Brentford Electric (India) Limited (Acquisition and Transfer of Undertakings) Act,1987
Act No : 36
Section : COMPANY TO BE LIABLE FOR CERTAIN PRIOR LIABILITIES
SECTION 05: COMPANY TO BE LIABLE FOR CERTAIN PRIOR LIABILITIES
(1) Every liability of the Company, other than the liabilities specified in sub-section (2), 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, o(, where the undertakings of the Company are directed, under section 6-, to vest in Andrew Yule, against Andrew value.
(2) Any liability arising in respect of advances made to the Company for the supply of articles, or in respect of materials supplied to the Company, after the management of the undertakings of the Company had been taken over by the Central Government shall, on and from the appointed day, be the liability of the Central Government or of Andrew Yule, as the case may be, and shall be discharged by that Government or Andrew Yule, a* and when payment for such advances or supplies becomes due and payable.
(3) 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 Andrew Yule, against Andrew Yule;
(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 Andrew Yule, against Andrew Yute;
(c) no liability incurred by the Company before the appointed day for the contravention of any provision of law for (he 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 Andrew Yule, against Andrew Yule.
Read All Comments
