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Sick Textile Undertakings (Taking over of Management) Act, 1972 Complete Act - Bare Act

StateCentral Government
Year
Act Info:
Preamble1 - THE SICK TEXTILE UNDERTAKINGS (TAKING OVER OF MANAGEMENT) ACT, 1972
Chapter 1
Section1 - Short title and commencement
Section2 - Definitions
Section3 - Act to override all other enactment, etc.
Chapter 2
Section4 - Management of sick textile undertakings to vest in Central Government on the appointed day
Section5 - Appointment of Custodian to take over the management of the sick textile undertaking
Section6 - Payment of amount
Chapter 3
Section7 - Power of Central Government to make certain declarations in relation to sick textile undertakings
Chapter 4
Section8 - Textile companies not to wound up
Section9 - Contracts, etc., in bad faith may be cancelled or varied
Section10 - Power to terminate the contract of employment
Section11 - Management of sick textile undertakings pending taking over physical possession by the Custodian
Section12 - Protection of action taken in good faith
Section13 - Delegation of powers
Section14 - Debts incurred for the purposes of textile undertaking to have priority
Section15 - Penalties
Section16 - Offences by companies
Section17 - Power to make rules
Section18 - Repeal and saving
Schedule1 - SCHEDULE I
Schedule2 - SCHEDULE II


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