Vidhi Codex

The Karnataka Electricity Supply Undertakings (Acquisition) Act, 1974

The Karnataka Electricity Supply Undertakings (Acquisition) Act, 1974

Corporate197425 sections

This law authorizes the Karnataka State Government to take over the electricity supply businesses of specific private companies operating within the state. It mandates that the assets, operations, and undertakings of these companies be transferred to the government. The government must provide compensation to the companies for the value of the assets taken. The legislation is designed to give effect to state policy regarding social welfare and resource management, ensuring that electricity supply is controlled by the public sector for the benefit of the people.

Start reading →Read full ActSections
  1. 0. Preamble
  2. 1. Short title, extent and commencement
  3. 2. Declaration
  4. 3. Definitions
  5. 4. Undertakings of the Companies to vest in the Government
  6. 5. Amount to be given to Companies
  7. 6. General effect of vesting
  8. 7. Deductions from the amount
  9. 7A. Application to the Tribunal
  10. 8. Duty to deliver possession of property acquired and documents relating thereto
  11. 9. Duty of the company to supply particulars
  12. 10. Right of Government to disclaim certain agreement
  13. 11. Provisions respecting the officers and employees of the company
  14. 12. Provident and other funds
  15. 13. Transaction resulting in dissipation of assets
  16. 14. Constitution and powers of Tribunal
  17. 15. Penalties
  18. 16. Offences by companies
  19. 17. Protection of action taken under the Act
  20. 18. Power to make rules
  21. 19. Power to remove difficulties
  22. 20. Laying of rules and orders before the State Legislature
  23. 21. Effect of other laws
  24. 22. Act to apply to undertaking voluntarily handed over to Government
  25. Schedule. Schedule

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