Section 34
Textile companies not to be wound up by the court.
The Textile Undertakings (Nationalisation) Act, 1995
About this Act
An Act to provide for the acquisition and transfer of the textile undertakings, and the right, title and interest of the owners in respect of the textile undertakings, specified in the First Schedule with a view to augmenting the production and distribution of different varieties of cloth and yarn so as to subserve the interests of the general public and for matters connected therewith or incidental thereto.
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.