Indian Iron and Steel Company (Acquisition of Shares) Act : Power of Commissionner to inquire into

Indian Iron and Steel Company (Acquisition of Shares) Act,1976

Act No : 89

Section : Power of Commissionner to inquire into disputes as to persons entitledto any amount.

4*[7A. Power of Commissioner to inquire into disputes as to persons entitled to any amount. Where there is any dispute as to the person or persons who are entitled to any amount payable under this Act (including any dispute as to who are the legal representatives of any deceased ---------------------------------------------------------------------- 1 19-11-1976: vide Notifn No. S. O. 4392, dt. 4-11-1976. 2 Subs by Act 59 of 1981, s. 3 (retrospectively). 3 Ins. by s. 3, ibid. 4 Ins. by Act 39 of 1977, s. 4 ibid., (w.e.f. 13-10-1977). 518 claimant to the amount), the Commissioner may, after making such inquiry as he may deem fit, make the payment to such person as appears to him to be best entitled to receive the amount: Provided that if the Commissioner is unable to determine as to who is the person entitled to the amount and considers that the matter could more appropriately be dealt with by the principal civil court of original jurisdiction within the local limits of whose jurisdiction the registered office of the Company is situated, he may refer such dispute to the said court, whose decision thereon shall be final: Provided further that nothing contained herein shall affect the liability of any person, who may receive the whole or any part of the amount allowed under this Act, to pay the same to the person lawfully entitled thereto.