Section 40:
Compensation for acquisition of road transport undertakings.
Whenever a Corporation
acquires under this Act the whole or any part of any undertaking, there shall be paid by the Corporation
compensation the amount of which shall be determined in the manner and in accordance with the
procedure hereinafter set out, that is to say,--
(a) where the amount of compensation can be fixed by agreement, it shall be paid in accordance
with such agreement;
(b) where no such agreement can be reached, the amount shall be determined by an arbitral
Tribunal consisting of one nominee of the Corporation, one nominee of the person to be
compensated, and a Chairman to be nominated by the Chief Justice of the 1[High Court of Delhi];
(c) an appeal shall 2[lie to the High Court of Delhi] against the decision of the Tribunal and the
3[order of that High Court] on such appeal shall be final.
Notes:
1. Subs. by s. 7(a) and the First Schedule, ibid@i/@., for "High Court exercising jurisdiction in relation to the State concerned"
(w.e.f. 3-9-1971).
2. Subs. by s. 7(a) and the First Schedule, ibid., for "lie to the High Court" (w.e.f. 3-9-1971).
3. Subs. by s. 7(a) and the First Schedule, ibid., for "order of the High Court" (w.e.f. 3-9-1971).