Bolani Ores Limited (Acquisition of Shares) and Miscellaneous Provisions Act : PAYMENT OF AMOUNT TO THE

Bolani Ores Limited (Acquisition of Shares) and Miscellaneous Provisions Act,1978

Act No : 42

Section : PAYMENT OF AMOUNT TO THE COMPANY

SECTION 04: PAYMENT OF AMOUNT TO THE COMPANY

(1) For the transit" to, and vesting in the Central Government under section 3-of the shares held by the Company in the Bolani Ores Limited, the Central Government shall, within thirty days from the appointed day, pay to the Company in cash an amount of forty-nine thousand five hundred rupees.

(2) Where the Central Government fails lo pay to the Company the amount specified in subsection (1) within the period specified in that sub-section, the Central Government shall pay on the said amount simple interest at the rate of six per cent per annum from the appointed day till the date of payment.