Coal Mines (Taking Over of Management) Act,1973

Act No : 15

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Section : MINING COMPANIES NOT TO BE WOUND UP BY COURT

SECTION 10: MINING COMPANIES NOT TO BE WOUND UP BY COURT

(1) No proceeding for the winding up of a muning company, the management of whose coal mines has vested in the Central Government under this Act, or for the appointment of a Receiver or for any other order in respect of the business of such company, shall lie in any Court except with the consent of the Central Government.

(2) Notwithstanding anything contained inthe Companies Act, 1956-, or in any memorandum or articles of association of any mining company or in any instrument, no resolution passed at any meeting of the Board of Directors or of the members of a mining company shall, in so far as relates to the coal mine owned by such company or any business of such mine, be given effect to unless approved by the Central Government.

(3) Subject to the other provisions contained in this Act and subject to such exceptions, restrictions and limitations, if any, as the Central Government may, by notification in the Official Gazette specify in Ms behalf,the Companies Act, 1956-, shall continue to apply to every mining company in the same manner as they applied to it before the appointed day.

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