Section 7
Payment of amount.
The Jute Companies (Nationalisation) Act, 1980
About this Act
An Act to provide for the acquisition and transfer of the undertakings of the jute companies, specified in the First Schedule with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of articles made of jute, which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
Every jute company shall be given by the Central Government, for the
transfer to and vesting in that Government under section 3 of the undertakings of that company and the
right, title and interest of that company in relation to its undertakings, in cash and in the manner specified
in Chapter VI, such amount as is specified against the name of that company in the First Schedule.