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The Gresham and Craven of India (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1977

[Act No. 42 of 1977]

[20th December, 1977.]

Contents
Sections Particulars
Title The Gresham and Craven of India (Private) Limited (Acquisition and Transfer of Undertakings) Act, 1977
Chapter I Preliminary
1. Short title and commencement
2. Definitions
Chapter II Acquisition and Transfer of the Undertakings of the Company
3. Transfer of and vesting in the Central Government of the undertakings of the Compan
4. General effect of vesting
5. Central Government or the Braithwaite and Company Limited or the Government company not to be liable for prior liabilities
6. Vesting of the undertakings of the Company in the Braithwaite and Company Limited
7. Power of Central Government to direct vesting of the undertakings of the Company in a Government company
Chapter III Payment of Amounts
8. Payment of Amount
9. Payment of further amount
Chapter IV Management, Etc., of The Undertakings Of The Company
10. Management, etc., of the undertakings of the Company
11. Duty of persons in charge of management of the undertakings of the Company to deliver all assets, etc
Chapter V Provisions Relating to the Employees of the Company
12. Employment of certain employees to continue
13. Provident fund and other funds
Chapter VI Commissioner of Payments
14. Appointment of Commissioner of Payments.
15. Payment by the Central Government to the Commissioner
16. Certain powers of the Central Government or Braithwaite and Company Limited or Government company
17. Claims to be made to the Commissioner
18. Priority of claims
19. Examination of claims
20. Admission or rejection of claims
21. Disbursement of money by the Commissioner to claimants
22. Disbursement of amounts to the Company
23. Undisbursed or unclaimed amount to be deposited to the general revenue account
Chapter VII Miscellaneous
24. Act to have overriding effect
25. Contracts to cease to have effect unless ratified by the Central Government or the Braithwaite and Company Limited or Government company
26. Protection of action taken in good faith
27. Delegation of Powers
28. Penalties
29. Offences by companies
30. Power to make rules
31. Power to remove difficulties
32. Declaration as to the policy of the State
33. Repeal and saving
The Schedule Order of Priorities for the Discharge of Liabilities of the Company


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