AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

11. Disbursement of money by the Commissioner to claimants.-

(1) After admitting a claim under this Act, the amount due in respect of each share acquired by virtue of this Act shall be paid by the Commissioner at the rate of rupees ten per preference share, and at the rate of fifty paise per ordinary share to the person or persons to whom such sums are due, and on such payment, the liability of the Central Government in respect of the share so acquired shall stand discharged.

(2) The Commissioner shall also apportion amongst the share-holders, the amount paid to him by way of interest under sub-section (3) of section 7, and such apportionment shall be made on the basis of the amount due to each shareholder.



British India Corporation Limited (Acquisition of Shares) Act, 1981 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered by nubia  |  driven by neosys