Act 42 of 1977

The Gresham and Craven of India (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1977

An Act to provide for the acquisition and transfer of the undertakings of Messrs. Gresham and Craven of India (Private) Limited for the purpose of ensuring the continuity of production of goods which are vital to the needs of the Railways and of the industries manufacturing engineering products and for matters connected therewith or incidental thereto.

  • Ministry of Heavy Industries and Public Enterprises
  • Department of Heavy Industry
  • Enacted 1977-12-20
  • 33 sections
SectionTitle
1 Short title and commencement. RepealedRead
2 Definitions. RepealedRead
3 Transfer of and vesting in the Central Government of the undertakings of the Company. RepealedRead
4 General effect of vesting. RepealedRead
5 Central Government or the Braithwaite and Company Limited or the Government company not to be liable for prior liabilities. RepealedRead
6 Vesting of the undertakings of the Company in the Braithwaite and Company Limited. RepealedRead
7 Power of Central Government to direct vesting of the undertakings of the Company in a Government company. RepealedRead
8 Payment of amount. RepealedRead
9 Payment of further amount. RepealedRead
10 Management, etc., of the undertakings of the Company. RepealedRead
11 Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc. RepealedRead
12 Employment of certain employees to continue. RepealedRead
13 Provident fund and other funds. RepealedRead
14 Appointment of Commissioner of Payments. RepealedRead
15 Payment by the Central Government to the Commissioner. RepealedRead
16 Certain powers of the Central Government or Braithwaite and Company Limited or Government company. RepealedRead
17 Claims to be made to the Commissioner. RepealedRead
18 Priority of claims. RepealedRead
19 Examination of claims. RepealedRead
20 Admission or rejection of claims. RepealedRead
21 Disbursement of money by the Commissioner to claimants. RepealedRead
22 Disbursement of amounts to the Company. RepealedRead
23 Undisbursed or unclaimed amount to be deposited to the general revenue account. RepealedRead
24 Act to have overriding effect. RepealedRead
25 Contracts to cease to have effect unless ratified by the Central Government or the Braithwaite and Company Limited or Government company. RepealedRead
26 Protection of action taken in good faith. RepealedRead
27 Delegation of powers. RepealedRead
28 Penalties. RepealedRead
29 Offences by companies. RepealedRead
30 Power to make rules. RepealedRead
31 Power to remove difficulties. RepealedRead
32 Declaration as to the policy of the State. RepealedRead
33 Repeal and saving. RepealedRead
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