Preamble

Preamble. Preamble An Act to make special provisions in the public interest for constitution of the Maharashtra Board for Restructuring of State Enterprises with power to determine and recommend timely measures to be taken by the Government of Maharashtra for restructuring, amalgamation, merger, closure, etc., and for determining for recommending measures for disinvestment of the equity capital of the Government in such Enterprises and for matters connected therewith and incidental thereto.

WHEREAS the Directive Principles of State Policy contained in Part IV of the Constitution, which are the guiding principles to be followed in the governance of every State, embody the concept of a Welfare State, and whereas the Supreme Court of India has, in several of its judgements, held that the said principles supplement the fundamental rights in achieving a Welfare State ;

AND WHERAS Maharashtra is a welfare State and also an industrially and commercially advanced State ;

AND WHEREAS as a welfare State it has always been the endeavour of the Government of Maharashtra that all assets and resources of the State are so utilized as to bring the maximum returns for the welfare and prosperity of the people of the entire State ;

AND WHEREAS it has also been the endeavour of the Government to ensure that there is overall balanced social and economic development and progress of the whole State and the wealth and prosperity of the State are shared equitably by the people of the State ;

AND WHEREAS it has been noticed by the Government that in spite of several measures taken in the past for this purpose, the operational and financial viability of serval State Enterprises, established over the years for assisting the achievement of the objectives of the welfare State, has deteriorated progressively, thereby not only straining the resources of the State but also adversely affecting the objectives of these State Enterprises ;

AND WHEREAS the State Government being concerned to ensure that these State Enterprises which have been set up for the development of infrastructure in the State and for facilitating the availability of goods and services to promote social and economic development in the State, continue to play an effective role and remain financially viable;

AND WHEREAS therefore, necessity had arisen of immediate intervention by the Government by way of making available the services of an expert body to provide mandatory advice and assistance to the Government as well as to such State Enterprises with a view to enabling the later to observe strict financial discipline and revive or to reorganize and restructure themselves to become financially viable and operationally sound;

AND WHEREAS for the purposes aforesaid, it was considered expedient to make special provisions;

AND WHEREAS both houses of the State Legislature were not in session;

AND WHEREAS the Governor of Maharashtra was satisfied that circumstances existed which rendered it necessary for him to take immediate action to make a law for the purposes aforesaid; and, therefore, promulgated the Maharashtra State Enterprises (Restructuring and Other Special Provisions) Ordinance, 2000, on the 18th November 2000; Mah. Ord.