The Industries (Development And Regulation) Act, 1951
20. General prohibition of taking over management or control of industrial undertakings
After the commencement of this Act, it shall not be competent for any State Government or a local authority to take over the management or control of any industrial undertaking under any law for the time being in force which authorizes any such Government or local authority so to do.
The Industries (Development And Regulation) Act, 1951
