India Belting And Cotton Mills Limited ( Acquisition And Transfer Of Undertakings ) Act, 1992

Assent of the President of India was published in the Calcutta Gazette, Extraordinary, dated the 11th October, 1993. An Act to provide for the acquisition and transfer, in the public interest, of the undertakings of the. India Belting and Cotton Mills Limited, and for matters connected therewith or incidental thereto. Whereas the India Belting and Cotton Mills Limited had been engaged in the manufacture of hair belting, cotton conveyors and hose pipes; And Whereas the management of the undertakings of the India Belting and Cotton Mills Limited had been conducted in a manner highly detrimental to the public interest; And Whereas the management of the undertakings of the India Belting and Cotton Mills Limited was taken over by the Central Government under section 18AA of the Industries (Development and Regulation) Act, 1951, on and from the 6th day of September, 1974; And Whereas the period of take-over of the management of the Company expired on the 5th day of September, 1991; And Whereas for the purpose of reconstructing and rehabilitating the undertakings of the India Belting and Cotton Mills Limited so as to subserve the interest of the general public by diversion of the basic production to such new articles of production as shall ensure the commercial viability of the Company, it is necessary to acquire the undertakings of the Company; It is hereby enacted as follows :-

Act number

Act 31 of 1992

Year

1992

Enacted on

11-10-1993

In force from

11 October 1993

Jurisdiction

West Bengal State Act

Subjects

Administrative Law, Companies And Corporate Law

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Official source: India Code