Act Number: 65

Act Name: The Industries (Development and Regulation) Act, 1951

Year: 1951

Enactment Date: 1951-10-31

Long Title: An Act to provide for the development and regulation of certain industries.

Ministry: Ministry of Commerce and Industry

Department: Department of Promotion of Industry and Internal Trade

Section 15A: Power to investigate into the affairs of a company in liquidation.
    1[15A. Power to investigate into the affairs of a company in liquidation.--(1) Where a company, owning an industrial undertaking is being wound up by or under the supervision of the High Court, and the business of such company is not being continued, the Central Government may, if it is of opinion that it is necessary, in the interests of the general public and, in particular, in the interests of production, supply or distribution of articles or class of articles relatable to the concerned scheduled industry, to investigate into the possibility of running or re-starting the industrial undertaking, make an application to the High Court praying for permission to make, or cause to be made, an investigation into such possibility by such person or body of persons as that Government may appoint for the purpose.
     (2) Where an application is made by the Central Government under sub-section (1), the High Court shall, notwithstanding anything contained in the Companies Act, 1956 (1 of 1956), or in any other law for the time being in force, grant the permission prayed for.]
Notes:
1. Ins. by Act 72 of 1971, s. 3 (w.e.f. 1-11-1971).
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