Lily Biscuit Company ( Private ) Limited ( Acquisition And Transfer Of Undertakings ) Act, 1996

Assent of the Governor was first published in the Calcutta Gazette, Extraordinary, dated the 12th July, 1996. An Act to provide for the acquisition and transfer, in the public interest, of the undertakings of the Lily Biscuit Company (Private) Limited, and for matters connected therewith or incidental thereto. Whereas the Lily Biscuit Company (Private) Limited had been engaged in the manufacture of biscuits and confectionery; And Whereas the management of the undertakings of the Lily Biscuit Company (Private) Limited had been conducted in a manner highly detrimental of the public interest; And Whereas the management of the undertakings of the Lily Biscuit Company (Private) Limited was taken over by the Central Government under section 18A of the Industries (Development and Regulation) Act, 1951, on and from the 27th day of March, 1979; And Whereas the period of the taking over the management of Company expired on the 26th day March, 1996; And Whereas for the purpose of reconstructing and rehabilitating the undertakings of the Lily Biscuit Company (Private) Limited so as to subserve the interest of the general public by augmentation of production and distribution of the aforesaid articles which are essential to the needs of the general public, it is necessary to acquire the undertakings of the Company; It is hereby enacted as follows:-

Act number

Act 12 of 1996

Year

1996

Enacted on

12-07-1996

In force from

12 July 1996

Jurisdiction

West Bengal State Act

Subjects

Companies And Corporate Law

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Official source: India Code