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

  1. #31
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 31 - Penalties

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section -31

    Penalties. Any person who,-


    (a) having in his possession, custody or control any property forming part of a textile undertaking, wrongfully withholds such property from the Central Government or the National Textile Corporation, or any person authorised by that Government or Corporation, as the case may be, in this behalf, or

    (b)wrongfully obtains possession of, or retains, any property forming part of the textile undertaking or wilfully withholds or fails to furnish to the Central Government, the National Textile Corporation or any person specified by that Government, or Corporation, as the case may be, any document relating to such textile undertaking which may be in his possession, custody or control or fails to deliver to the National Textile Corporation or any person specified by that Corporation any assets, books of account, registers or other documents, in his custody relating to the textile undertaking, or

    (c) wrongfully removes or destroys any property forming part of any textile undertaking or prefers any claim under this Act which he knows or has reasonable cause to believe to be false or grossly inaccurate,shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupees, or with both.

  2. #32
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 32 - Offences by companies.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section - 32

    Offences by companies.


    (1) Where an offence under this Act has been committed by a company, every person who at the time the offence was committed was in charge of, and was responsible to, the company for, the conduct of the business of the company as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly:
    Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he proves that the offence was committed without his knowledge or that he had exercised all due diligence to prevent the commission of such offence.

    (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and-it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.

    Explanation.-For the purposes of this section,-

    (a) "company" means any body corporate and includes a firm or other association of individuals; and
    (b) "director", in relation to a firm, means a partner in the firm.

  3. #33
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section -33 - Protection of action taken in good faith.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section -33

    Protection of action taken in good faith.


    No suit, prosecution or other legal proceeding shall lie against the Central Government or any officer of that Government or the Custodian or the National Textile Corporation or any subsidiary textile corporation or any officer or other person authorised by either of such Corporations for anything which is in good, faith done or intended to be done under this Act.

  4. #34
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    Thumbs up he Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 34 - Textile companies not to be wound up by the Court.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section - 34

    Textile companies not to be wound up by the Court.


    No proceeding for the winding up of a textile company, the right, title and interest in relation to the textile undertaking owned by which have vested in the National Textile Corporation under this Act or for the appointment of a receiver in respect of the business of the textile undertaking shall lie or be proceeded with in any court except with consent of the Central Government.

  5. #35
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section -35 - Delegation of powers.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section - 35

    Delegation of powers.


    (1) The Central Government may, by notification, direct that all or any of the powers exercisable by it
    under this Act, other than the power under section 36, may also be exercised by any person or persons as may be specified in the notification.

    (2) Whenever any delegation of power is made under sub-section (1), the person to whom such power has been delegated shall act under the direction, control and supervision of the Central Government.

  6. #36
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 36 - Power to make rules.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section -36

    Power to make rules.


    (1) The Central Government may, by notification. make rules to carry out the provisions of this Act.
    (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-

    (a) the time within which and the manner in which an intimation referred to in subsection (4) of section 4 shall be given;
    (b) the manner in which monies in any provident or other fund referred to in section 15 shall be dealt with;
    (c)any other matter which is required to be, or may be, prescribed.

    (3) Every rule made by the Central Government under this Act shall be laid, as soon as may be after it is made before each House of Parliament, while it is in session, for a total period of thirty days which may be comprised in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid, both Houses agree in making any modification in the rule or both, Houses agree that the rule should not be made, the rule shall thereafter have effect only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shall be without prejudice to the validity of anything previously done tinder that rule.

  7. #37
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section - 37 - Power to remove difficulties.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section - 37

    Power to remove difficulties.


    (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order not inconsistent with the provisions of this Act, remove the difficulty:

    Provided that no such order shall be made after the expiry of a period of two years from the date on which Textile Undertakings (Nationalisation) Ordinance, 1995 (Ord. 6 of 1995.) was promulgated.

    (2) Every order made under this section shall, as soon as may be after it is made, be laid beore each House of Parliament.

  8. #38
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - CHAPTER - VII - Section -38 - Repeal and saving.

    The Textiles Undertakings (Nationalisation) Act, 1995

    CHAPTER - VII

    Section -38

    Repeal and saving.


    (1) The Textile Undertakings (Nationalisation) Ordinance, 1995, (Ord. 6 of 1995.) is hereby repealed.

    (2) Notwithstanding such repeal, anything done 'Or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions, of this Act,

  9. #39
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - THE FIRST SCHEDULE

    The Textiles Undertakings (Nationalisation) Act, 1995

    THE FIRST SCHEDULE

    [See sections 2(1) and (m), 8 and 18(1)]


    ---------------------------------------------------------------------
    Sl. Name of the textile undertaking
    No.

    ---------------------------------------------------------------------
    (1) (2)
    ---------------------------------------------------------------------
    1. Elphinstone Spinning and Weaving Mills, Elphinstone Road, Bombay.
    2. Finlay Mills, 10/11, Dr. S.S. Rao Road Bombay.
    3. Gold Mohur Mills, Dadasaheb Phalke Road, Dadar, Bombay.
    4. Jam Manufacturing Mills, Lalbaug, Parel, Bombay.
    5. Kohinoor Mills (No. 1), Naigaum Cross Road, Dadar, Bombay.
    6. Kohinoor Mills (No. 2), Naigaum Cross Road, Dadar, Bombay.
    7. Kohinoor Mills (No. 3), Lady Jamshedji Road, Dadar, Bombay.
    8. New City of Bombay Manufacturing Mills, 63, Tukaram B. Kadam Marg, Bombay.
    9. Podar Mills, N.M, Joshi Marg, Bombay.
    10. Podar Mills (Process House), Ganpat Rao Kadam Marg, Bombay.
    11. Shree Madhusudan Mills, Pandurang Budhkar Marg, Bombay.
    12. Shree Sitaram Mills, N.M. Joshi Marg, Bombay.
    13. Tata Mills, Dr. Ambedkar Road, Dadar, Bombay.
    14. Laxmirattan Cotton Mills, Kalpi Road Kanpur.
    15. Atherton West Cotton Mills, Anwar Ganj, Kanpur.

    ---------------------------------------------------------------------
    Name of the owner
    ---------------------------------------------------------------------
    (3)
    ---------
    ------------------------------------------------------------
    The Elphinstone Spinning and Weaving Mills Co. Ltd., Kamani Chambers, 32, Ramji Bhai Kamani Marg, Bombay-38.
    The Finlay Mills Ltd., Chartered Bank Building Fort, Bombay-23.
    The Gold Mohur Mills Ltd., Chartered Bank Building, Fort. Bombay-23.
    The Jam Manufacturing Co. Ltd., Lalbaug, Parel. Bombay-12.
    The Kohinoor Mills Co. Ltd., Killick House, Charanjit Rai Marg (Home Street), Fort, Bombay-1.
    The New City of Bombay Manufacturing Co. Ltd., 63, Tukaram Baisaji Kadam Path, Bombay-33.
    The Podar Mills Ltd., Podar Chambers, Syed Abdulla Brelvi Road, Fort, Bombay-1.
    The Podar Mills Ltd., Podar Chambers. Syed Abdulla Brelvi Road, Fort, Bombay-1.
    Shree Madhusudan Mills Ltd., 31, Chowringhee Road, Calcutta-16.
    Shree Sitaram Mills Ltd., N.M. Joshi Marg, Bombay-11.
    The Tata Mills Ltd., Bombay House, 24 Homi Mody Street, Fort, Bombay-23.
    Laxmirattan Cotton Mills Company Limited, Behari Niwas, Chatai Mahal,Kanpur.
    Atherton West and Company Limited, Anwarganj, Kanpur.

    ---------------------------------------------------------------------
    Amount
    (in rupees)

    ---------------------------------------------------------------------
    4,56,98,000
    8,14,87,000
    5,45,55,000
    2,79,62,000
    2,33,38,000
    4,23,57,000
    7,46,30,000
    1,91,94,000
    2,70,85,000
    1,95,20,000
    9,33,47,000
    2,22,39,000
    1,10,95,000


  10. #40
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    Thumbs up The Textiles Undertakings (Nationalisation) Act, 1995 - THE SECOND SCHEDULE

    The Textiles Undertakings (Nationalisation) Act, 1995

    THE SECOND SCHEDULE

    (See sections 21, 22, 23 and 27)

    Order of priorities for discharge of liabilities in respect of a textile undertaking

    PART A


    Post-take-over management period
    Category I.-


    (a) Loans advanced by a Bank.
    (b) Loans advanced by an institution other than a Bank.
    (c) Any other loan.
    (d) Any credit availed of for purpose of trade or manufacturing operations.

    Category II.-

    (a) Revenue, taxes, cesses, rates or any other dues to the Central Government or a State Government.
    (b) Any other dues.


    PART B

    Pre-take-over management period
    Category III.


    Arrears in relation to provident fund, salaries and wages, and other amounts, due to an employee.

    Category IV.-

    Secured loans.

    Category V.-

    Revenues, taxes, cesses, rates or any other dues to the Central Government, a State Government, a local authority or a State Electricity Board.

    Category VI.-

    (a) Any credit availed of for purpose of trade or manufacturing operations.
    (b) Any other dues.


    K. L. MOHANPURIA,
    Secy. to the Govt. of India.


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