Textile Undertakings (Nationalisation) Act : Textile companies not to be wound up by the Court. Indian

Textile Undertakings (Nationalisation) Act,1995

Act No : 39

Section : Textile companies not to be wound up by the Court.

34. Textile companies not to be wound up by the Court. No proceeding for the winding up of a textile company, the right, title and interest in relation to the textile undertaking owned by which have vested in the National Textile Corporation under this Act or for the appointment of a receiver in respect of the business of the textile undertaking shall lie or be proceeded with in any court except with consent of the Central Government.