Section 6
Vesting of the Aluminium undertaking in Bharat Aluminium Company. Repealed
About this Act
An Act to provide for the acquisition and transfer of the right, title and interest of the Aluminium Corporation of India Limited in relation to its undertaking as Jaykay Nagar, near Asansol (West Bengal) for the purpose of ensuring the continuity of production of aluminium and aluminium fabricated products which are essential to the needs of the community and thereby to give effect to the policy of the State towards securing the principles specified in clause (b) of Article 39 of the Constitution.
(1) Notwithstanding
anything contained in sections 3 and 4, the Central Government shall, as soon as may be, after
the appointed day, direct, by notification, that the Aluminium undertaking and the right, title and interest
of the Company in relation to that undertaking which have vested in the Central Government under
section 3, shall, instead of continuing to vest in the Central Government, vest in the Bharat Aluminium
Company either on the date of notification or on such earlier or later date (not being a date earlier than the
appointed day) as may be specified in the notification.
(2) Where the right, title and interest of the Company in relation to the Aluminium undertaking vest in the Bharat Aluminium Company under sub-section (1), the Bharat Aluminium Company shall, on and from the date of such vesting, be deemed to have become the owner in relation to the Aluminium undertaking, and all the rights and liabilities of the Central Government in relation to the Aluminium undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the Bharat Aluminium Company.
(2) Where the right, title and interest of the Company in relation to the Aluminium undertaking vest in the Bharat Aluminium Company under sub-section (1), the Bharat Aluminium Company shall, on and from the date of such vesting, be deemed to have become the owner in relation to the Aluminium undertaking, and all the rights and liabilities of the Central Government in relation to the Aluminium undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of the Bharat Aluminium Company.