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The Maharashtra Textile Companies (Acquisition and Transfer of Undertakings) Act, 1982.

Maharashtra

An Act to provide for the acquisition of undertakings of two textile companies for the purpose of ensuring continued and increased production of goods essential to the needs of the country and for matters connected therewith or incidental thereto.

Act number
33 of 1982
Ministry
Govt of Maharashtra
Department
Co-operation, Marketing and Textiles Department
Enacted
14 Oct 1982

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

15 sections

  1. Section 1Short title and commencement.
  2. Section 2Definitions.
  3. Section 3Acquisition and transfer of rights of Textile Companies in respect of their undertakings.
  4. Section 4General effect of vesting.
  5. Section 5Duty to deliver possession of undertakings and documents relating thereto.
  6. Section 6Duty to furnish particulars.
  7. Section 7Shares to be issued by State Textile Corporation for the value of assets transferred to it by State Government.
  8. Section 8Payment of amount for acquisition.
  9. Section 9Management and administration of undertakings.
  10. Section 10Employment of certain employees of companies to continue under Corporation.
  11. Section 11Penalties.
  12. Section 12Offences by companies.
  13. Section 13Protection of action taken in good faith.
  14. Section 14Power to remove difficulties.
  15. Section 15Repeal and saving.