Bengal Immunity Company Limited (Acquisition and Transfer of Undertakings) Act : PRELIMINARY Indian Bare Acts

Bengal Immunity Company Limited (Acquisition and Transfer of Undertakings) Act,1984

Act No : 57

Section : PRELIMINARY

BENGAL IMMUNITY COMPANY LIMITED (ACQUISITION AND TRANSFER OF UNDERTAKINGS) ACT, 1984
57 of 1984
29th August, 1984

An Act to provide for the acquisition and transfer, in the public interest, of the undertakings of Messrs. Bengal Immunity Company Limited, and for matters connected therewith or incidental thereto.

WHEREAS Messrs. Bengal Immunity Company Limited were engaged in the production and distribution of articles specified in the First Schedule to the Industries (Development and Regulation) Act, 1951 namely, chemicals (other than fertilizers), drugs and pharmaceuticals which are essential to the needs of the general public;

AND WHEREAS the Central Government, being of opinion, after an investigation into the affairs of the Company, that the affairs of the Company have been managed in a manner highly detrimental to the public interest, had authorised, under section 18A of the Industries (Development and Regulation) Act, 1951, a body of persons to take over the management of the Company.

AND WHEREAS for the purpose of reconstructing and rehabilitating the undertakings owned by the Company so as to subserve the interests of the general public by the augmentation of production and distribution of different varieties of chemicals (other than fertilizers), drugs and pharmaceuticals, which are essential to the needs of the general public and to secure the continued supply thereof, it is necessary to acquire the undertakings of the Company,

BE it enacted by Parliament in the Thirty-fifth Year of the Republic of India as follows :-

CHAPTER 01: PRELIMINARY