Vidhi Codex

Bare Act

The Maharashtra State Enterprises (Restructuring and other Special Provisions) Act, 2000

General200018 sections

This Act establishes the Maharashtra Board for Restructuring of State Enterprises to address the financial and operational decline of various state-owned entities. It empowers the Government of Maharashtra to refer struggling enterprises to this expert Board. The Board then investigates and recommends specific measures, such as financial restructuring, disinvestment, merging, or even closing down non-viable units. The primary goal is to ensure that state resources are used efficiently, promoting balanced economic development. It applies to specific state enterprises listed in the Act’s schedule, ensuring they remain financially sound and continue to serve the public interest effectively.

Start reading →Read full ActSections
  1. 0. Preamble
  2. 1. XXVIII of 2000.
  3. 2. Definitions
  4. 3. Establishment of Board and related matters
  5. 4. Term of office, conditions of service, etc., of Chairperson and other Members
  6. 5. Consistent with the provisions of sub-section (1), the Chairperson and Members of the Board may pursue any other activities of their choice, for personal gain or otherwise, during their tenure.
  7. 6. Officers and other employees of Board
  8. 7. Provided that, such officers or other employees shall, before entering upon their duties, make a declaration of fidelity and secrecy in the form setout in Schedule II.
  9. 8. Vacancies, etc., not to invalidate proceedings of the Board
  10. 9. Members and Staff of the Board to be public servants
  11. 10. Constitution of Bench of Board
  12. 11. Such point shall be decided according to the Chairperson's opinion and his opinion shall be the final opinion of the Board.
  13. 12. Proceedings before the Board to be judicial proceedings
  14. 13. Power of Government to make reference to Board
  15. 14. Inquiry on reference by Government into the working of any State Enterprise by the Board
  16. 16. Preparation and sanction of Schemes
  17. I. List of State Enterprises
  18. II. DECLARATION OF FIDELITY AND SECRECY

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