Act Number: 39

Act Name: The Textile Undertakings (Nationalisation) Act, 1995

Year: 1995

Enactment Date: 1995-09-08

Long Title: An Act to provide for the acquisition and transfer of the textile undertakings, and the right, title and interest of the owners in respect of the textile undertakings, specified in the First Schedule with a view to augmenting the production and distribution of different varieties of cloth and yarn so as to subserve the interests of the general public and for matters connected therewith or incidental thereto.

Ministry: Ministry of Textiles

Department:

Section 8: Payment of amount to owners of textile undertakings.
    The owner of every textile undertaking shall be given by the Central Government, in cash and in the manner specified in Chapter VI, for the transfer to, and vesting in, it, under sub-section (1) of section 3, of such textile undertaking and the right, title and interest of the owner in relation to such textile undertaking, an amount equal to the amount specified against it in the corresponding entry in column (4) of the First Schedule.
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