Section 11
Payment of amount for acquisition of the undertaking.
The Metal Corporation (Nationalisation and Miscellaneous Provisions) Act, 1976
About this Act
An Act to provide for the taking over of the management of the undertaking of the Metal Corporation, after such undertaking is deemed to have been transferred to, and re-vested in, the said Corporation, and for the subsequent acquisition of the undertaking of the Metal Corporation for the purpose of enabling the Central Government, in the public interest, to exploit to the fullest extent possible, the zinc and lead deposits in and around Zawar area in the State of Rajasthan and to utilise those minerals in such manner as to subserve the common good, and for matters connected therewith or incidental thereto.
For the transfer to, and vesting in, the
Central Government, under section 7, of the right, title and interest of the Metal Corporation in relation to
its undertaking, there shall be given, in cash, by the Central Government to the Metal Corporation, an
amount of rupees one crore and ninety-eight lakhs.