Taking over management of undertaking by State Government

The Shivraj Fine Art Litho Works (Acquisition and Transfer of Undertaking) Act, 1984

Corporate198426 sections

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Statutory text

(1) Nothing in sub-section
(2) of section 3 or section 4 or in any other provision of this Act shall be deemed to prevent the State Government from taking over the management of the undertaking, the right, title and interest in which vests absolutely in the State Government by virtue of the provisions of sub-section
(1) of section 3, or from transferring the management again to any Corporation or new Government company.
(2) On and with effect from such date as the State Government may, by notification in the Official Gazette, direct, the State Government shall take over from the Corporation, the management of the undertaking for management by itself as the owner thereof.
(3) In particular and without prejudice to the generality of the provisions of sub-section
(2) and notwithstanding anything contained in sections 4, 9, 10, 11, 12 and 13, upon taking over the management of the undertaking by the State Government, the following consequences shall ensue in relation to the undertaking that is to say,—
- (a) (i) the properties and the management shall be deemed to have been vested in the State Government;
  - (ii) the State Government shall be deemed to have been substituted in any licence or other instrument in relation to the undertaking;
  - (iii) the suit, appeal or other proceeding may be continued, prosecuted or enforced by or against the State Government;
- (b) for the purpose of management of the undertaking, the State Government shall be entitled to exercise to the exclusion of all persons, all such powers and do all such things in relation to the undertaking as the owner thereof;
- (c) the Corporation in charge of the management of the undertaking shall be bound to deliver to the State Government all assets, books of accounts, registers and other documents in its custody relating to the undertaking;
- (d) any person who has in his possession or under his control any assets, books, documents or other papers relating to the undertaking, shall be liable to account for the said assets, documents and other papers to the State Government, and shall deliver them to the State Government or to such person or persons as the State Government may specify in this behalf; and the State Government may take, or cause to be taken, all necessary steps for securing possession of the undertaking;
- (e) all the employees of the Corporation in relation to the undertaking shall form a separate unit for the purposes of its accounts and establishment, with the same rights and privileges as to salary, gratuity and other conditions of service as would have been admissible to them had the management of the Undertaking not been taken over by the State Government and shall continue to be so unless and until their employment is duly terminated or until their remuneration and other conditions of service are duly altered by the State Government and no officer or employee shall be entitled to any compensation under this Act or any other law for the time being in force and no such claim shall be entertained by any court, tribunal or other authority;
- (f) the monies, if any, standing to the credit of provident fund, superannuation fund, welfare fund or other fund in relation to the employees of the undertaking shall be transferred to, and vested in, the State Government and shall be dealt with in such manner as may be prescribed.

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