The Textile Undertakings (Nationalisation) Ordinance, 1995

. ' -.: ; ~ ( ~ .r ' . . . . ' ,:\ •40 of 1983 ·•\ . • ;· ·, ' , / :~~ 1976. I • \ • . . ·• . . . . ' • ' • - · ltEG'lSfEUD No. D I 3l~~ rr ORDIN 1 f • \ • • , ..... ..,.,,. ,... \lTff JJ. (§Gg 1 PART ff-Seeton 1 ~Tf~t~ ~ 'Sl'f.Tfimt PUBLISHED BY AUTHORITY \91 I , I , • --- . ... - - 1 ;._--~----'-· _. --=· ::::.:::==== . tio 3_s] ~ i- -----~--==-=-·-=-==-. ----=·-------- - ==-----:_---=---.:::-_-___ NE_W ~ELHI, TUESDA. Y, JUNF 2 • 1995/!ASAi>HA 6, 1917 --==-==-=-=-==-=----=--=--------~==- Separate pagang is g1.ven to this Part • ·-------- m order that it may be &led as a separate , , -- --------· -----~ -- - y OP LAW, JUSTICE AND COMPANY AFFMRS • lative »~pa, t•neat) , . New Delhi, the 21th June, 1995/Asadha 6, 1917 (Saka.) • ' , ORDINANCE, 1995 No. 6 OF 1995 Promulgated l:,y the President in the Forty-sixth Year of the Republic of India. ' An Ordinance to provide for the acquisition and transfer of the textile unde1takings) and the right, title arid in·terest of the ow .;ers in respect of the textile underta.kings, specified in the , • •. • First Schedule with a view to augmenting the production and . . 'distribution of different varieties of cloth and yarn so as to su7·_~serve tl1e interests of the general public a,~_d for matters connected therewith or incidental thereto. WHF:REAS the textile companies specified in column (3) of the First Schedule have, through their undertaking·s specified in column (2) of the said Schedule, been engaged in the manufacture and production of , different varieties of cloth and yarn; · ·· AND _,.. ·:wft~ ·s, pending acquisition, the management .. of· the said tex:ile undertakings was taken over by the Central G<>vern111ent ttnder sect1on 3 of ·the Textile Undertakings (Talcing Over of Management) Act, 1~83 or under section 3 of the T.axmirattan and Atherton West Cotton Mills (T~ng Over: of Management) Act, 1976, as the case maybe; . . . • . , · • AND · · • 8 large sums of mo~ey ha~e been investe(lwith a view to making the said textile undertakings viable; • . J t ' ' . .' l • I . • T -: l ' j : L ' l ! I ! ; ' • ' i • .' I ' ·. ' I ! i I \ ' ,, ' ; ! ' ' ) I I ( • . •. ' • ' ; .• • ' • ! ' I ' ' I ' ! ' ' ' i ' ' ' ' • ' ' . i ' .I . 1 f ! ! I I / .<; < ' ' i ! . , ' ! ' ' ' ' ' ' • ' r • Short titJo and Debi,... .2 tHE G.AZR\1B OF INDIA ORDINARY (PAIT Jl-,.. ------=--=-=--·======---- ------ - =:::::::::::::::::=::-:=:::--:_=-=-=-=-=--=--:::::::~----· --------·· •------ -- • zz...,•~ AND WHEREAS further in~~$tment of very large sums of money is necessary for the purpose of sectiring the optim1Jn1 utilisation of the avail­ able facilities for the 1nanufacture, production and distribution of cloth and yax11 by the sa.i,d textile undertakings of ·the companies; AND --- such investment is also necessary for securing the continued employment of the worlanen employed in the said textile undertakings; AND WHERMS it is necessary in the pu-blic interest to acquire the said textile undertakings of the textile companies to ensure that the .interest of the general public are served by the contin11ance by the said undertakings of the companies of the manufacture, production and distribution of different varieties of cloth and yarn which are vital to the needs of the country; . •· • A.ND .... Lr a Bill to provide for the acquisijtion and transfer of the textile undertakings, and tha right, title and interest of the owners in rmpect of the textile undertakings, specified in the First Schedule with a view to augmenting the production and distribution of different varie·ties • of cloth and yarn so as to subserve .the ~terest of the general public and for matters connected therewith or incidental thereto has been introduced in Parliarnent but has not yet been passed; f AND WHEREAS Parli1ament is not in session and the President is satisfied that circ111nstances exist wh·ich render it necessary for hj1m to take im .. mediate action to give effect to the provisions of the Bill; Now, THF:REFOOE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to promulgate. the following Ordinance:- • I ' .. }>R)c:r,IMl"NARY • 1. (1) . This Ordinance may be called the Textile Undertakings (Nationalisation) Ordinance, 1995. • (2) The provisions of sections 31 and 32 shall come into force at once and the re1naini,ig p~visions of this Ordinance shall be deemed -to have come into force on the 1st day of April, 1994. 2. (1) In this Ordinance, unless the context otherwise requires,- . "' • - (a) ''appoin'ted day'' means the 1st day of April, · 1994; . (b) ''bank'' means . • • • (i) the State Bank of India constituted under the State Bank of India Act, 1955; . , 23 of 19 . . (ii) a subsidiary Bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959; 38 of 19 . (Ni) a corresponding new bank constituted under section s - 1 . - .,.,. ..... ·- • . ,,,. , ot the Banking Companies (Acquisition .. and Transfer of Under- takings) Act 1970; · S Ol 191 ' I • ' I THB GAZETrE OF INDIA EXTRA.ORDINARY 3 (iv) a corresponding new bank constituted under section 3 of t~e Banking Companies (Acquisition and Transfer of Under­ takings) Act. 1980; • (v) any other bank, being a scheduled bank as defined _in clause (e) of section 2. of the Reserve Bank of India Act, 1934, (c) "Com.missioner" means a Commissioner of Payments appointed under section 17· , (d) "Custodian" means a Custodian appointed under section 4 of the Textile Undertakings (Taking Over of Management) Act, 1983 or under section 4 of the Laxmirattan and Atherton West Cotton Mills (Taking Over of Management) Act, 1!}76; as the case may be; (e). "Nati?n~l Textile Corporation" means the National Tex~e Corporati•on ;Linuted formed and registerP.d under the Compames Act, 1956; (f) ''notification" means a notification published in the Official Gazette; (g) "owner", when used in relation to a textile undertaking, means any person or firm who or which is, immediately before the appointed day, the immediate proprietor or lessee or occupier of the textile undertaking or any part thereof. ar.j in the ca!>e of a textile company which is being wound up or the business whereof is being earned on by a liquidator or receiver, frncludes such liquidator or receiver, and also includes any agent or manager of such owner but does not include any person or body of persons authorised under the Textile Undertakings (Taking Over of Management) Act, 1983 or of 1983. under the Laxmirattan and Atherton West Cotton Mills (Taldng Over ott976. of Management) Act, 1976 to take over the management of the whole or any part of the textile -undertaking; ( h) ''prescribed" means prescribed by rules made under this 0,rdinance; ( i) "specified date" means such date. as the Central Government may, for the purpose of any provision of this Ordinance, by notifica­ tion s~ffy; and diffel'ent dates may ba specified for different provi.- • ; ;:~) sion of thlis Ordinance; • i ' (j) '.'subsidiary textile corporation" means the National Textile Corporation (South Maharashtra) Limited, the National Textile Cor­ poration (Uttar Pradesh) Limited or any other textile corporati0n formed by the National Textile Corporation as its subsidiary; (k) ''textile" includes yam or fabrics made either wholly or partly of_ cotton, wool, jute, synthetic and artificial (man-made) fibres; , (lY "textile company'' means a company (being a company as defined in the Companies Act, 1956) specified in column (3) of the First' Schedule as owning·· th~ textile undertaking · spec:,liied. in the corresponding entry in column (2) • df that Schedule; f Acquisi­ tion of rights of owne11!1 and vesting of the textile under­ takin!I! Genera) effect of Testing tHB ·o.AZJ!1TB OF INDIA .EXTRAORDINARY (PART IJ- ·- ........ , ·· - ---- ( m) "textile undetraking'' or "the textile ~dertaking" DleaJ19 und talcing specified in column (2) of the fust Schedule, the an er nt of which was before the appointed day, taken OWr by manageme . T ·1 U d aki the Central Government under the ext1 e n ert ngs (Taking 0v of Management) Act, 1983, or as the _.., •ay be. under ~ r:mirattan and Atherton West Cotton Mills (Taking Over of Man- agement) Act, 1976; (2)Words and expressions used herein and ~ot defined_ but defined in che Companies Act, 1956, shall have the meanin~ respecuvely a~gn. 1 1111958 ed to them in that Act. CHATER II . AcQUISinoN AND TRANSFER OF THE TEXT1LE UNDERTAKING 3. f.1) o. the appointed day, the right, title and interest of the OWllCI :a relation to every textile undertaking shall stand transferred to, and shall vest absolutly in, the Central Government. (2) Every textile undertaking which stands vested in ~he Centt-al Covernment by virtue of sub-section (1) shall, immediately after it .hae so vested,, stand transferred to, and vested in the National Textile Corporation. 4. ( 1) The textile undertakings referred to in secbion 3 shall be deemed to include all assets, rights, lease-holds, powers, authorities and • privileges and all property, movable and immovable, including lands, buildings, workshops, stopres, iirulfruments machinerw 1and eqti.ipmentJ cash balances, cash on hand, reserve funds, investments and book debts pertaining to the textile undertakings and all other rights and interests in, or atising out of, such property as were immediately before the appointed day in the ownership, possession, power or control of the taxtile company in relation to the said undertakings, whether within or outside India, and all books of account, registers and all other d-ocuments of whatever na­ ture relating thereto and shaI1 also be deemed to include the liabilities and obligations specified in -sub-section (2) o'l section 5. ( 4) All property as aforesaid which have vested in the Central Gov­ ernment under sub-section · (i) o'f section 3 shall, by force of such vest­ ing, be freed and discharged from any trust, · obligation mortgage, char~ .Ilen and all other incumbrances affecting it, and any attachmerH, injunct:on or decree or order of any court or other authority restricting t•be use of such property· in any manner shall be deemed to have been withdrawn. (3) .Where any licence or other instrument in relation to a textile undertaking had been granted, at any time before the date of promulgn­ tion of this Ordinance to the owner by the Central Government or a State Gvvemment or any other authOr:ity, the National Textile Corporation shall, on and from such date, be deemed to be substituted in such licence or other instrument in place of the owner referred to therein as if such licence or such other instrument • had been granted to it and shall hold such Iicerice or · tlhe • textile :undertaking specdfied in such other instrument for _ th~ . reminder or the pariod for which the owner would have such licence or the textile undemking under ' such other instrument. l Ss.c. l] THE _-;-: ..:=-::.-:--=-:..- _ _ GAZETfE OF INDIA EXTRAORDINARY 5 ( 4) E~;-...:::::-:----- ·-=- -.:·.: ___ :.::-_ ~ .:.:-=- ·- -- -·:..:· - -- -::.~- ·:_:__ - -- ---_ - --- - or~---- . ry mortgage of any property which has vested under tbi.s U-LUd11Ce m the Cent 1 Go , . • charge lien . . ra vernment and every person ho1ding any .- shall '. ~t 0ther mterest in or in relation to, any such property give w1thi ' an i tim '. n such time and in such manner as may be prescribed, 0th n . teat1on to the C.Ommissioner of such mortgage, charge. lien or er m l"est. ( S) For the removal of doubts it is hereby declared that the mort- gage of any pr ' h 1,.1: operty referred to in -sub-section (2) or any other pel'30n o uing any charg li . e, en or other interest in ~>r in relation to, any- 11uch property shall be . ' . hi • h•" d . entitled to claim in accordance Wlth s ng ...,. an interests pa ' 400-f 1983. 98'(){ 1976. . ' ymem of 'the mortgage money or other dues, in whole or m part out of th · h Fi Sc e amounts specified in relation to such property m t e '.rst hedule b t . h ' u no SU.Ch mortgage charge lien or other 11n~rest 'S all be 1cnforceab1 • ' .' • •l.e against any property wb1oh has vested 111 the Central Government. ( 6) If on the appointed day, any suit, appeal or other proceeding of whatever nature in 'relation to any pr0perty whli.ch has ~ted in the Cen_tral Government under section 3, instituted or preferred by or a~ainst_ the textile company is pending, the same shall not abate be :conmnued or be,_ in any way, prejudicially affected by reason or the -. nsfer of the textile undertakings or of anyfuing contained in this Or­ dinance, but the suit, appeal or other proceeding may be c0ntinued, prosecuted or enforced by or against the Natlional Tex.tile Corporation. S. (1) Every liability, other than the liability specified ·in sub-section (2), of the owner of a textile undertaking, in relation to the textile undertakings in respect o-f_ any period prior to the appointed day, shall be the liability of such owner and shall be enforceable against him and not against the Central Government or the National 'rextile Corporation. (2) My liability arisi1'g in _ respect of- ( a) loans advanced by the Central Government, or ~ State Gov­ ernment, or both, to a textile undertaking (together with interest due thereon) after the management of such undertaking ·had been tal>:en over by the Central Gavernment under section 3 of th~ Tex­ tile -Undertakings (Taking Over of Management) Act, 1983, or as the case may be, under section 3 of the Laxmirattan and Athert0n West Cotton Mills (Tak;ng Over of Management) Act, 1976; 0wner .. be liable forcer­ tami pTior Jiabilit­ in_ 40oi 19811. (b) •amounts advanced to a textile undertaking .. [after the man- . agement of such undertaking had been taken over by the Central -Government unde!" section 3 • of the Textile Undel"takings (Taking' Over of Management) Act, 1983, or a.,;i the case may be under section 3 of tihe La-km1rattan ·and Atherton West Cotton Mills (T~ng Over •· of ·Man'°agement) Act; .. 1976], by 'the National T~tile Corpora:i:iort ·or· by a state textile corporatwn, or by both, togethe'r with. interest 98{1! 1976. ~ . I .. •. • due thereon; • . , -(c) wages, salaries· and other dues of employees of the textile . .,. ,undertaking, in repsect . of- any period after ·the -management of such undertaking had been taken over -by. the Central Government. Transfer of any textile under• taldng or part thereof to a subsi­ diarY textile corpora­ tion. 1HB GAZETTE OF lNDIA EXTRAORDINARY [PAIT II- -h 11 ··d f th ·--• •0 : .. ted day be-~he liability of the Central Gov- s a , on an rom e app .... , - ernment and shall be discharge, for and on behalf of that Government, by the National Textile corporation as and when repayment of_ such 1 • becomes due or as and when such wages, salaries or oans or amounts other chJes become due and payable• (3) For the removal di. doubts, it ~ hereby declared that,__,. _ . ( a) save as otherwise expressly provi~e<l. ~ this section or iin ther section of this Ordinance, no liab1l'ity, other than the any o . . . liability specified in· sub-section ( 2), m relation to a textile under- taking, in respect of any period prior to the appointed ?ay, shall ~ enforceable against the Central Gowrnment or the Nat1onaJ. Textile Corporation; I • (b) no award, decree or order of any court, tribunal or o~her authority ~n relation to any textile undertaking passed aftler the appointed day, in respect of any matter, claim or dispute in relation to any mattar not referred to in sub-scetion (2), which arose before that day shall be enforceable against the Central Government or the National Textile Col'pOration; ! (c) no liability of any textile undertaking or any owner thereof in relation to any texttile undertaking before the appointed day, for the contravention o'f any provision of law for the time being in free, shall be enforceable against t;he Central Government or the National Textile Corporation. 6. (1) The National Textile Corporation may, by O'rder in writing, trans. far any texti1e undertaking specified at serial number 1 to 13 in the First Schedule or part of any such textile undertaking to the National Textile Corporation (South Maharashtra) Limited and any textile underaking spec,ified at serial numbers 14 • and 15 in the Firstt Schedule or part o'f any such textile undertaking to the National Textile Corporation (Uttar Prad•t!Sh) Limited, as the case may be, Ol" to any other subsidiary textile corporation and any such transfer shall be subject to such terms and conditions as may be specified in the said order. ( 2) The subsidiary textile corporation shall, on and from the date C1f such tr:msfer, re deemed to be substituted in the Idcence Ol" other instru­ ment referred to in sub-section (3) of sction 4 in place c,f the National Textile Corporation as if such licence or other instrument had been! grant­ ed to the subsidiary textile corporat!on and shall hold such licence or oth·~ instrument for the remainder of the period 'for which the National Textile Corporation would have hc1d such licence or other instrument. '(3) On the transfer to a subsidiary textile corporation i:if any tex­ tile un.aertaldng or any part thereof, the liabilities of National Textile Corooration, r~ferred to in sub-section (2) <Yf section 5, shall, rin so far as they reJ/ate to the textile undertaking or part thereof so transferred to the subsidiary textile corporation, become, on and from the date of such transfer, the liabilities o·f the subsidiary textile corporation and shall be discharged by the subsidiary· textile corp,ration ~ and when any such liability is required to be discharged. - Sic. 1] =--=--=-----=-~-=- --~ GAZt.TrE OF INDIA EXTRAORDINARY 7 (4) Save ·as oth-:--=-- . -- ... :-====:::: ·--. .:;;;--_-_-_-.:--:-: ferences in this Or ~ expressly provided in this Ordinance. re­ in respect of any ~ce to the National Textile Corporation shall, transferred to a su ~~ und~·g or any part thereof which Js ces to the sulbsidi bsidiary. ~extile corporation. be construed as referen- al.1y\ t~ corporation. : 4hf1983. 98oll870. 'l. (l) An amount under.taking transferr equal to the val~ of ~e ~ts of a. t.extile poration under sub- ed.. to, and vested m. the National Textile Cor­ contribution mad b section (Z) of seation 3- shall be deemed to be the National Tex\ Y the Central Government to the equity capital of National Textil UC e Co~ration; and for the contribution so made, the its memorand~ orpora~on shall issue (if necessary after amending ment paid-up sh and . ~cles °: a~iation)' t.o the Central Govern­ the amount : • in 1~s equity capital, having a face value equal to ing entry . spel ed against the textile undertaking in the corresp0nd- 1n co umn (4) of the First Schedule. (.2) Where any r b"li • thi Ordin . ia :i ty assumed by the Central Government under se:ti 1:7 ~ is taken over by the National Texti~ Corporation under th ohn ' . e Cen. tra\ Government shall surrender to that Corporation e s ares issued to • • • . · . . It under sub-section (1) having . the face value equal to the amount to the extent t.o which the liability has been so tak:n over by the National Textile Corporation and thereupon the s'h are capital of the National Textile Corporation shall. to the extent of the face value of the shares so surrendered, stand reduced. CHAPTER m ·PAYMEN'r 01' AMOmml 8. The owner of every textile undertaking shall ~ given by the Central Government, in cash and in the manner specified inChapter VI, for the transfer to and vesting in. it, under su~tion (1) of section 3, of such textile undertaking and the right title and interest of the owner in relation to such textile undertaking, an amount equal t.o the amount specified against it in the corresponding entry in column ( 4) of the First Schedule .· Shares to be issued by the National Textile -Corpora­ tion for the value of the asset(; transfer­ red to it by the Central Govern_ ment. Payment · of amount to owners of textile under­ takings. 9. (1) In consideration of the retrospective operation of the provi­ sions of section 3, 4 and 5, there shall be given, in cash, by the Cen­ tral Government to the_ own~r of every textile undertakin·g, the manage­ ment of which was taken over by the Central Government, an amount • equal to an amount calculated at the • rata specified in section 5 of the • Textile Undertakings (Takin~ Over of Management) Act, 1983, or as the case may be. as specified in section 5 of the Laxmdrattan and Atharton West Cotton Mills (Taking Over df Management) Act, 19176 for the 'period • commencing on the appointe;d day and anding on the date of promulga- tion of this Ordinance. ' \ Payment Qf further amount. ·c2)· In addition .to the amount referred to in section 8. there shall be given by the Central Government, in cash; . to the owner of every textile undertaking, ~mp'Jle interest at the rate of tour :per cent. per annum: on the amo~t specified against such owner· in the correspond­ ing entry in column (4) of the First Schedule for the perlo·d commenc- Manace­ meat, etc.• tectite UD4iier­ takiof!l, Special provision for dis­ P:,sal Of assebi of. the textile under- takingJ. in cer­ tain circum­ a;taaces. - --:· ·~t Duty of . persons charge of man­ agement of textile under­ takings to deli­ ver all assets. etc. 1}fB GAZ.BlTe OF INDIA BXTRAOR.DINARY [PART ll- =---=--=-=--:...:::::_:_::--:-.~-- -- - --:-· _ ____ _______ . __ . ---· -- ·•- - -, on the appointed day . an.a enaing on the date ma which paymeai .,_ truch amount is made by the Central Governmeat 'to the Commiwoner. (3) Tho amount representing interest calculated at • the rate ~ ied in sub-section (i) shall be given in additioa to the amount specifiel i.a tbe ~t Schedt.4e. : {-f) Por tht -remom of doubts, it is hereb7' declared that flle liabilities of the owners in relation to the textile undertakings whfcll •••e Y~ m the Central Government under section 3 shall be di»­ charged from the amount referred to in the First Schedule and also from the amounts determine(! under sub-sections (1) and • (2) in ac- • <SJrClance with the rights and interests of the criditors of the own.er. · CHAPrER ·IT .ANA<SMENT, ~. OF TEX'l'II.E UNDmTAKllro lt. 'I1ie • Nationat Textile Corporation ar. any pe_rson whiclt. that Corporation may, . by order in ~ting, specify; shall be entitle(! t<J. ei,.. ercise the powers of generai superintendence, direction, control anll management of the affairs and business of .a textile undertaking, tile ri~ht title and intarest of. an .owner in relation t.o which have vestiell in that Corporation under sub-section (2) of sectio~ 3, and do all sucll • things &s the owner of the textile . und~rtaking is authorised to exercise and do.' • 11. If the National Textile Corporation consfders it necessary or expedient for the better management modernisation, restructurin~ ~ revival of a textile undertaking so to · ao, it may; with the prevfoUIJ aanction of tne Central Government. tr~nsfe~. inort!!a~e; sell or other­ wise dispose of any land. plant ·machinery or any • other . assets of ariy • of thetextile undertakin'gs: • • • • •• • • • • • • • • Provided that the proceeds of no such transfer',· mortgage, sa]e or disposal ot assets shall be utilized for any purPQSe other than the pur­ pose for which the sanction of the Central C'.overnment has been ob­ tained .' •• • :. , . 12. On the vesting of the management of a textile uniiertaking in • the National Textile Corporation, all ·persons in charge of the manage­ ment • of • such textile undertaking- immediatelv before such vesting'. shall be bound -to deliver to the National Textile Corpiration all assets. • books of account. • registers or other • documents in their custody re­ lating to the textile undertaking. l3. The National Textile . Corporation shall m~tain -the account.& of: the .textile undartakings •in accordance with· the . prov:isins of the Com- panies &t, 1956. · I . . . > l ol 1956 SEc. 1] THE GAZ -=:- ·-.-:::..::.:.:.::~:,-:.::--: .. - .. . -::----. __ E1'TE OF INDIA EXTRAORDINARY - -~ :-: ·- -.- -:...-- . CHAPTER V :.·· 9 PROVISIONS RELA TIN G TO EMLoYEES OF TEXnLE U,ND!RTAKJNGS 14. (1) Every pers Industrial Disputes Ac on wh~ is a workman within the meaning of the appointed. day in th t, 1947 • and has been; immediately before the on and frorn tb . e. employment of a textile undertakin'g shall become poration and s~ ~i~inted day, an employee of the National Textile Cor­ p0ration with th a old .office or service in the National Tex.tile Col'­ other matters as e sa~: nghts and privileges as to pension, gratuity and lation to such t w?lu have b~ admissible to him if the rights m re- ted. . th Nextt e undertaking had not been transferred to, and ves 1 m, e ational Textile Corporation· and shall continUe to do so un ess and until his e 1 . ' . . i dul . mp oyment in the National Textile Corporation s 1 Y terrmnated or until his remuneration terms and conditions of emp oyment are duly alltered by the Nationai Textile Corporation. (2) Every person who is not a workman within the meaning of the Industrial Disputes Act, 1947, and who has been immediately before the appointed day, in the employment of a extile undartaking ~hall, in so far as such person is employed in connection with the textile undertaking which h~s vested in the National Textile Corporation, become as from the appomted day, an employee c,f the National Textile Corporation and shall hold his office or service therein by the same tenure, at the same remuneration and upon ~he...,.same ~rms and conditions and with the same rights and privileges as to pension and gratuity and other matters as be would have held the same under the textile undertaking ff it had not vested in the National Texl!i.le Corporation and shall continue to do 'SO unless and until his emplyment in the National Textile Corporation is duly terminated o'l' until his remuneration, terms and conditions of employment are duly altered by the National Textile Corporation. (3) Notwithstanding anything contained in the Industrial Disputes Act, 1947, or in any other law for the time being in force, the transrer of the serviccS of any officer or other employee of a taxtile undertaking to 1:he National Textile Corporation shall not entitle such officer or other employee to any compensation under this Ordinance or any other law :for the time betlng in 'force and no such claim shall be entertained by any court, tribunal or other authority. ( 4) Where, under the terms of any c0ntract of service or otherwise, any person whose servi~s b~ome terminated or whose services become •ansferred to ~he National Textile Corporation by reason of the provi­ ~Sions df. th:is Ordinance is entitled to any arrears of salary or wages or -any payment for any leave not availed of or other payment, not being payment by way of gratuity or pension, such })E!rson may, except to the extent &"UCh -liability has been taken over by the Central Government urider sactfon· 5, enforce his claim· against the owner o'f the textile under­ ·taking but not against the Central Government or the National Textile Corporation. I • i.s.· (1) Where ·the owner of a textile undertaking ~as established • a provident fµnd, superannuation, welfare or othe; fund Ior th~ benefit • of th~ ~rs?ns employe<;l in sticli. t~il'c! undertakiJ;tg_ . the morues: re1a~­ able to the employees, w:hose services have become transferred by or Employ­ mentor certain emp­ loyees to con­ tinue. Provi­ dent and other .funds. Tram1- !er emp­ loyees to a 911b­ sidiary textile corpora­ tion. Appoint­ ment of f:ommi&­ llioners •I pay­ :aoe»il!. lo llB 6.AZBTn OF JNDlA EX1'.lil.A.ORDtNAa}t • -- ---.- ~--.. ------------.. ...,....... ; -- • .... . -- - --· - ""'l.~ - --_, ·-~-- - -- ·- -·- -·- wider this Ordinance to the National Textile Corporation shall, out ot .iili monies standing, on t-he appointed day, to the credit of SUcb ptOft. dent fund superannuation, welfare or other fund, stand transfen-ed ~ , ., and shall vest in, the Nalionar Textile Corporation. . : • ~ (2) The monies which -stand transferred, · under S'llb-sectim1 (l), ti. the National Textile Corporation shall be dealt with by that Corporatioa in such manner as may be prescribed. 16 . Whe:re . any textile undertaking or any part rherem is transfer­ red undoer this Ordinance to a subsidiary textile corporation, every- per­ son referred to in sulrsection .(1) and sub-section (2) of section 14 shall on and from the date of such transfer, become an employee of the subsidiary textile corporation, and the provisions of sections 14 and 15 shall aP.ply to . such employee a-s they apply to an employee of the National Textile Corporation as if references in t.he said sections to the National Textile Corporation were referrences to the subsidiary rexri!e corporation. CHAPrER VI • CoMMISSIONER~ OF PAYM.Qll'I'I ' 17. (1) 'f'or the purpose df disbursing the ainounti, payable to tlwt owner of each textile undertaking, the Central Government shall, by noti­ fication · ~n the Official Gazette,- , (a) appoint such number of pel\'!Ons as it may thi:nl Al to be. • Com.missioners of Payments; and ( b) doenn.e I.he local limits within which the Co.tnmis9ionere «· Payments shall exercise the powers conferred, and vertorm •M duties imposed, on them by o:r under this Ordinance. (2) The Central Government may appoint such other pers0Il8 -a., it­ may think ~t to assist the' Commissioner and thereupon the Commia,-. sioner may authorise one o:r more of such persons also to exercise alt or any of the JX>Wers exercisable by him under this Ordinance, and di.tr.:; rent persons may be authorised to exercme different powers. (3) Any person authorised by the Com.missioner to exercise an7· powers may exercise those powers in the same mannet and with tbli same effect as if they have been conferred on that person directJ.y b1' ·this Ordinance and not by way of authorisation. (4) The salaries and allowances o! the Conumssioner and other pa-.. sons appointed under this section shall be defrayed out of the Con--- ~Iidated Fund <:If. India. • 1 (5) References m this Ordinance to the Commissioner shall, where- , · · .. more than one Commissioner has been appointed, be construed as :r,a.... references t-, the ,Commi.~ioner in relation to the textile undertaking withm the local limits of pie jwisdiction specified under clause {.b) c1' !I.lb-section (1) . : "' ' \ _' TilE GAZETIE OF INDIA EXTRAORDINARY l1 . 1.8.(l) 'Tho Central Government shall, within thirty day& from the • &pec1fied date, pay in Cash to the Commissioner for paymcmt to the • owner . of _a tex_tile undertaking. an amount equal ' to the amount specifted ; against the textil•a undertaking in the First Schedule an~ shall also pay Payment by the Cent.ral GoverR­ ment to the C~mmissioner such su~s as may be ·d~e fo the owner of a textile undertaking under sub-section (1) and (2) of section 9. (2) In relation to the textile unde-rtakings. the management of V.:hich was taken over by the Central Government under the Textile Undertaking& (Taking Over of Management) Act, 1983, . there shall be paid by th~ Central Government (in addition to the amount referred . to 1n sub-section (1) 1, to the Commis5ioner. in cash, such amount payable under se~ti.on 5 of that Act as remains unpaid in relation to _ the period commancmg on the date on which such managemet was taken over by , . the CenLral .Government and ending on . the. appointed day.,i . · . ., • • . (3) In relation to the textile undertakings, the manage~ent • -~ which was taken over by the Central Government under the Laxmirattan to the Com­ mis- sioner. , and .Atherton West Cotton Mills (Taking Over of Management) Act, 19'78. :t~ere shall - be paid by the, Central Government Fn addition to. the amount -referl'ed to fa sub-'aection (1)1, to the Commissioner, in cash . . ~uch_ amount payable under section 5 of that Act as remaiQs: unpaid in Je,ation_ to • t;h~ pe~od commenc_ing on the date _ 011, which ~uch manage­ ment was taken over by the Central Government and ending on t~ appointing day. • • (4) A deposit account shalt 'be opened by the ·Cen~al Government, ·in favour of the Commissioner, in th~ Public· Account of 'India, and . ~ery amount paid under • this Ordinance t.o the Commissioner shall be . 9.eposited by him to the credit of the said deposit account in the Pub­ lic Account of India, i and thereafter the said deposit account sh:\ll be . ·operated' by the · Commissioner· .. , • ... ·. • • • · - · , ' (5) Separate records shall be ma~ntained by ·the Commissioner in respect of each ,textile undertaking in relation to which . payments have been made to him under this Ordinance. • (6) Int.crest accruing on the amounts stand.in~ to the credit of the deposit account referred to in sub-section (4) shall inure to the beneftt of the owners of the textile undertakings. 19 .. . (I) TI1e. National Textile Corporation shall be entitled to re­ ceive, . up to the specified nate, to the exclusion ot all other peTSn~; any money due to the textile undertaking, realised aft.er the apPointed day, notwithstanding that t~e realisations pertain t.o , a peri~ prior · to tlie appointed day.' • "{2)' The National Textile Corporation m:ay malte a claim to _ ~he Commissioner with regard to every payment made by the Custodian after the aPt)Ointed day but before the date on which this Ord~ance was promulgated for discharging any liability of _ the ow:ner o~ textilE: under­ taiin·g in relation . to any period prior t.o t'he a~pomted d~y ~ and everr h l · • :Lall have nriorit'V, in accordance Wlth the pnonties attach- . auc c aim su " • . -:.... • · .;a;_ ·hi :L h · ·i : • d ·this Ordinance. to the matter m re.Fdtl.on i.u w Cu ~u~ . J!ii:. ~~~ b~n discharged. bv the Custodian. -- O?rtain -powers of the National Textile Corpora­ tion. Claims to be made to the Com­ mis­ sioner. Priority of claims. Admis­ sion or rejection of claims. 12 1HE GAZETIE OF INDIA EXTRAORDiNARY rP"RT n- .. : :.::.:.-:.-- ··---- -- ·- - • - ·- ···-- ----=:...-..:·. ·- ( 3) Save as otherwise provided in this Ordin~ce, ~he liabilities in reJation to a textile undertaking in. respect of any period pn~r to the appoin­ ted da which have not been discharged by the Custodian shall be the liabilities of the owner of that textile undertaking. 20. Every person having a claim against the ow~e~ of a te~tile under­ taldng shall prefer such claim before the Comrruss1oner within thirty days from the spedfi.ed date: Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from prefering the claim within the said period of thirty days, he may entertain the claim within a further period of _ thirty days but not thereafter. 21. nie claims arising out of the matters specifted in the Second Schedule shall have priorities in accordance with the following princi- ples, namely:- • '(a) category I shal1! have precedence over all other categories and category n shall have precedence over category m and so on; (b) the claims specified in each of the categories. except cate­ gory IV, shall rank equally and be paid in full; but if the amount - ! is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly;, ·(c)' the liabilities specified in category IV shall ·be discharged; subject to the priorities specified in this section,_ ~ accordance with •• the tarrns of the secured! loans and the priority, initer ~e, of s.uc~ loans; • and • • • _. r_ . ·: • _.. • , • - .. ·_.. _ _ • _ wk ·(d) the question of payment of a liability • with ·regard to a matter specified in a lower category shall arise only if a surplus is left after meeting all the liabilities specified in the immediately higher category. 22. (1) On receipt of the claims under section 20, the Commis.,io~ • shall arrange Lhe . claims in the order ·of priority specified in the Second Schedule and examine the same in accordance with the said order. (2)_ If, on examination of the claims, the Commissioner is of the opi­ nion that the amount paid to him under this Ordinance is . not sufficient _ to meat th~ liabilH!~s sp€ci:fied in any lower category, he shall not be re. guired to examine the liabili ties in respect of such lower category: 23 ( 1) After examining the claims with reference to the periority set out in the Second Schedule, the Commissioner shall fix a certain date on • ~r before · which every claimant · shall file the proof of his claim· or' be ex­ duded from the ~nefit of the disbursement made by the Commissioner (2)· Not ·less than fourteen days' notice of the date so fixed shall be givert by advertisement in one issue of the daily newspaper in the English languag~ • ~nd one issue of the- daily newspaper in the regional language • • as the • Commissioner may consider suitable, and. every such notice shall call upon the claimant to file the proof of his claim with the Commi~ioner within the time specified in the advertisement. • SEC. ll THE GAZEl'TE OF INDIA EXTRAORDINARY )3 (3) E -- · - -- - - - - - ---- very claiinant h . . . . . time specified b th w ~ f~ls to file the proof of his claim w1thm the men ts made b :y th e Coll1Iniss1oner shall be excluded from the disburse­ Y e Commissioner. 45ofl860. ( 4> The Conuni • . . . · opinion be nee SSioner shall, after such investigation as may, m his ·ng ' e~sary and after giving the owner of the textile undertak- 1 an opport.unit f . . reason bl Y O refuting the claim and after giving the claimants a a e opportunit f be' - · • th claim in h 1 . Y O mg heard, in wnting, admit or reJect e w o e or in part. (5) The Comm.i • d . ssioner shall have the power to regulate his own pro,. ce ure m all matters ari • d ino- the 1 - smg out of the discharge of his functions inclu - b P ace or places at which he may hold his sittings and shall for the purpose of maki . . . ' ng any 1nvest1gat1on under this Ordinance, have the same r;;r~~eare :7ested i~ ~ civil court under the Code of Civil Procedure, ' trying a swt, 1n respect of the following matters, narnely:- (.a) the summoning and enforcing th~ attendance of any witness and examining him on oath. ' (~) the. discovery and production of any c1ocument or other material ob3ect producible as evidence· ' ( c) the, reception of evidence on affidavits; and (d) the issuing of any commiS'.sion for the examination of wit­ nesses. 2 of 19'74. ( 6) Any investigation before the Commissioner shall be deemed to be ~ judicial proceeding within the meaning of sections 193 and 228 of the Indian Penal Code and the Commissioner shall be deemed to be a civil court for the purposes of section 195 and Chapter XX.VI of the Code of Criminal Procedure, 1973. (7) A claimant who is dissatisfied with the decision of the Commis­ sioner may prefer an appeal against the decision to the principal civil court of original jurisdiction within the local limits of wh-ose jurisdk­ tion the textile undertaking is situated: Provided that where a person who is a Judge of a High Court is ap­ poined to be the Commissioner, such appeal sha11 lie to the High Court for th~ State in which the textile undertaking is situated, and such nppeal shall be heard and disposed of by not less than two Judges of that High Court. 24. After admitting a claim unnder this Ordinance, the• amOUnt due in respect of such claim shall be credited by the Commissioner to the rele­ ~ant fund or be paid to the person or persons to whom such sums are. due and on such credit or payment the liability of the owner in respect of such claim shall stand_ discharged. . 25. (l)' .. If., out of.the-monies paid to bi~ in rel~ti~~ ~o a textil~ undertaking. there is a balance left after meetmsr tPP 11ab1lrt·es as !"nec1- fied in- the .Second Schedule, the Commissioner shall disburse srtch balance to the owner of such textile undertaking. Disburse- ' ment of money by the Com:::i:s_ sioncr to clair,, - ants. Disburse­ ment of amounts to the owners. Undis­ turbed « UD­ ciaimed ,amount.. to be deposit­ ed to the ,eneral :reserve aecount. .Assump- . 1ion <Yt liability. 14 1!ftB, OAZETI'B OF INDIA EXntAOIWlNARY L ... ,kT U- ·(2) Before making any payment to the owner of any textile under­ taking under sub-section (1), che Commissioner shall satisfy himself as to the right of such person to receive the whole or any part ·-Of such ·amount; and in the event of there being a doubt or dispute as to the dght of the person to receive the whole or any part of the amount referred to in sec­ tions 8 and 9, the Commissioner shall refer the matter to the court and make the disbursement in accordance with the decision of that ~urt. (3) For the removal of doubts, it is hereby declared that the entries in column (3) of the First Schedule shall not be deemed to be conclusive as to the right, title and interest of a.ny person in relation to any rextile undertaking specified in the corresponding entries in column ( 2). • of ,he said Schedule and evidence shall be admissible to establish the · right, title and interest of any person in relation to such textile undertaking. (4) Where any machinery, equipment or other pr~rty i~. ~ te,xtile undertaking has vested in the National Textile Corporation, but such machinery, equipment or other property does not belong to the owner of such textile undertaking, the amount specified in eel umn ( 4) of the First Schedule against such textile undertaking shall. on ; ref~rence m1de to it by the Commissioner, be approtioned by the court !~etween the owner of such textile undertaking and the owner of such machinery, equipment or other property having due regard to the value of such machinery, equip­ ment ·or other property on the appointed clay. Explanation.-In this section, "oourt", in refation to a textile under­ taking, means the principal civil court of original jurisdiction within the local limits of whose jurisdiction the textile tindertaldng is situated. · • •• ·.26. Any money paid to the ·Commissi:oner which :· :miains.' undisbursed' or unclaimed for a period of three years from ·the las~ day on which the disbursement was made, shall be transferred· by the Commissioner to the general revenue account of the Central Government: but a claim to any money so transferred may be preferrd to the Central Government by the person ·entitled to such payment and shall_ ·be dealt with as if. such transfer had not been made, the order, if any, for _payment _of the claim beinl.C treated as an order f,or the refund of revenue. • • CHAPTER VII' MISCELLANEOUS 111. (1) Where any liability of _the owner of a textile undertaking arising out of any item specified in category I of the Second Schedule is not discharged fully_ by the Commissioner out of the amount paid to him, under this Ordinance. , the Commissjoqer shall intimate in writing to the Central Government the extent of the .liability which remains undischarged, and that liability shall be ~urned by the Central Government. , (2) The Central Government may, by order, direct the • National Textile Corporation to talce' 'over any liability assumed by' thaY Govern­ ment under sub--section • ( 1), and on receipt of such direction, it shall· be t1ie dufy of the National Textile Corporation to discharge such liability .• . •• ' ' , t t,,.'.: ' , · ·, '1 -f.•:·::. ~- 1} rn~ GAZaT'J.'1} OF INDIA mxTa>.ORDUlUY ls .-::::--~ -~~ -. __, •· ~o~tmtandin~ - the v~ting. un~ ~ ~dioa~-:,,-~ --~ taking m the National TCJltile Corporation,-- • (a) the Custodian who has been manigiog the affairs cl. soca un~king before the date of promulgation of this Ordinance shall, until alte~ative arrangements have been made by the Nation~ Textil~ Corporati°?• continue to manage the affairs d such undertaking ~ if tbe Custodian had been authorised by the National Textile Corporattoo to manage the affairs of such undertaking; and )l.aftate­ ment ~ oontinlle to vcs\ .in the Custo­ dian ( b) the Custodian or any person authorised by him for this P~ shall, until alternative arrangements have been made by t~c • National Textile Corporation continue to be authorised to operate. m relation to _the textile undertaking, any account of such undertaking_ ia a bank as if such Custodian or the person authorised by th_e Custodian had been authorised by the National Textile Corporation to operate such account. 29• The provisions of this Ordinance shall have effect notwithstandinl an!th~g inconsistent t'herewith contained in any other faw for the time bemg m force or in any instrument having effect by virtue of any law other than this Ordinance c:Jr in any deer~ or order of any court, tr5bunal or authority. . 30 . . ( 1) E~ery contract entered into by the owner or occupier of any ~xtile undertakmg for any service, sale . or supply and in force immediately before the appointed day shall, on and from the expiry of one. hundred and twenty days from the date of promulgation of this Ordinance, cease to have effect unl~ such contract is before the expiry of that period. ratified. iii writing, by the National Textile Corporation and in ratifying such contrad tbe National Textile Corporation may make ~uch alterations. or modwca:­ iions therein as it may think fit: until al­ ternativt: arrange­ menb arc made. Ordina­ ance to override all other enact­ menb . Provided that the National Textile Corporation shall not omit to ratify a contract, and shall not make any alteration or modification in a contract, unless it is satisfied that such contract is unduly onerous or has been: enteral Contract. kl cea. to haYe effect unlem ratified by the National Textile Corpra~ itQ:&r. is.to in bad faith or is detrimental to the interests of the textile undertalcinc·, ( 2) The National Textile Corporation shall not omit to ratify a ~ bact or make any alteration or modification therein except after giving to tlle parties to the contract a reasonable opportunity of being heard , M4 except after recording in writing its reasons for refusal to ratify the caitra,f • for malting any alteration or modification therein~ 31._ ~y person who,---:-, ( 11) having !in lris ~ession, custody ctr ooilttol , any _propertJ '~•- ' fonning part of a textile undertaking, wrongfully v.i.thholds such pr<>­ perty from the Central Government or the National Textile Corponta _tion, or any person authorised by that Govei;nment 'ot Corporation~ 8i the ~ xnay be, in ~ behalf, or ,:.-: • . (b) wrongfully obtains .po~ession. of, or retains; any ptopetly forming part of the textile undertllki.ng . or -wilfully withholds or fail& 1o furnish to the Central Government, the N aional Tex.tile CorporatiOII I I ! 16 THE GAZETTE OF INDIA EXTRAORDINARY (PART H- or any person specified by that Government, or Corporation, as the • case may be, any document relating to such textile undertaking which may be in his posses.sion, custody or control or fails to deliver to the' National Textile Corporation or any person specified by that Cor~ poration any assets, books of account, registers or other documents in his custody relating to the textile undertaking, or • • ( c) wrongfully removes or destroys any property forming part of any textile undertaking or prefers any claim under this Ordinance which he kn.ows or bas reasonable cause to believe to be false or gr~ly 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. Oft'em:es by com­ panies. 3%. (l) Where an offence under this Ordinance has been committed by a company, every person who at the time the offence was committed was in charge of, and was rasponsible to, the company for the conduct of the busin~ of the company as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly: Protec­ tion of action taken in good faith. Textile compan_ ies not to be wound up by the court. ,Provided that nothing contained in this sub-section shall render any such person liable to any punishment, if he prows that the offence was committed without his knowldege or that he had exercised all dua diligence to prevent the commission of such offence. (2) Notwithstanding anything contained in sub-section ( 1), where any offence under this Ordinance has been committed by a company and it is proved that the offence has been committed with the consent or connivance· of, or is attributable to any neglect on the part of any director, manager, secretary or other officer of the company, such director,· manager, secretary or other officer shall be deemed to be guilty of that offence and shall be !fable to be proceeded against and punished accordingly . Explanation.-For the purposes of this section,- ( a) "company" means any body corporate and includes a firm or other association of individuals; and ( b) "director'', in relation to a firm, means a partner in the firm. 33. No suit, prosecution or other legal proceeding &hall lie against the Central Government or any officer of that GQvernment or the Custodian or the National Textile Corporation or any subsidiary textile corporation, or any officer or other person authorised by either of such Corporations for anything . which is in good, faith done or intended to be done undtt this Ordinance. • 34. No proceeding for 'the winding up o'f a textile company, the rights title and interest in relation to the textile undertaking owned by which have vested in the National Textile Corporation under this Ordi­ nance or for the appointments o'f a receiver in respect of the business of the t<axtile • undertaking . shall lie or be proceeded with in • any court except with the consent of the Central Government. • • ' ' · Sze. 1) --- - - . ·- --- THE GAZETrE OF INDIA EXTRAORDINARY 17 35• ( 1) The Central Government may, by notification, direct that all or any of the powers exercisable by it under this Ordinanc,a, other than· the power under section 36, may also be exercised by any person or persons as may be specified in the notification. Delega­ tion of powers. (2) Whenever any delegation of power is made under sub~ction (l) • the person to whom such power has been delegated shall act under the direction, control and supervision of the Central Government• 36• (l) The C~~tral Governmel)-t may, by notification, make rules to carry out the provisions of this Ordinance. Power f • to make rules. (2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:- (a) the time within which and the manner in which an intima­ tion referred to in sub-section ( 4) of section 4 shall be given; (b) the manner in which monies in any provident or other fund referred to in section 15 shall be dealt witJh • ' (c) any other matter which is required to be, or may be, pres­ cribed. (3)- Every rule made by the Central Government under this Ordi­ nance shall be laid, as soon as may be after it is made, before each House of Parliament, while it is in -sessi'Otl, for a total period of thirty days which may be comprisad in one session or in two or more successive ~essions, and if, before the expiry of the session immediately following the ·session or the successivie sessions aforesaid, both Houses agree in ~ making any modificaion in the rule or, both Houses agree that the rule should not b«: made, the rule shall thereafter have effect only in such modified 'form or be of no effe~~• as the case may be; so, however, t:hat any such modificatio~ or annulment shall ~e without prejudice to the validity of anything previoUsly done under that rule . 37. (1) If any difficulty arises in giving' effect to the provisions of this Ordinance the Central Government may, by order not inconsistent . ' . with the provisions of this Ordinance, remove the difficulty: Provid~ • that no such order shall be made after the expiry of a period o'f two years from the date of promulgation of this Ordinance. (2) Every order made under this section shal!, as soon a-s may be after it is made, be laid beore each House of Parliament. .. . . Power to remove difficul­ ties. i I j l ' l I I ! I l I 1 I j -: 3 j J -' 1 St. No. TH.B OAZB1TE OF INDIA BXTRAORDJNARY [P.\lt'r II =======---====::...:.:·~ --- .::=:::.:-==::.:::::=-:====:.:-=-=-:..=.....:·::..:-•• --· ------ ---·-· - -..::::::::::::: THE FIRST SCHEDULE _ [See sections 2(1) and (m), 8 and 18{/) J Amount (in rupees) Name of the tex,ik undertaking ···• · - ···· · - · ···- . -- ···· ··--- .. --------Name of the owner --------------. ---· · ·----- ·-· ·-- -- -- --- --- - ---------- (I) (2) (3) ----­ (4) Elphinstone Spinning amt. Weaving Mills, Elphinstone Roact, Bombay. Thi! Elphinstonc Spinning and Weaving Mills Co. Ltd. Kamani Chamb1::rs, 32, Ritn,ji Bhai Kamani Marg, Bombay-38. 2 Finlay Mills, 10/ 11. Dr. S.S. Rao Road, Bombay The Finlay Mills Ltd., Chartered Bank Buil­ ding Fort, Bombay-23. 3 Gold Mohur Mills, Dadasaheb Phalke Road, Dadar, Bombay. The Gold Mohur Mills Ltd., Chartered Bank Building, Fort Bombay-23. 4 Jarn Manufacturing Mills, Lalbaug, Pare!. Bombay. S Kc*hinoor, Mills (No. I), Naigaum• Cross Road, Dadar, Bombay. 6 Kc,hinoor Mills (No. 2), Naigaum Cross Road, Dadar, Bombay. 7 Kc,hinoor MiUs (No. 3), Lady Jam­ shtidji Road, Dadar, Bombay. 8 New City of Bombay Manufacturing • Mills, 63, Tukaram B. Kadam Marg, Bombay. 9 10 11 12 13 Podar Mills, N. M. Joshi Marg. Bom­ bay, - Podar Mills (Process HOu~e) G 1J!pat Rao Kadam Marg, Bombay. Shree Madhusudan Mills Pandurang Budhkar Marg. Bombay. Shrec Sitaram Mills, N.M. Joshi Marg, Bombay Tata Mills, Dt. Ambedkar Road, Dadar, Bombay. The Jani Manufacturing Co. Ltd., Lalbaug, Parcl. Bomhay-12. 1 I 1 1 The Kohinoor Mills Co. Ltd., Killick House, }- Charanjit Rai Marg (Home Street), Fort l Bombay-I. I J The New City of B~mbay Manufacturing Co. Ltd., 63, lukarnm Daisaji Kadam Path, Bombay-33. • The Podar Mills Ltd .. Podar Chambers, Syed Abdulla Brelvi Road, Fort, P.ombay-l. The Podar Mills Ltd., Podar Chambers. 'Syed Abdulla BreJvi Road, Fort, Bombay-I. Shree Madhusudan Mills Ltd., 31, Chow­ ringhee Road, Calcutta-I 6. Shre(: Sitaram Mills Ltd., N.M. Joshi M,trg Bombay-I t. • The Tata Mills Ltd., Bombay Housc-24 Homi Mody Street, Fort, Bornbay-23.' 14 Laxmirattan Cotton Mills, Kalpi Road L~it~irattan <;ott?n Mills Company Kanpur. L1m1ted, Debari Niwa$, Chatai Mahal. 15 Atherton West Cott,)n Mills, Anwar Ganj, Kanpur. Kanpur. Atherton West and Company Limited, An- warganj, Kanpur. _ • _ . . • _ - 4,56,98,000 8,14,87,000 5.45,55,000 2, 79,62,000 2,33,38,000 4,23,57,000 7,46,30,000 1.91,94,000 2, 70,87,000 J ,95,20,000 9,33,47,000 2,22,39,000 1,10,95,000 • .-.r.. Z} THE GAZElTE, OF INDIA EXTRAORDINAR.Y .: ~-•.==:::::::======-======-=.:::::=:::::~~=-~~====- 19 \ . \ THE SECOND SCHEDULE (See sections 2\, 22, 23 and 27) Order of priorities for discharge ., 1:-L•1· . . -01 _,, 1t1es in respect of a textile umkrtakillg PART A iotegory 1.- Post-take-over management ~rU>d (a) Loans advanced by a Bank. (b) Loans advanced by an institution other than a Bank. (c) Any other loan. (d} Any credit availed of for purpose of trade or manufacturing operntions. category 11.­ iJ, (a) Revenue, taxes, cesses, rates or any other dues to the Central Government or a State Government. 11, • • (b) Any other dues. category Ill.- PART B Pre-take-over management period Arrears in relation to provident fund, salaries and wages, and other amounts, due to an employeo. "- • ()ategory IV.- Secured loans. Category .V .- • Revenues, taxes, cesses, rates or any other dues to the Central Government, a State Govem"lent, a local authority or a State Electricity Board. tegory VI.- · (a) Any croiit availed of for purpose of trade or manufacturing operations. 1 :;· (b) Any other duei. SHANK.BR DAY AL SHARMA, President-~ K. L. MOHANPURIA, Secy. lo the Govt. of India. ·-------·--- •• - - P1U1S$, MINTO 1tOAD Nl!W l>&.IG Hnmll> BY TD KAM.tal!lt, OOVllllNMIINT OP 1KDlA. , AND pUBtJSIQ'D BY THE CONTROUZR OF PUBL!CA'l'IONS, ~ 1995.