Section 47:
Act to have overriding effect.
The provisions of this Act shall have effect notwithstanding
anything inconsistent therewith contained in the Companies Act, the Industrial Disputes
Act, 1947 (14 of 1947) or any other law for the time being in force or in any instrument having effect by
virtue of any law other than this Act, or in any decree or order of any court, tribunal or other authority.