The Bhaskar Textile Mills (Acquisition and Transfer) Act, 1986
The Bhaskar Textile Mills (Acquisition and Transfer) Act, 1986
General198634 sections6 chapters
This Orissa law authorizes the state government to take over the Bhaskar Textile Mills in Jharsuguda, transferring ownership to the state and a designated corporation. The primary goal is to reopen and rehabilitate the factory to ensure the public has access to affordable yarn. By taking control of the assets, the government aims to boost production and protect workers from unemployment, effectively nationalizing the mill to serve broader economic and social interests.
Chapter II ACQUISITION OF RIGHTS OF THE OWNER OF THE TEXTILE UNDERTAKING →
Chapter III PAYMENT OFAMOUNT →
Chapter IV PROVISION RELATING TO EMPLOYEES OFTHE TEXTILE MILLS →
Chapter V COMMISSION OFASSESSMENT →
Chapter VI COMMISSIONER OF PAYMENTS →
- 15Appointment of Commissioner of Payments
- 16Payment by the State Government to the Commissioner.
- 17Claim to be made to the Commissioner
- 18Priority of claims
- 19Examination of claims.
- 20Admission or rejection of claims
- 21Disbursement of money by the Commissioner to claimants
- 22Disbursement of amount to the owner of the Textile Undertaking
- 23Undisbursed or unclaimed amount to be deposited to the General Revenue account
Chapter VII MISCELLANEOUS →
- 24Act to over ride all other enactments
- 25Contract to cease to have effect unless ratified by the Corporation
- 26Penalties
- 27Offences by companies
- 28Protection of action taken in good faith
- 29Textile Underrating not to be wound up by the Court
- 30Delegation of powers.
- 31Power to make rules
- 32Power to remove difficulties.
- 33Declaration as to the policy of the State
- 34Repeal and savings
PDF: pending for this language.