Esso (Acquisition of Undertakings in India) Act,1974

Act No : 4

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Section : SHORT TITLE

ESSO (ACQUISITION OF UNDERTAKINGS IN INDIA) ACT, 1974
4 of 1974

An Act to provide for the acquisition and transfer of the right, title and interest of Esso
Eastern Inc. in relation to its undertakings in India with a view to ensuring coordinated distribution and utilisation of petroleum products distributed and marketed in India by Esso Eastern Inc. and for matters connected therewith or incidental .thereto. Whereas Esso Eastern Inc. a foreign company, in carrying on, in India, the business of distributing and marketing petroleum products manufactured by Esso Standard Refining Company of India Limited and Lube India Limited, and has, for that purpose, established places of business at Bombay and other places in India;

And whereas it is expedient in the public interest that the undertakings, in India, of Esso Eastern Inc. should be acquired in order to ensure that the ownership and control of the petroleum products distributed and marketed in India by the said company are vested in the State and thereby so distributed as best to subserve the common good;

Be it enacted by Parliament in the Twentyfifth Year of the Republic of India as follows:-

SECTION 01: SHORT TITLE

This Act may be called the Esso (Acquisition of Undertakings in India) Act, 1974.

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