section 4
Payment of amounts.
The Pulgaon Cotton Mills Limited (Acquisition of Shares) Act, 1982General198221 sections3 chapters
Chapter II ACQUISITION OF SHARES OF THE COMPANY
Statutory text
- (1) For the transfer to, and vesting in, the State Government, under section 3, of the shares of the Company, there shall be given by the State Government to the shareholders of the Company, in cash and in the manner specified in section 6, an amount of rupees four per share.
- (2) The amount referred to in sub-section (1) shall carry simple interest at the rate of four per cent per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the State Government to the Commissioner.
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