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55/1984 - The Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984 ▶

Act Number: 55

Act Name: The Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984

Year: 1984

Enactment Date: 1984-08-23

Long Title: An Act to provide for the acquisition and transfer of the undertakings of the Hooghly Docking and Engineering Company Limited with a view to securing the better utilisation of the available infrastructure thereof, to modernise and increase the capacity for ship building and ship repairing so as to reduce the import of ships, vessels and craft and to augment the production of grey iron, non-ferrous and alloy castings by the said undertakings so as to subserve the interests of the general public by ensuring the continued supply of the said articles which are essential to the needs of the economy of the country, and for matters connected therewith and incidental thereto.

Ministry: Ministry of Shipping

Department:

Section 8: Payment of amount.

For the transfer to, and vesting in, the Central Government, under section 3, of the undertakings of the Company and the right, title and interest of the Company in relation to its undertakings, there shall be paid by the Central Government to the Company, in cash and in the manner specified in Chapter VI, an amount of rupees six hundred and fifty lakhs.

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