Payment of amount to owners of closed textile undertakings

Payment of amount to owners of closed textile undertakings.

1. (1) The owner of every closed textile undertaking shall be given by the State Government, in cash and in the manner specified in section 10, for the vesting in the State Government, under section 3, of the right, title and interest of the owner in relation to such closed textile undertaking, an amount equal to the amount specified against it in the corresponding entry in column 4 of the First Schedule.
2. (2) A separate amount shall be given by the State Government, in cash, to the owner of every closed textile undertaking, in accordance with the provisions of section 11, for the deprivation of such owner of the management of the closed textile undertaking.