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The Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act, 1978

[Act No. 13 of 1978]

[31st March, 1978.]

Sections Chaptericulars
Title The Hindustan Tractors Limited (Acquisition and Transfer of Undertakings) Act
Chapter I Preliminary
1. Short title and commencement
2. Definitions
Chapter II Acquisition and Transfer of The Undertakings of The Company
3. Transfer to and vesting in the Central Government of the undertakings of the Company
4. General effect of vesting
5. Company to be liable for certain prior liabilities
6. Vesting of the undertakings of the Company in the State Government of Gujarat
7. Power of State 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 to deliver possession of property acquired and documents relating thereto
12. Accounts to be rendered by the Company or any other person
13. Accounts
Chapter V Provisions Relating to The Employees of The Company
14. Employment of certain employees to continue
15. Provident fund and other funds
Chapter VI Commissioner of Payments
16. Appointment of Commissioner of Payments
17. Payment by the Central Government to the Commissioner
18. Certain powers of the Central Government or State Government or Government company
19. Claims to be made to the Commissioner
20. Priority of claims
21. Examination of claims
22. Admission or rejection of claims
23. Disbursement of amount by the Commissioner to claimants
24. Disbursement of amounts to the Company
25. Undisbursed or unclaimed amount to be deposited to the general revenue account
26. Assumption of liability
Chapter VII Miscellaneous
27. Act to have overriding effect
28. Provision relating to contracts
29. Transfer of assets, etc., to be void in certain cases
30. Protection of action taken in good faith
31. Penalties
32. Offences by companies
33. Delegation of powers
34. Power of Central Government to make rules
35. Power to remove difficulties
36. Declaration as to the policy of the State
The Schedule Order of Priorities for The Discharge of Liabilities of The Company
Part A Post-take-over management period
Part B Pre-take-over management period

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