Section 7
Payment of amounts. Repealed
About this Act
An Act to provide for the acquisition and transfer of the right, title and interest of the Aluminium Corporation of India Limited in relation to its undertaking as Jaykay Nagar, near Asansol (West Bengal) for the purpose of ensuring the continuity of production of aluminium and aluminium fabricated products which are essential to the needs of the community and thereby to give effect to the policy of the State towards securing the principles specified in clause (b) of Article 39 of the Constitution.
For the transfer to, and vesting in, the Central Government, under section
3, of the Aluminium undertaking and the right, title and interest of the Company in relation to that
undertaking, there shall be given by the Central Government to the Company, in cash, and in the manner
specified in Chapter VI, an amount of rupees four crores and twenty-four lakhs.