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Section 27 – The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act,1986

The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act,1986

Section 27. Penalties

Any person who,-

(a) Having in his possession, custody or control any property forming part of part any of the textile undertaking wrongfully withholds such property from the National Textile Corporation; or

(b) Wrongfully obtains possession of, or retains any property forming part of, any of the textile undertaking; or

(c) Wilfully withholds or fails to furnish to the National Textile Corporation or any person or body of persons specified by that Corporation, any document or inventory relating to any of textile undertaking which may be in his possession, custody ;or control; or

(d) Wilfully fails to deliver to the National Textile Corporation any inventory or property and assets forming part of any of the textile undertaking; or

(e) Fails to deliver to the National Textile Corporation or any person or body of persons specified by that Corporation, any assets, books of account, registers or other documents in his possession, custody or control relating to any of the textile undertakings; or

(f) Wrongfully removes or destroys any property forming part of any of the textile undertakings or prefers any claim under this Act which he knows or has reason to believe to be false or grossly inaccurate,

Shall be punishable with imprisonment for a term which may extend to two year and with fine which may extend to ten thousand rupees

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The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act,1986

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