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The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act,1972

The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act,1972

 

CONTENTS

 

Sections

Particulars

 
  Preamble
 
1 Short title
2 Definitions
3 Under taking of the old company to vest in the Central Government
4 General effect of meeting
5 Duty to deliver possession of property acquired and documents relating thereto
6 Duty to furnish particulars
7 Transfer of employees of the old company
8 Payment of amount
9 Formation and registration of a new company
10 Management of the old company
11 Custodian to be public servant
12 Vacation of office by directors, etc., of the old company
13 Constitution of a Tribunal
14 Tribunal to call upon persons to make claims
15 Determination of genuine shares
16 No compensation for cancellation of spurious shares
17 Power of Tribunal to entertain and dispose of claims for reimbursement
18 Suits and legal proceedings, not to be commenced or proceeded
19 Decision of the Tribunal to be final
20 Custodian to reconstruct register of members of the old company
21 Custodian to issue fresh share certificates
22 No annual general meeting of the old company to be held before the reconstruction of the register of members
23 Custodian to file accounts until reconstruction of the register of members of the old company
24 Penalties
25 Offences by companies
26 Offences to be triable by a Magistrate of the first class and not to be compoundable
27 Protection of action taken in good faith
28 Contracts, etc., in bad faith may be cancelled or varied
29 Power to terminate contract of employment
30 Power to remove difficulty
31 Power to make rules

 

Indian Laws – Bare Acts

 

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