Bolani Ores Limited (Acquisition of Shares) and Miscellaneous Provisions Act,1978
Act No : 42
Section : VESTING IN THE CENTRAL GOVERNMENT OF THE SHIRES HELD BY THE COMPANY
SECTION 03: VESTING IN THE CENTRAL GOVERNMENT OF THE SHIRES HELD BY THE COMPANY
(1) On the appointed day, all the shares' held by the Company in the share capital of the Bolani Ores Limited shall, by virtue of this Act. stand transferred to and shall vest in the Central Government.
(2) All the shares which have vested in the Central Government under sub-section (1) shall, by force of such vesting be freed and discharged of all trusts. liabilities, obligations, mortgages, charges, liens and other encumbrances affecting them, and any attachment or injunction or any decree or order of any court, tribunal or other authority restricting the use of the such shares in any manner shall be deemed to have been withdrawn.