Chapter I PRELIMINARY

1. (1) This Act may be called the Pulgaon Cotton Mills Limited (Acquisition of Shares) Act, 1982.
2. (2) It shall be deemed to have come into force on the 24th day of August 1982.

In this Act, unless the context otherwise requires,-

1. (a) "appointed day" means the date of commencement of this Act;
2. (b) "bank" means a banking company within the meaning of the Banking Regulation Act, 1949 (X of 1949) ;
3. (c) "Commissioner" means the Commissioner of Payments appointed under section 5 ;
4. (d) "Company" means Messrs. Pulgaon Cotton Mills Limited, being a company within the meaning of the Companies Act, 1956 (I of 1956), and having its registered office at 56, Apollo Street, Bombay 400 023, in the State of Maharashtra;
5. (e) "share" means share in the capital of the Company, and includes a share pledged by any shareholder with any bank or other creditor;
6. (f) "shareholder" means,-
   • (i) a person who, immediately before the appointed day, was registered by the company as the holder of any share, and includes his legal representative ; or
   • (ii) a person who, before the appointed day, had lodged with the Company a proper instrument of transfer of any share in the form prescribed under section 108 of the Companies Act, 1956 (I of 1956), and executed in accordance with the provisions of that section ; or
   • (iii) a person who claims under a proper instrument of transfer of any share in the form prescribed under section 108 of the Companies Act, 1956 (I of 1956), and delivers such instrument to the Commissioner, duly executed, on or before such date as the State Government may, by notification in the Official Gazette, specify in this behalf;
7. (g) "specified date" means such date as the State Government may, for the purpose of any provision of this Act, by notification in the Official Gazette, specify and different dates may be specified for different provisions of this Act;
8. (h) words and expressions used herein and not defined, but defined in the Companies Act, 1956 (I of 1956), shall have the meanings respectively assigned to them in that Act.