Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 27 – The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

Section 27. Penalties

Any person who, —

(a) Having in his possession, custody or control any property forming part of the undertakings of the Company, wrongfully withholds such property from the Central Government or the Government company or any person or body of persons authorised by that Government or Government company; or

(b) Wrongfully obtains possession of, or retains, any property forming part of the undertakings of the Company or wilfully withholds or fails to furnish to the Central Government, or the Government company or any person or body of persons authorised by that Government or Government company any document relating to such undertakings which may be in his possession, custody or control or fails to deliver to the Central Government or the Government company or any person or body of persons authorised by that Government or Government company, any assets, books of account, registers or other documents in his possession, custody, or control relating to the undertakings of the Company; or

(c) Wrongfully removes or destroys any property forming part of the undertakings of the Company or prefers any claim under this Act which he known or has reasonable cause to believe to be false or grossly inaccurate,

Shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupees, or with both.

Previous | Next

The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2021 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation