where more than one Commissioner has been appointed, 'be construed as references, to the Commissioner in relation to the textile undertaking within the local limits of the jurisdiction specified under clause (b) of sub-section (1).


  8. #18
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 18 - Payment by the Central Government to the Commissioner.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section - 18.

    Payment by the Central Government to the Commissioner.


    (1) The Central Government shall, within fifty days from the specified date, pay in cash to the Commissioner, for payment to the owner of a textile undertaking, an amount equal to the amount specified against the textile undertaking in the First Schedule and shall also. pay to the Commissioner such sums as may be due to the owner of a textile undertaking under sub-sections (1) and (2) of section 9.

    (2) In relation to the textile undertakings, the management of which was taken over by the Central Government under the Textile Undertakings (Taking Over of Management) Act, 1983, (40 of 1983.) there shall be paid by the Central Government [in addition to the amount referred to in sub-section (1)], to the Commissioner, in cash, such amount payable under section 5 of that Act as remains unpaid in relation Lo the period commencing on the date on which such management was taken over by the Central Government and ending on the appointed day.

    (3) In relation to the textile undertakings, the management of which was taken over by the Central Government under the Laxmirattan and Atherton West Cotton Mills (Taking Over or Management) Act, 1976, (98 of 1976.) there shall be paid 'by the Central Government [in addition to the amount referred to in sub-section (1)], to the Commissioner, in cash, such amount payable under section 5, of that Act as remains unpaid in relation to the period commencing on the date on which such management was taken over by the Central Government and ending on the appointed day.

    (4) A deposit account shall be opened by the Central Government, in favour of the Commissioner, in the Public Account of India, and every amount paid under this Act to the Commissioner shall be deposited by him to the credit of the said deposit account in the Public Account of India, and thereafter the said deposit account shall be operated by the Commissioner.

    (5) Separate records shall be maintained by the Commissioner in respect of each textile undertaking in relation to which payments have been made to him under this Act.

    (6) Interest accruing on the amounts standing to the credit of the deposit account referred to in sub-section (4) shall inure to the benefit of the owners of the textile undertakings.


  9. #19
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 19 - Certain powers of the National Textile Corporation.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI
    Section -19

    Certain powers of the National Textile Corporation.


    (1) The National Textile Corporation shall be entitled to receive, up to the specified date, to the exclusion of all other persons, any money due to the textile undertaking, realised after the appointed day, notwithstanding that the realisations pertain to a period prior to the appointed day.

    (2) The National Textile Corporation may make a claim to the Commissioner with regard: to every payment made by the Custodian after the appointed day but before the date on which the Textile Undertakings (Nationalisation) Ordinance, 1995 (Ord. 6 of 1995.) was promulgated for discharging any liability of the owner of textile undertaking in relation to any period prior to the appointed day, and every such claim shall have priority, in accordance with the Priorities attaching, under this Act, to the matter in relation to which such liability has been discharged by the Custodian.

    (3) Save as otherwise provided in this Act, the liabilities in relation to a textile undertaking in respect of any period prior to the appointed day which have not been discharged by the Custodian shall be the liabilities of the owner of that textile undertaking.

  10. #20
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 20 - Claim to be made to the Commissioner.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section -20

    Claim to be made to the Commissioner.

    Every person having aclaim against the owner of a textile undertaking shall prefer such claim before the Commissioner within thirty days from the specified date:
    Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim within the said period of thirty days, he may entertain the claim within a further period of thirty days but not thereafter.

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