Acquisition Act, 1894.

Establishment and incorporation

1. (1) For the purpose of securing and assisting in the rapid and orderly establishment and organisation of industries, trade and commerce in industrrial areas and bdustrial:estates in the State of Orissa, there shall be eslabxshed by the State Government, by notifiation, a Corporation by the name of the Orissa Industrial Tnfrn~truct~re Development .Corporation.
2. (2) The Corporation shall be a body corporate with, perpetual sucxession and n common seal, and may sue and be sued in it, corporate name, and shall ba competent to acquire, hold and dispcse OF property, both movable and immovable and to. contract and do all thingsnccessary for rhe pu@ose~ of this Act.