Braithwaite and Company (India) Limited (Acquisition and Transfer ofUndertakings) Act,1976
Act No : 96
Section : CENTRAL GOVERNMENT OR THE GOVERNMENT COMPANY NOT TO BE LIABLE FOR PRIOR LIABILITIES
SECTION 05: CENTRAL GOVERNMENT OR THE GOVERNMENT COMPANY NOT TO BE LIABLE FOR PRIOR LIABILITIES
(1) Every liability of the Company in respect of any period prior to the appointed day, shall be the liability of the Company and shall be enforceable against it and not against the Central Government, or, where the undertakings are directed, under section 6-, to vest in a Government company, against that Government company.
2) For the removal of doubts, it is hereby declared that,-
(a) save as otherwise expressly provided in this section or in any other provision of this Act, no liability of the Company in respect of any period prior to the appointed day, shall be enforceable against the Central Government, or, where the undertakings of the Company are directed under section 6-to vest in a Government company, against that Government company;
(b) no award, decree or order of any court, tribunal or other authority in relation to the undertakings of the Company, passed after the appointed day, in respect of any matter, claim or dispute which arose before that day, shall be enforceable against the Central Government, or where the undertakings of the Company are directed under section 6-to vest in a Government company, against that Government company;
(c) no liability incurred by the Company before the appointed day, for the contravention of any provision of law for the time being in force, shall be enforceable against the Central Government or, where the undertakings of the Company are directed under section 6-, to vest in a Government company, against that Government company.
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