Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act : PAYMENT OF FURTHER AMOUNT Indian

Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act,1981

Act No : 31

Section : PAYMENT OF FURTHER AMOUNT

SECTION 08: PAYMENT OF FURTHER AMOUNT

(1) The amount specified insection 7-shall carry simple interest at the rate of four percent, per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the Central Government to the Commissioner.

(2) The amount determined in accordance with provisions of sub- section (1) shall be paid by the Central Government to the Company in addition to the amount specified insection 7-.

(3) For the removal of doubts, it is hereby declared that the liabililies of the Company in relalion to its undertakings which have vested in the Central Government undersection 3-, shall be discharged from the amount referred to insection 7-, and also from the amount determined under sub-section (1) in accordance with the rights and interests of the creditors of the Company.