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

  1. #21
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section -21 - Priority of claims.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section -21

    Priority of claims.


    The claims arising out of the matters specified in the Second Schedule shall have priorities in accordance with the following principles, namely:-

    (a) category I shall have precedence over all other categories and category II shall have precedence over category III and so on;

    (b) the claims specified in each of the categories, except category IV, shall rank equally and be paid in full, but if the amount is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly;.

    (c) the liabilities specified in category IV shall be discharged, subject to the priorities specified in this section, in accordance with the terms of the secured loans and the priority, inter se, of such loans; and
    (d) the question of payment of a liability with regard to a matter specified in a lower category shall arise only if a surplus is left after meeting all the liabilities specified in the immediately higher category.

  2. #22
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 22 - Examination of claims.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section -22

    Examination of claims.


    (1) On receipt of the claims under section 20, the Commissioner shall arrange the claims in the order of priority specified in the Second Schedule and examine the same in accordance with the said order.

    (2) If, on examination of the claims, the Commissioner is of the opinion that the amount paid to him under this Act is not sufficient to meet the liabilities specified in any lower category, the shall not be required to examine the liabilities in respect of such lower category.

  3. #23
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 23 - Admission or rejection of claims.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section -23

    Admission or rejection of claims.


    (1) After examining the claims with reference to the priority set out in the Second Schedule, the Commissioner shall fix a certain date on or before which every claimant shall file the proof of his claim or be excluded from the benefit of the disbursement made by the Commissioner.

    (2) Not less than fourteen days' notice of the date so fixed shall be given by advertisement in one issue of the daily newspaper in the English language and one issue of the daily newspaper in the regional language as the Commissioner may consider suitable, and every' such notice shall call upon the claimant to file the proof of his claim with the Commissioner within the time specified in the advertisement.

    (3) Every claimant who fails to file the proof of his claim within the time specified by the Commissioner shall be excluded from the disbursements made by the Commissioner.

    (4) The Commissioner shall, after such investigation as may, in his opinion, be necessary and after giving the owner of the textile undertaking an opportunity of, refuting the claim and after giving the claimants a reasonable opportunity of being heard, in writing, admit or reject the claim in whole or in part.

    (5) The Commissioner shall have the power to regulate his own procedure in all matters arising out of the discharge of his functions including the place or places at which be may hold his sittings and shall, for the purpose of making any investigation under this Act, have the same powers as are vested in a civil court tinder the Code of Civil Procedure, 1908, (5 of 1908.) while trying a suit, in respect of the following matters, namely:-

    (a) the summoning and enforcing the attendance of any witness and examining him on oath;
    (b) the discovery and production of any document or other material object producible as evidence;
    (c) the reception of evidence on affidavits; and
    (d) the issuing of any commission for the examination of witnesses

    (6) Any investigation before the Commissioner shall be deemed to be a judicial proceeding within the meaning of sections 193 and 228 of the Indian Penal Code (45 of 1860.) and the Commissioner shall be deemed to be a civil court for the purposes of section 195 and Chapter XXVI of the Code of Criminal Procedure, 1973. (2 of 1974.)

    (7) A claimant who is dissatisfied with the decision of the Commissioner may prefer an appeal against the decision to the principal civil court of original jurisdiction within the local limits of whose jurisdiction the textile undertaking is situated: Provided that where a person who is a Judge of a High Court is appointed to be the Commissioner, such appeal shall lie to the High Court for the State in which the textile undertaking is situated, and such appeal shall be heard and disposed of by not less than two Judges of that High Court

  4. #24
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 24 - Disbursement of money by the Commissioner to claimants.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI
    Section -24

    Disbursement of money by the Commissioner to claimants.


    After admitting a claim under this Act, the amount due in respect of such claim shall be credited by the Commissioner to the relevant fund or be paid to the person or persons to whom such sums are due and on such credit or payment the liability of the owner in respect of such claim shall stand discharged.

  5. #25
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VI - Section - 25 - Disbursement of amount to the owners.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section -25

    Disbursement of amount to the owners.


    (1) If, out of the monies paid to him in relation to a textile undertaking there is a balance left after meeting the liabilities as specified in the Second Schedule, the Commissioner shall disburse such balance to the owner of such textile undertaking.

    (2) Before making any payment to the owner of any textile under- taking under sub-section (1), the Commissioner shall satisfy himself as to the right of such person to receive the whole or any part of such amount, and in the event of there being a doubt or dispute as to the right of the person to receive the whole or any part of the amount, referred to in sections 8 and 9, the Commissioner shall refer the matter to the court and make the disbursement accordance with the decision of that court.

    (3) For the removal of doubts, it is hereby declared that the entries in column (3) of the First Schedule shall not be deemed to be conclusive as to the right, title and interest of any person in relation to any textile undertaking specified in the corresponding entries in column (2) of the said Schedule and evidence shall be admissible to establish the right, title and interest of any person in relation to such textile undertaking.

    (4) Where any machinery, equipment or other property in a textile undertaking has vested in the National Textile Corporation, but such machinery, equipment or other property does not belong to the owner of such textile undertaking, the amount specified in column (4) of the First Schedule against such textile undertaking shall, on a reference made to it by the Commissioner, be apportioned by the court between the owner of such textile undertaking and the owner of such machinery, equipment or other property having due regard to the value of such machinery, equipment or other property on the appointed day.

    Explanation.-In this section, "court", in relation to a a textile undertaking, means the principal civil court of original jurisdiction within the local limits of whose jurisdiction the textile undertaking is situated.

  6. #26
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER -VI - Section -26 - Undisbursed amounts to be deposited to the general reserve account

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VI

    Section -26

    Undisbursed or unclaimed amounts to be deposited to the general reserve account.


    Any money paid to the Commissioner which remains undisbursed or unclaimed for a period of three years from the last day on which the disbursement was made, shall be transferred by the Commissioner to the general revenue account of the Central Government but a claim to any money so transferred may be preferred to the Central Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, the order if any, for payment of the claim being treated as an order for the refund of revenue.

  7. #27
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 27 - Assumption of liability

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    MISCELLANEOUS

    Section - 27

    Assumption of liability.

    (1) Where any liability of the owner of a textile undertaking arising out of any item specified in category I of the Second Schedule is not discharged fully by the Commissioner out of the amount paid to him under this Act, the Commissioner shall intimate in writing to the Central Government the extent of the liability which remains undischarged, and that liability shall be assumed by the Central Government.

    (2) The Central Government may, by order, direct the National Textile Corporation to take over any liability assumed by that Government under sub-section (1), and on receipt of such direction, it shall be the duty of the National Textile Corporation to discharge such liability.


  8. #28
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section -28 - Management to continue to vest in the Custodian

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section -28.

    Management to continue to vest in the Custodian until alternative arrangements are made.


    Notwithstanding the vesting, under this Act, of a textile undertaking in the National Textile Corporation,-

    (a) the Custodian who has been managing the affairs of such undertaking before the date on which the Textile Undertakings (Nationalisation) Ordinance, 1995 (Ord. 6 of 1995.) was promulgated shall, until alternative arrangements have been made by the National Textile Corporation, continue to manage the affairs of such undertakings as if the Custodian had been authorised by the National Textile Corporation to manage the affairs of such undertaking; and

    (b) the Custodian or any person authorised by him for this purpose shall until alternative arrangements have been made by the National Textile Corporation, continue to be authorised to operate, in relation to the textile undertaking, any account of such undertaking in a bank as if such Custodian or the person authorised by the Custodian had been authorised by the National Textile Corporation to operate such account.


  9. #29
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 29 - Act to override all other enactments.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII
    Section - 29

    Act to override all other enactments.

    The provisions of this Act, shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time being in force or in any instrument having effect by virtue of any law other than this Act or in any decree or order of any court, tribunal or authority.

  10. #30
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section -30

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section - 30

    Contracts to cease to have effect unless ratified by the National Textile Corporation.


    (1) Every contract entered into by the owner or occupier of any textile undertaking for any service, sale or supply and in force immediately before the appointed day shall, on and from the expiry of one hundred and twenty days from the date on which the Textile Undertakings (Nationalisation) Ordinance, 1995 (Ord. 6 of 1995.) was promulgated, cease to have effect unless such contract is before the expiry of that period, ratified, in writing, by the National Textile Corporation and in ratifying such contract the National Textile Corporation may make such alterations or modifications therein as it may think fit:
    Provided that the National Textile Corporation shall not omit to ratify a contract, and shall not make may alteration or modification in a contract, unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the textile undertaking.

    (2) The National Textile Corporation shall not omit to ratify a contract or make any alteration or modification therein except after giving to the parties to the contract a reasonable opportunity of being hear and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.

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