British India Corporation Limited (Acquisition of Shares) Act : CLAIMS TO BE MADE TO THE COMMISSIONER Indian

British India Corporation Limited (Acquisition of Shares) Act,1981

Act No : 29

Section : CLAIMS TO BE MADE TO THE COMMISSIONER

SECTION 08: CLAIMS TO BE MADE TO THE COMMISSIONER

(1) Every shareholder, having a claim in relation to any share acquired by this Act, shall prefer such claim before the Commissioner within thirty days from the specified date3: Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring the claim within the period of thirty days. he may entertain the claim within a further period of thirty days and not thereafter.

(2) Every shareholder of a preference share shall have a preferential claim with regard to the amount paid by the Central Government to the Commissioner.