Section 3
Payment of consideration for disinvestment in the company.
The Tyre Corporation of India Limited (Disinvestment of Ownership) Act, 2007
About this Act
An Act to provide for disinvestment of Government's equity in the Tyre Corporation of India Limited and for matters connected therewith or incidental thereto.
(1) For the transfer to, and
vesting in, any person, the shares of the company, there shall be given to the Central Government by such
person or in case such person is a company, by such company, such consideration, having regard to the
optimum valuation of land, assets and liabilities of the company in accordance with a valuation method as
specified by the Central Government.
(2) The manner of payment of consideration for transfer of shares of the company to the transferee shall be such as may be agreed upon between the transferor, the company and the transferee, the person or the company, as the case may be.
(2) The manner of payment of consideration for transfer of shares of the company to the transferee shall be such as may be agreed upon between the transferor, the company and the transferee, the person or the company, as the case may be.