Section 25
Contracts in relation to the Aluminium undertaking to cease to have effect unless ratified by the Central Government or Bharat Aluminium Company. Repealed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.
Every contract entered into by the
Company in relation to the Aluminium undertaking for any service, sale or supply, and in force
immediately before the appointed day, shall, on and from the expiry of one hundred and eighty days from
such day, cease to have effect unless such contract is, before the expiry of that period, ratified, in writing,
by the Central Government or the Bharat Aluminium Company and, in ratifying such contract, the Central
Government or the Bharat Aluminium Company may make such alterations or modifications therein as it
may think fit:
Provided that the Central Government or the Bharat Aluminium Company shall not omit to ratify a contract, and shall not make any alteration or modification in a contract,--
(a) unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the Central Government or the Bharat Aluminium Company; and
(b) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.
Provided that the Central Government or the Bharat Aluminium Company shall not omit to ratify a contract, and shall not make any alteration or modification in a contract,--
(a) unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the Central Government or the Bharat Aluminium Company; and
(b) except after giving the parties to the contract a reasonable opportunity of being heard and except after recording in writing its reasons for refusal to ratify the contract or for making any alteration or modification therein.