Remember | Register | Forgot Password?
Bookmark This Page   RSS Feeds  Follow On Twitter

 

Search for Lawyers          
    

Home > Bare Acts > Property Law > Burmah Shell (Acquisition of Undertakings in India) Act,1976 > PAYMENT OF AMOUNT



Please Wait ..


Burmah Shell (Acquisition of Undertakings in India) Act,1976

Act No : 2

 

Section : PAYMENT OF AMOUNT

E-mail Print
SECTION 08: PAYMENT OF AMOUNT

- (1) For the transfer and vesting in the Central Government, under sections 3-and4-, of the right, title and interest of Burmah Shell in relation to its undertakings in India and for the vesting in the Central Government undersection 5-, of the rights specified therein, there shall be paid by the Central Government to Burmah Shell an amount of rupees twenty-seven crores and seventy-five lakhs in such instalments and in such manner as are specified in the Second Schedule,

(2) Taxes, if any, payable in India by Burmah Shell by reason of the payment of the amount specified in sub-section (1) shall be paid by the Central Government to Burmah Shell in Indian currency, and any amount received by Burmah Shell by way of refund of taxes so paid shall be paid back by Burmah Shell to the Central Government.

(3) The amount specified in sub-section ( 1 ) shall carry interest, free of income-tax at the rate of eight per cent, per annum from the 1st day of January, 1976. till the date of payment in the manner specified in the Second Schedule.



Add http://www.lawyersclubindia.com to your blinklist account Monitor http://www.lawyersclubindia.com with Blogarithm Add http://www.lawyersclubindia.com to delicious Add http://www.lawyersclubindia.com to your digg account Add http://www.lawyersclubindia.com to your fark account Add http://www.lawyersclubindia.com to your furl account Add http://www.lawyersclubindia.com to your magnolia account Add http://www.lawyersclubindia.com to your myyahoo account Add http://www.lawyersclubindia.com to your reddit account Add http://www.lawyersclubindia.com to your newsvine account Add http://www.lawyersclubindia.com to your shadows account Add http://www.lawyersclubindia.com to your simpy account Add http://www.lawyersclubindia.com to your spurl account
Read / Write Comments


See SC Judgments Of This Act

Comments


Read All Comments





NUJS

We will be updating this section with more ACTS soon!!





Quick Links




Subscribe to Bare Acts Feed

Enter your email to receive Bare Act Updates:






web analytics