Act Number: 30

Act Name: The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986

Year: 1986

Enactment Date: 1986-05-30

Long Title: An Act to provide for the acquisition and transfer of certain textile undertakings of the Swadeshi Cotton Mills Company Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of different varieties of cloth and yarn and thereby to give effect to the policy of the State towards securing the principles specified in clauses (b) and (c) of article 39 of the Constitution and for matters connected therewith or incidental thereto.

Ministry: Ministry of Textiles

Department:

Section 2: Definitions.
    In this Act, unless the context otherwise requires,--
         (a) "appointed day" means the 1st day of April, 1985;
         (b) "Commissioner" means the Commissioner of Payments appointed under section 15;
         (c) "Company" means the Swadeshi Cotton Mills Company Limited, Kanpur, a company within the meaning of the Companies Act, 1956 (1 of 1956), and having its registered office at Swadeshi House, Civil Lines, Kanpur, in the State of Uttar Pradesh;
         (d) "date of taking over" means the date on which the management of the textile undertakings of the Company was taken over by the Central Government by virtue of the order of the Government of India in the late Ministry of Industrial Development No. S.O. 265(E), dated the 13th April, 1978, made under clause (a) of sub-section (1) of section 18-AA of the Industries (Development and Regulation) Act, 1951(65 of 1951);
         (e) "National Textile Corporation" means the National Textile Corporation Limited, a company formed and registered under the Companies Act, 1956 (1 of 1956);
         (f) "notification" means a notification published in the Official Gazette;
         (g) "Ordinance" means the Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Ordinance, 1986 (5 of 1986);
         (h) "prescribed" means prescribed by rules made under this Act;
         (i) "specified date," in relation to any provision of this Act, means such date as the Central Government may, by notification in the Official Gazette and in the newspapers circulating in the locality in which the registered office of the Company is situated, specify for the purposes of that provision and different dates may be specified for different provisions of this Act;
     (j) Subsidiary Textile Corporation means a textile corporation formed by the National Textile Corporation as its subsidiary;
         (k) "textile undertakings" means the six textile undertakings of the Company specified below:--
             (i) the Swadeshi Cotton Mills, Kanpur;
             (ii) the Swadeshi Cotton Mills, Pondicherry;
             (iii) the Swadeshi Cotton Mills, Naini;
             (iv) the Swadeshi Cotton Mills, Maunath Bhanjan;
             (v) the Udaipur Cotton Mills, Udaipur;
             (vi) the Rae Bareli Textile Mills, Rae Bareli;
         (l) words and expressions used herein and not defined but defined in the Companies Act, 1956 (1 of 1956), shall have the meanings respectively assigned to them in that Act.
Previous Section Next Section
Scroll to Top