Section 7
Payment of amount. Repealed
The Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act, 1983
About this Act
An Act to provide for the acquisition and transfer of the undertakings of the Transformer and Switchgear Limited with a view to securing the better utilisation of the available infrastructure thereof and to modernise and augment the production of transformers, switchgears and other allied electrical equipments by the said undertakings so as to subserve the interests of the general public be ensuring the continued supply of the aforesaid articles which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
For the transfer to, and vesting in, the Central Government, under
section 3, of the undertakings of the Company and the right, title and interest of the Company in
relation to its undertakings, there shall be paid by the Central Government to the Company, in
cash, and in the manner specified in Chapter VI, an amount of rupees seventy-eight lakhs and
twenty-six thousand.