Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972

The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972

रिचर्डसन एंड क्रूडास लिमिटेड (उपक्रम का अर्जन और अंतरण), अधिनियम 1972

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Act ID:	197278
Act Number:	78
Enactment Date:	1972-12-30
Act Year:	1972
Short Title:	The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972
Hindi Title:	रिचर्डसन एंड क्रूडास लिमिटेड (उपक्रम का अर्जन और अंतरण), अधिनियम 1972
Long Title:	An Act to provide for the acquisition and transfer of the undertaking of the Richardson and Cruddas Limited, for the reconstruction of the register of its members and for matters connected therewith or incidental thereto.
Ministry:	Ministry of Heavy Industries and Public Enterprises
Department:	Department of Heavy Industry
Enforcement Date:	31-03-1973
Notification:	31st March, 1973, vide notification No. G.S.R. 165(E), dated 12th March, 1973, see Gazette of India, Extraordinary, Part II, sec. 3(i).

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Show all section The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972

PART I

ACQUISITION AND TRANSFER OF THE UNDERTAKING OF RICHARDSON AND CRUDDAS LIMITED

PART II

RECTIFICATION OF THE REGISTER OF MEMBERS OF THE OLD COMPANY

PART III

OFFENCES AND THEIR TRIAL

PART IV

MISCELLANEOUS


Section 1. Short title.
Section 2. Definitions.
Section 3. Undertaking of the old company to vest in the Central Government.
Section 4. General effect of meeting.
Section 5. Duty to deliver possession of property acquired and documents relating thereto.
Section 6. Duty to furnish particulars.
Section 7. Transfer of employees of the old company.
Section 8. Payment of amount.
Section 9. Formation and registration of a new company.
Section 10. Management of the old company.
Section 11. Custodian to be public servant.
Section 12. Vacation of office by directors, etc., of the old company.
Section 13. Constitution of a Tribunal.
Section 14. Tribunal to call upon persons to make claims.
Section 15. Determination of genuine shares.
Section 16. No compensation for cancellation of spurious shares.
Section 17. Power of Tribunal to entertain and dispose of claims for reimbursement.
Section 18. Suits and legal proceedings, not to be commenced or proceeded with.
Section 19. Decision of the Tribunal to be final.
Section 20. Custodian to reconstruct register of members of the old company.
Section 21. Custodian to issue fresh share certificates.
Section 22. No annual general meeting of the old company to be held before the reconstruction of the register of members.
Section 23. Custodian to file accounts until reconstruction of the register of members of the old company.
Section 24. Penalties.
Section 25. Offences by companies.
Section 26. Offences to be triable by a Magistrate of the first class and not to be compoundable.
Section 27. Protection of action taken in good faith.
Section 28. Contracts, etc., in bad faith may be cancelled or varied.
Section 29. Power to terminate contract of employment.
Section 30. Power to remove difficulty.
Section 31. Power to make rules.