Act Number: 41

Act Name: The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act, 1977

Year: 1977

Enactment Date: 1977-12-17

Long Title: An Act to provide for, in the public interest, the acquisition and transfer of the right, title and interest of the undertakings of Messrs. Smith, Stanistreet and Company Limited, Calcutta and for matters connected therewith or incidental thereto.

Ministry: Ministry of Chemicals and Fertilizers

Department: Department of Pharmaceuticals

Section 7: 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 given by the Central Government to the Company, in cash, and in the manner specified in Chapter VI, and amount of three crores and seventy-four thousand rupees.
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