 'ire alltminium oorporati)n of n~dia limited (acquisition and transflit of alidunium undertaking) bill, 1983 (to be/as introduced in 10k sabha)1 page 11,-( 1) after line 2, insert -"clausm" ( 11) line 7,-~ "clo\uses" 2 page 1i, line 6 from bot tom,-!ql: "com,a1nes" ~ "companies" 3 page 4, line 43,-~ "undrtaking ii ~ "undertaking" 4 page 5, line 19,-~r_ "the company" ,read "that company" 5 page 5, line 4ll-,_ m "a mount" ~  "amount ii " , pape 7, line 20,-!cl: "us ch " ~ "such" 7 page 8, -in the marginal healiing to clause 14,-!ql: "a,ppoln ment" ~ ""ppointment" 8 page 8, line 32,-"enure n ' 9 page 11,-d " t lause 25,-in 'the m3:r'ginal 11(:~ ln g 0 " ": n "(hntrarts" !cl: "q)btract" l~ 10 page 17, li~e 11,-t:or-, i~s 1, '75" ~ \ ' new deilli; dece:nber 1', 1,,83 agrahayana 25, 1~o5' (saka)  arrangement of clauses chapter i pil:lnunaiy clatrsis1 short title 2 definitiens  chapter ii aecttjrbi'rton amj) tran8fer of aluminrom under'l'aking 0' the company\ 3 transfer to, and vesting in, the central government of the aluminium undertaking of the company 4 general effect of vesting 5 central government or the bharat aluminium company not to be liable for prior liabilities 6 vesting of the aluminium undertaking in bharat aluminium company  chapter iii payment of amounts7 payment of amounts 8 payment of further amounts  chapter iv management, etc, of the aluminium undertaking9 management, etc, of the aluminium undertaking 10 power of central government to issue directions 11 duty of persons to account for assets, etc, in their possession  chapter v paovis'ions relating to certain employizs of the company12 continuance of employees 13 provident fund and other funds  commissioner of pa ymj:n'l's14 appointment of commissioner of payments 15 payment by the central government to the commissioner 18 certain powers of the central govern~ent or bharat aluminium company  clauns17 claims to be made to the commissioner 18 priority of claims 19 examination of claims 20 admission or rejection of claims 21 disbursement of money by the commissioner to claimants 22 disbursement of mounts to the company 23 undisbursed or unclaimed amount to be transferred to tilt general revenue account  chapter vii miscj:llak&ot7s 24 act to have overriding effec:t 25 contracts in relation to the aluminium undertaking to ce  to have eftect unless ratified by the central government 01'  bharat aluminium company 26 penalties 27 oftences by compaines 28 protection of action taken i;d good falth 29 delegation of powe~ 30 power to make rules 31 power to remove difficulties the schedule  billto ~tovide for the acquisition and transfer of the right, title and interest ~f the aluminium corporation of indi4 limited in relation to its undertaking at jaykay nagar, near asansol (west bengal) for the purpose of ensuring the continuity of production of alumrinium and aluminium fabricated products which are essential to the needs of the community and thereby to give effect to' the policy of the stat~ towards securing the principles specified in clause (b) of article 3'9 of the constitution  '  1_ whereas the undertaking of the aluminium corporation of india limited, a company within the meaning of the companies apt, 1956 at jaykay nagar, near asansol (west bengal) was engaged in the production of aluminium and aluminium fabricated pr9ducts falling under the 5 first schedule to the industries (development and regu1~tion) act, 19151: and whereas as a result of deterioration of operating efficiency, grave financial improprieties, failure to maintain harmonious industrial relations and other reasons, the co~pany had to resort to the closure of the said undertaking in 1973;  10 and whe'rfas efforts were made from 1975 onwards by the central government and the government of west bengal to secure the revival of the said undertaking with a view to the rehabilitation of the workmen adversely affected by the c1os'ure of the undertaking and also for augmenting the'· supply of aluminium and aluminium fahricated products and '5 the efforts did not succeed as the entire capital of the company had ' t 'll"  been eroded by ou,tstandil1g li~bi1ities an~ th~" managemen w~s un wi mg to invest any funds;    ~ and whous with a view to re-startinq the said undertaking, the management of the said undertaking was taken over by the central government on the 1st day of may i 1978 under the provisic?ds of the industries (development and regulation) act, 1951; and wherjas owins to the condition of the plant and machinery 5 and other equipment and the grave deterioration which had already taken place in the operating efficiency thereof, the undertaking bas not been able, in spite of financial ansi other assistance provided by the central government and the government of west bengal, to become  viable or generate the funds needed for the proper utilisation of its 10 capacity; and whereas further investment of substantial sums of money is needed for the rehabilitation and replacement of the capital equipment and in view of the serious adverse· financial condition ~f the company and the state of the undertaking, the company is not in a position to 15 ecure the funds necessary for such investment; and whereas it is necessary to make such investment tor securing proper utilisation of available facilities <for production of aluminium od aluininfom fabricated products which are essential to the needs of the community, particularly in the industrial and power sectors; 20 and whereas such investmellt is also necessary for securing the continued employment of the workmen employed in the said undertaking; ad -whereas it il neeessary in the public interest to acquire the said' undertaking to edable the central government to have such invest- 15 ment made and to ensure that the interests of the general pubuc are served by the continuance of the oid undertaking of the production of albminiuin and aluminium fabricated products; and whluas such acq~isition is for giving effect to the pollcy of the state towards securing the princip1es specified in clause (~) of article 30 39 of the constitution; be it enacted by parliament in the thirty-fourth year of the republic of lddfa as follows:-| -    ||------|| 3s   |short title f this act may be called the alumini'um corporation of india limi-' ted (acquisition aod transfer of aluminium undetujdn,) aet, i • z in this act, unless the context otherwise requiret,-(0) "aluminium undertaking", in relation to the c~mpanyi means the undertaking of the company located at jaykay nagar, 40 near ~ansol, (w~st bengal) being t~e industrial undertaking referred to in th, order of the governm~t of india in the ministry of industry (j:?epartment of industrial developme,nt) no so 293 (e) i 18aa/ldra/78, dated the lit day of lilay, 19'1i (b) "~ppointed day" means the date of commencement of tbti act;  -i e! lhe s(e) "bharat aluminium company" means the bharat aluminium company limited, a government company within the mean  ing of ·the companies act, 1966, and having its registered office at new delhi; (d) "commissioner" means the commissioner of payments appointed under section 1'; 10 (e) "company" means the aluminium corporation o~ india limited, being a company within the meaning of the companies act, 1956, and having its registered office at 7, council house street, 1 of 1808 calcutta;     u) "notification" means a notification published in the oftlc!lal gazette;·  (-g) "prescribed" means prescribed by rules made under this act;  (h) "specified date", in relation to any provision of this act, means such date as the central government may, by notification; pettfy for the purposes of that provision and different dates may ~ specified for different provisions of this act; (i) words and expressions used herein and not defined but 'de-ided in the companies act, i956, sq,ul have the meanings, r~ tively, assigned to them in that act  chapter iicqulslnon and transfer of aluminium undertaking of the company   3 on the appointed day, the aluminium undertaking of the company and the right, title and interest of the company in relation to that un'dertakjn~, sh~ll, by virt"de of this act, stand transferred to, and shall vest in, the central government transfer to, adel vesting in, the central government of the aluminium unclertidniof the company   general effect ofveetin, - (1) the aluminium undertaking of the companyshall be deemed 3°' •    to include all properties and assets (mcludin~ lands, quarrje~, mmes, buildings, offices, factories, workshops, store~, plants, mac~jllery and equipment, installations, instruments, laboratories, office ~urnjt~e, sta-- t;onery and equipment, nehicles, staff qua~~e~s, workers  colomes together with amenities and installations pertammg thereto, cash bal~nces 3s h h nd reserve furids investments, books, book debts, nghts, eas  on a ,,  h d leaseholds powers authorities and privileges) pertainmg to t e un ertaking and all oth~r rights and interests in, or arising ~&lt of, suc~ properties and assets as were immedia~ely before the appomted day m the h possessj'on power or 'control of the company and all books owners jp, ,   t lilt 40 of account, registers and all other documents of whatever na ure re  fng thereto  - (2) all properties and assets as aforesaid whieh have vested in the central government under section· 3 shall,  by force of such vesting, be freed and discharged from any trust, obligation; mortgage, charge, lien and an other inc\ullbrances affecting them, and any aftachment, injunctien, decree or order of any court or other· authority restricting the use 5 of such properties or assets in any maimer or appointing any receiver in respect of the whole or any part o~ such properties or assets shall be dee~ to have been withdrawn (3) every mortgagee of any property which has vested uilder this act in the central government and every person holding any charge, 10 lien or other ihterest "in, or in relation to, any nch property, shall give within such time and in such manner as may be prescribed, an intimation to the commissioner of such mortgage, charge, lien or other interest (4) for the removal of doubts, it is hereby declared that the mort- 15 gagee of any property referred to ·in sub-section (3) or any other person holding any charge, lien or other interest in, or in relation to, any such - property shall be entitled to claim, in accordance with his rights and interests, payment of the mortgage money or other dues ·in whole or in part, out of the amounts referred to in sections 7 and 8 but no such mort- 20 gage, charge, lien or other interest shall be enforceable against any property which has y~sted in the central government - (5) any licence or other ipstrument granted to the company in relation to the aluminium undertaking which has vested in the central government under section 3, at any time before the appointed day ande;as in force immediately before that day sball continue to be in force on and after such day in accordance with its tenor in relation to, and for tllae purposes ·of the said undertaking, and, on and from the date of vesting of such '1lddertaking under section 6, in the b~arat aluminium company, that company shall be deemed to be substituted in s'uch licence 30 or other instrument as if such licence or other instrumert had been granted to it and shall hold such ucence or other instrument for the remainder of the period for which the company would have held it ·under the terms thereof (6) if, on the appointed day, any suit, appeal or other proceeding 35 of whatever nature in relation to any property or asset which has vested in the central government under section 3, instituted or ·preferred by or against the company is pending, the same shall not abate, be discontinued or be, in any way, prejudicially affected by reason of the transfer 40 of the ahtminium undertaking or of anything contained in this act, but the suit, appeal or other proeeeding may be continued, prosecuted or enforcea by or against the cen!r81 go\'ernment or where th • alumlnium unclrtaking ·is directed under section 6, to vest in the mtarat aluminium company, by or against that company 5 (1) every liability of the company in relation to the aluminium 45 undertaking ip respect of any period prior to the appointed day shad be the liability of the company and shall be enforceable against it and not against the central government or where the aluminium under- taking is direeted under section 6: to vest in the bharat aluminium company, against ·that comp~ny central government or the bharat aluminium compad, not to be ua· (i) for the removal of do'ubts, it is hereby declared that,-: prloj:' liabilities 5 , (a) save as otherwise expressly provided in this act, no liability of the company in relation to the aluminium undertaking' respect ~f any period prior to the appointed day, shall be enfo~~ able agamst the central government or where the alum'  d k'   mlum un-~rta 109 is directed under section 6 to vest in the bharat alumi-" nlum company, against that company; 10 (b) no award, decree or order of any court tribunal or" other authority, in relation to the aluminium under~ng, passed after the appomted day, in respect of any matter, claim or dispute which arose before that day, shall be enforceable against the central government or where the alumini'um undertaking is directed under section 6 to vest in the bharat aluminium company, against that company; (c) no liability incurred by the company before the appl)inted day, for the contravention of any provision of law for the time being in force, shall be enforceable against the central government or where the aluminium undertaking is directed under section 6 to vest in the bharat aluminium company, against the company flo g" (l) notwithstanding anything contained in sections 3 and 4, the central government shall, as soon as may be, after the appointed day, direct, by notification, that the aluminium undertaking and the right, title and interest of the company in rel{ltion to that undertaking which have vested in the central government under section 3, shall, instead vesting of the aluminium undertaking in bharat alumi· nium companj fl5 of continuing to vest in the central government, vest in the bharat  alumini'um company either on the date of notification or on such earlier or later date (not being a date earlier than the appointed day) as may be specified in the notification (2) where the right, title and interest of the company in relation 30 to the aluminium undertaking vest in the bharat aluminium company under sub-section (1), the bharat aluminium company shall, on and from the date of such vesting, be deemed to have become the owner in relation to the aluminium undertaking, and all the rights and liabilities of the central government in relation to the al'uminium under-35 talting shall, on and from the date of such vesting, be deemed to ~ave become the rights and liabilities, respectively, of the bharat aluml~llum company chapter iii ~ • :  payment of amountspayltlent of amount • 40 1 for the transfer to, and veitide in, the central governm_t, under section 3, of the ajumlnium undertaking and the ri"ht, title and laterest 01 tile compaay in reiatiod to that ~ tbere sw imt jiven by th~ central govenunent to the company, in cash, and in the manner specified in chapter vi, an a mount of rupees four clores and 45 twertyfour lakba payment c1f further amounts 8 (1) f_ the te,rivatiea of die company of the maaapmat of tbe alu  udl uiidei'tiikiaa, 'fbere sbao be rivea by tile ceatnl gov· e1'ludeilt to the company, in cash an amount calculated at the rate of rupees two thousand five hundred per mensem for the period eommenclui on the date on which the manacement of the aluminium un· 5 _ dertaiddg was taken over in pursuance of the orders made by the central govermnent under the provisions of the industries (developmedt add regulation) act, 1951 and ending on the appointed day 860! 1951 (2) the aaount ,cul- ia medon 7 aaci the 'ulloudt calculated in  wida the p~ of 8ub-sedion (1) shad carry imple ida 10 ·tenat  tile rate of four per cedt per adduid for the period co_ede- oa die appoiuted day add edding on the date on which payment   _rat is by ceiitnd goena-a to tile cg- i  r ai' i,fi (j) the amoudts determided in accordance with the provlaloas of 15 sub-seetions (1) and (2) shall be gi:ven by the central goveramebt to the ccaapaay in  dditlon to the amount specified in sect_ 7 e4} ffir the nmeval of cioabts, it is ilereby declared that the ilabdi· tiea· af die c-pa, ia relatio to the aluminium undertaldq which  ftmet  the ctral gov--ent uncle  sedio 3, be dis- flo charged from the amount referred to in section 7 and also from the amounts determined under sub·sections (1), (2) and (l) in accordance - the ttpts ad lateiesl8 of che creditors of the chlpbiiy  chapter iv managimein', etc, or the alt1mlnil1m vndertaklngn  ment,ete, of the aluminium undertaking 9 the general superintendence, direction, control and management of the affairs and business of the aluminium undertaking shall, where a direction has been issued by the central government ·i1nder section 6, vest in the bharat aluminium company and thereupon the bharat aluminium company shall be entitled to exercise, to the exclusion of 30 all other persons, all such powers and do all such things at the com-'pany is authorised to exercise and do in rrlation to such undertaking powet of central govern-i'\ent to bsue directiona 10 the central government may issue strch directions as it may deem desirable in the circumstances of the case to the bharal alumj-nium company and the bharat al'1minium company may also, if it 80 35 desires, apply to the central government at any time for instruction as to the manner in which the management of the aluminium undertakillg shall be conducted by it or in relation to any other matter ansing in the course of such management dutjof persolli to account for _ta, etc, in their poueslion 11  (j) any person who hal, on the appointed day, in his possession or under his control, any assets, books, documents or other papers 40 relating to the aluminiun1 undertaking which has vested in the central government or the bharat aluminium company under this act &hall de liable to 8cccyildt for the aaid assets, books, documents and o1ber paper" to the centl'al' government or the bharat aluminium company 45 aud hall deliver them up to the central government or the bharat ahlminium company or to such person or persons as the central government or the bharat aluminium company may specify in this behau (z) 'the cential government th may take' or cause to be taken 11 or e bharat aluminium comnji_ of the aj ' a necessary step i ' r--j ummium undertakin rr h' h h s or securing possession ment or the bharat alumini~:n wc ic as vested in the central govemompany "ilnder this act 5 (3) the company shall with' h  ment 1 ' in suc period as th ·c  may al ow in this behalf fu 'h t e entral goveminventory of all its properties ~nd r:ls t 0 that government a complete ta:ring to the aluminium undertak' sse s, ~ on the appointed day, per-government under section 3 and i mg ~hich has vested in the central 10 ment or the bharat aluminiu c or this purpose the central governall reasonable facilities m ompany shall afford to the company  chapter vconti_ nuance ofemp_ loyeei provisions ref,a ting to certain employe&; c 12 (1) of the ompany '5 d ' i ever~ pf'rson who has been, immediately belore the appointed ay, emp oyed in the aluminium undertaking shall become,-(a) on and from the' appointed day, an e~ployee of th c t i government; and e en ra 20 (b) w~ere the aluminium undertaking is directed 'under section 6, to vest in the bharat aluminium company, an· em~oyee of that company on and from the date of usch vesting, and shall hold office or service under the central government o~ the bharat, ~luminium company, ao; the case may be, with the,same rights and privileges as to pension, gratuity and other matters as would have been admissible to him if there had been no such vestil\g and shall 25 continue to do so lmle!;!; and until his employment under thl~ central government or the bharat aluminhlm company, as the case may be, is duly terminated or until his remuneration and other conditions of service are duly altered by the central government or the bharat jo aluminium company, as the case may be, 14 of 1947, (2) notwithstariding anything contained in the industrial disputes act, 1947, or in any other law for the time being in force, the transfer of the services of any officer or other person employed in the aluminium undertaking to the central government or the bharat aluminium company shall not entitle such officer or other employee to any com-provident fun:! and other funda, :~5 pensation under thi!' act or under any other law for the time being in force and no such cla:m shall be entertained by any court, tribunal (lr other authority, 13, (1) where the company has established a provident fund, superannuation fund welfare fund or any other fund for the benefit of the 40 persons employed by it, the moni~ relatable to the officers or other employees, who"le !;ervices have become transferred, by or under this act to the central government or the bharat aluminium company, shall, out of the monies standing orr the appointed day, to the credit of such provident fund, superannuation fund, welfare fund 45 or 'othertund, stand trano;ferred to, and vest in ·the 'central government or the bharat aluminium company, as the case may be, (2) the mon;eo:; which stand transferred under sub-s~ction (1) to the central government or the bharat aluminium company, as the case mnv he shall be dealt with by that government or that company in such 50 manner ~s may be pre~cribed  chapter vi co~ml5s10~er or payments14 (i) tile cdiralgover,:1d1eat  shah, f'or the pui'poie of cysbunlaa the aaaoua&s payable to the company under section 7 and section 8, by dmileation, appoint a commissioner of payments, 5 appoln'-ment of commissioner of payments (2) the' central govemmedt may appoint such otber persons as it may tbink fit to assist the commissioner and thereupon the commissioner may authorise one 0'1' more of such p"rsons also to exerdae all or any of 'the powen exercisahle hy him under this ad add dltrerent penon! may be authorised to exercise different powen 10 (3) any person authorised by the commissioner to exercise any of the powers exercisable by the commissioner may exercise those powers in the !lame manner and with the same effect as if they have been confert~d on that persoll directly by this act and not by way of authorisatiott 15 (4) tile saim'ies and allowaac:es of the coldlllissloner  ocher persons appoidted under thh section shall 'be defrayed out of the consolidated f'bnd of india, 15 (1) the central government shall, within thirty days from the specified date, pay, in cash, to the commissioner fof' payment to the':io company an amount equal to the amount specified in rcction 7 :and the amounts payable to the company under section 8 payment by the udtralgov ernment to tbecommissioner (2) a deposit account shah be opened bythe central government in favour of the commis'1ion~r, in the public account of tndia, and every amount pnid under this act to the commissioner shall be deposited 25 hy him to the credit of the said depoo;it account and the said deposit aecount shall be operated ~ the commissioner ' (3) records shan be maintained by the commissiomf in t'espect of the aluminium undertaking in relation to which paymen~ have been made to him under this act (4) the interest accruing on the amount standing to the credit of the deposit account referred to in sub-section (2) shall ensure to the benefit of the company  18 (1) the central government or the bharat aluminium company, as the ,case may be, shall be entitj,ed to r~eive up to the specified date, 35 to the exclusion of all other persons, any money due to the company, in relation to the aluminium undertaking realised aft-er the appointed day notwithstandinp, that the realisation pertains to a period prior to the appointed day  , certain powers of the central government or bbarat aluminium company (2) the central government or the bharat aluminium company, 8's 40 the case may be, may make a claim to the commissioner with regard to every payment made by it after the appointed day for discharging any liability of the company pertaining to the aluminium undertakin~ in relation to any period prior to the appointed day; and every such claim shall have priority in accordance with 'the priorities attaching 45 under this ~ct 10 the matter in relation to which such liability has been discharged by the central government or the bharat aluminium company, as the case may be (3) save as otherwise provided in this act, the liabilities of the 5 company in relation to the aluminium undertaking in i'espect of any transaction prio~ to the appointed day, which have 'not been discharged on or before the specified date, shall be the liabilities of the company 17 every person having a claim against the company in relation to the aluminium undertaking shall prefer such claim before the conllnis-10 sioner }\ ithin thirty days froll~ the specified date: claims obe made to the commis,ioner prov;ded that if the commissioner is satisfied that the claim~nt was prevented by sufficient cause from preferring the claim within the said period·of thirty days, he may entertain the claim within a further period ot thirty days and not thereafter priority of claims 15 ]8 the claims arising out of the matters specified in the schedule shah have priorities in accordance with the following principles, namejy:-(a) category i shall have precedence over all other'categories and category ii shall have precedence over category iii and so on; (b) the claims specified in each of th~ categories shall rank equally and be paid in full, but, if the amount is insufficient to meet such claims in full they shall abate in equal proportions and be paid accordingly: ' -  25 (c) the question of discharging any liability with regard to a matter specified in a lower category shall arise only if a surplus is left after meeting all the liabilities specified in the immediately higher category examination of claims 19 (1) on receipt of the claims made under s~ct~~n 17, t~e co~is­sioner shall arrange the claims in the order of priorities specified in ther -   danc with such order 0 30 schedule and examme the same in accor e priorities (2) if on ~xamination of the claims, the commis,  io~er is of opinj~n that the amount paid to him \1nder this act is n~t l~uffi~'e;;: ~q:7:d t t: liabilities specified in any lower category, he s a no  examine the claims in respect of such lower category 35  " g the claims with reference to tl~e priorities 20 (1) after examlolo d  r before   h set out in t e s hed ie the commissioner shall fix a ate on 0 c u, h' l' which every claimant shall me the proof of is calm admis_ sion or rejeetion of cla,ims  f f the date' so fixed shall be (2) not less than fo~rteen ~:~: :fo :c~a~y newspaper in the english given by advertlse~ent in o~e  r art of the country and in one 40 language having ~irculat~on in t~e :~~o r~gional language as the comissue of such dally new~paper in d uch notice shall call upon mis'5ioner may consider suitable'h~n i ~very ':h the commissioner within the claimant to file the proof of  is c am wl 4 the- time specified in the advertisement  5· (3) every claimant who fails to file tbe proof of his c1ai·m withift the time specified by the commissioner shall be excluded from the disbursements made by the commissioner (4) the commissioner shall, after such investigation as may, in his opinion, be necessary and after "lving the company an opportunity of 5 refuting the claim and" after giving the claimant a reasonable opportunity of being heard admit or reject, by order in writing, the claim in whole or in part, ' (5) the commissioner shall have the power to regulate his own procedure in all matters arising out of the discharse of hi3 functions, 10 including the place or places at which he may hold his sittings and shall, for the purpose of making an investigation under this act have the same powers as are vested in a civil co,urt under the code of civil procedure, 1908, while trying a luit, ,in re!pect of the following matters, ' of j9oi, namely:-15 (a) the 'summoning and enforcing the attendance of any witness and examining him on oath; (b) the discovery and production of any document or other material object producible as evidence; (r) the reception of evidence on aftidavits; llo (d) the issuing of any commission for the examination of witnesses ,  (6) any investigation before the commissioner shall be deemed to be a judicial proceeding within the meaning of sections 193 and 228 of the indian penal code and the commissioner shall be deemed to be a,lls 45 of 1860, eivil court for the purposes of section 195 and· chapter xxvi of the code of criminal procedure, 1973 2 otis", (7) a claimant who is dissatisfied with the decision of the commissioner may prefer an appeal against the decision to the principal civil court of original jurisdiction within the local limits of whose jurisdietion 30 the registered otftce of the company is situated: ' provided that where a person who is a judge of a high court is appointed to be the comm'issioner, the appeal shall lie to the high court within the local limits of whose jurisdiction such registered oftlce is situated, and such appeal shall be ooard and disposed of· by not less 35 than two judges of that high court 21 alter admitting a claim under this act, the amount due in respect of such claim shall be paid by the commissioner to the person or persons to whom such amount is due, and, on such payment, the llability of the company in respect of such claim shall stand discharged 40 dbburae meat of jjujney by the comm's-lour to claimants, 22 (1) if out of the monies paid to him under section 1$, there it a balance left after meeting the liabilities,,, specified in the schedule, the commissioner shall disburse such balance to the company, disbursemcntof amoulltato tbccompany (2) where the possession ~f any maehinery, equipment or other property, has vested in the central government or the bharat alumintufn 45 company under this act, but such machinery, equipment, or other ~roperty does not belong to the company, it 'shall be lawful for the central governme~t or the bharat aluminium company to continue to possess such machmery or equipment or other propert th t d d't' y on e same 5 ,erms ~n con 1 ions under which it was possessed by the com an tmmedjately before the appointed oay, p y 23, a~y mo~ey paid to the commissioner which remains undisbursed or un~lalmed on the date immediately preceding the date on which the oftice ~i ,the commissioner is wound up, shall be transferred by the jo commlsslon-er, before his office is finally wound up, to the general revenue account of the central government; but a claim to any money so transfer~ed may be preferred to the central government by the person entitled to such payment and shall be dealt with a's if such transfer had not been made, and the order, if any, for pa~ment of the '5 claim being treated as an order for the refund of revenue, udda-bursed or unclaimed amount to be transferred to the gene· ral revenue 8c'count  €hapter vii m!scelland>us24 the provisions of this act shall have effect notwithstanding anything inconsistent therewith contained in any other law for the time act to have overriding eltect :l()o being in force or in any instrument having effect by virtue of any law, other than this act or in any decree or order of any court, tribunal ()r other authority , , 25, every contract entered into by the company in relation to the aluminium undertaking for any service, sale or supply, ·and in force immediately before the appointed day, shall, on and from the expiry of 25 one hundred ·and eighty days from such day, cease to have effect unless such contract is before the exp!ry of that period, ratified, in writing, by the central government or the bharat aluminium company and, in ratifying such contract, the central government or the bharat aluminium company may make such alterations or modifications therein 30 as it may think fit: provided that the central government or 'the bharat ai~minium company shall not omit to ratify a contract, and shall not make any alteration or modification in a contract,-contract in relation to the aluminllml under· taking to cease to have effect un less ratified by the central goverrunent or bharat aluminium company, 35 (a) unless it is satisfied that such contract is unduly onerous or has been entered into in bad faith or is detrimental to the interests of the central govermpent or the bharat aluminium company; and (b) except after giving the parties to the contract e! reasonable opportunity of being' heard and except after recordi~ in writing its reasons for refusal to ratify the contract or for makmg any alteration or modification therein,  penalties 26 any person who,-(a) having in his possession, custody or control any property or asset'$ forming part of the aluminium undertaking, wrongfuny withholds such property or assets from the central gowrnment or the bharat aluminium company; or (b) wlledgfuu, obtains posaes&ion of, or retains, any property or 'assets forming part of the aluminium undertaking; or  tc) wilfully withholds or fails to furnish to the central government, or the bharat aluminium company or to any person or body of persons specified by that government or company, any 5 document or inventory relating to that undertaking which may be in his possession, custody or control; or (d) fails to deliver to the central government, or the bharat aluminium ~ompany or to any person or body of persons specified by that government' or company, any property,· assets, books ot 10 account, registers or other documents in, his poiiiession, custo(ly or control, relating to the aluminillm undertakingj or (e) wrongfully removes or destroys any property or asset torming part of' the alumini'",m undertaking or prefers any claim under this act which he know's or has leasonable cause to believe 15 to be false or grossly inaccurate, shall be punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupees, or with both offences by companies 21 (1) where an offence under this act has been committed by a 110 company, every person who, at the time the offence was committed, was in charge 0(, and was responsible to, the company for the conduc~ of the bu'siness of the company, as well as the company, shall be deemed to be guilty of the oftedc8 and shan be liable to be proceeded against and punished' accordingly: - sl5 provided that nothing contained in this sub-tection shall render any such person liable to any punishment, if he proves that the offence was committea without his knowledge or that he had exercised au due diligence to preven t the commission of such offence (2)' notwithstancftng anything contained in 'sulhection (1), where so any offence under this act' has been committed by '" company and it is proved that the offence has been committed with the conaent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or otbel" omcer shall be deemed to be guilty of that 3s otrem:e and shall be liable to ~ proceeded against and punished accord-~~  ezpzcltl4tion-for the purpoaes of this section,-(4) "company" me any body corporate and includes a or· other 8i!iooiation of jndividuals; and firm (b) "director", in rt!olation to a ftrm, means a partner in the finn protection of action taken in load faith zi (1) no suit, prosecution or other legal proceeding shall ue againtt the central government or the bbarat aluminium company or any officer or other employee of that go\l'emment, or that company, or any 45 person autherised by that government or that company for anything which is in good faith done or intended to be done under this act (2) no suit or other legal proceedi government or the bharat alu " ng shall lie against the central  mmlum comp  , employee of that government th any or any officer or othet or at compan ' by that government or that com f y or any person authorised ; to be caused by anything which i:~~y or an~ damage caused or likely done under this act good f8jth done or intended to be dele,stion of powers 21 (1) the central governm t - or any of th  en may, by notiftcation, direct that all e powers exercisable by it und th' act power conferred by thi tj er s , other than the iu exercised by such pers s sec on, section 30 or section 31 may also be cation on or persons as may be specified in the notift-\ i (2) whenever any delegation of power is made under s'ub-section ( 1), the ~rson to whom such power has been delegated shall act under the direction, control and supervision of the central gov~rnment 15 30: (1) the central government may, by notification make rules for cnrrymg out the provisions of this act power to make rules (2) in particular, and without prejudice to the generality of the foregomg power, such rules may provide for au or any of the following m:tttcrs, namely:- (4) the time within which, and the manner in which an intimation shall be given to ihe commissioner under 'sub-section (3) of section 4; (b) the manner in whic~ the moneys in any provident fund or other fund referred to in sectfon 13 shall be dealt with; 25 (c) any other matter which is required to be or may be, prescribed (3) every rule made by the central government under this' act shall be laid as soon as may be after it is made, before each house ot parliament while it is in se'ssion, for a total period of thirty days which 30 ,may be comprised in one session or in two or more successive selsions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid both houres asp'ee in making any modification in the rule or both' houses agree that the rule should 'not be jmde, the 'rule shall thereafter have effect only in such modified 15 form or be of no effect, as the cac;e may be; so howeve>r, that any such modification or annulment shall ,be without prejudice to the validity of anything previously done under that rule 31 if any difficulty arises in glvmg effect to the provisions of this act, the central government mlly, bv order not inconsistent with the 40 provisions of this act, remove the difficulty:  ties provided that no such order shall be made after the expiry of a period of two' years from the appointed day [~ee sections 18, i9(1), 20(1) and 22(1)] orda 0 priorities for the diiicharge of li(bilitiii:s 01" th&  cutegof'y 1-5 employees' dues on account of  unpaid salaries and wages, contributions to be made by the company and the employees to the provident fund and employees' state insurance, premium relating to life insurance corporation of india and any other amounts due to employees, in reapeet of any period whether before or a(ter the management of the 10 aluminium undertaking had been taken over by the central government   7 ~ categoty 11-loans advanced by banks and financial institutions during the posttake over management period '5 cutegoty iii-loans ac:ivanced by the central government and state government during the post-take over management period category iv-any credit availed of for the purpose of carrying on any trading or 20 manufacturing operations during the post-take over management period category v-any other loans obtained during -the post-take over management period categoty vi-secured loans obtained during the pre-take over management period cutegory vii~ - unsecured loans or other dues to creditors in relation to' any tran saction which took place during the pre-take over management period cutegory v 111-30 revenue taxes ('esses, rates or ,other dues for tfle central government state gowrnment and loc~ authorities or state electricity board tn respe::t of any period whether before or after the management of the aluminium undertakhg 'had been taken over by the central government  , 35  statement of objects and reasonsthe aluminium corporation of india limited at j k n asan i (w be ay ay agar near ~o est ngal) is engaged in the production of aluminium and alumlojum fabricated prod~cts falling ~nder the first schedule to the industries (development and regulation) act 1951 in s t be 973 h  ,  ep em r, 1 t e undertaking of the company located at ja ka n '  ' y y agar near asansol was closed due to financial and other difficulties at the t1 f c1   me 0 osure, the undertakmg was employing abou~ 2,500 persons 2 efforts ~ere made from 1975 onwards by the central government and the government of west bengal to ,revive the undertaking, with a view to rehabilitate the' workmen adversely affected by the closure and also for augmenting the supply of alumini'uill and aluminium fabri ~ated products however, the efforts did not succeed as the entire capital of the comparly had been e~roded by the outstanding liabilities and the  management was unwilling to invest any funds in the circumstances, the management of the undertaking of the company located at jaykay nagar near asansol was taken over on the 1st may, 1978 by the cent~al government under section 18aa of the industr~s (development ,and regulation) act, 1951  - - 3 the undertaking has the facilities' for production' of primary metal and down-stream facilities for production of aluminium rolled products, extruded sections, foils and conductors which are essential to the needs of the community, particularly in the industrial and power sectors the working of the \lndertaking after the take over of its management confirmed the possibility of re-starting the facilities and of making the operation viable provided adequate funds for modernisation were injected and the management structure was reor~anised the fabrication facilities at asansol were re-commissioned in 1979 the performance of these facilities has not been very satisfactory and can be improved only by rnoderni~ation for the improvement jn the performance of the undertaking, further investment of public funds is considered necessary such investment is necessary for sec"olring the proper utilization of available facilities for production o~ aluminil~m and aluminium fabricated products' whim are essential to the needs of the community and also for securing the continued employment of the workmen empioyed in the said under~ taking it is lelt that further investment of public funds should be preceded by some arrangement which ensures continuity of management with the' government it is, therefore, proposed ·to acquire the s8td -undertaking 4 the bill seeks to achieve the above objec~ new own; n k p salve the 29th november, 1983  president's recommendation under article 117 'of the constitution of indla[copy of letter no 12/b/bi-metlv, dated the 12th december, 1~83 from shri n k p salve, minister of state of the ministry of steel and mines to the secretary, lok sabha] fb the presicient having been infonned of the subject matter of the aluminium corporation of india limhed (acquisition and transfer of aluminhlm undertaking) bill, 1983 recommends under clauses (1) and (3) of article 117 of the constitution of india, the introduction of the bill in lok sabha and also recommends to lok sabha the consideration of the bill - -  finaft'cial memorandumclause 7 of the bill provides for the payment in cash of an amount ot ~ rs 424 lakhs for vesting in the central government the right, title and interest of the company in relation to its· aluminium undertaking 2 sub-clause (1) of clause 8 of the bill provides for the payment in cash of a further -amount calculated at the rate of rs 2,500 per mensem for the deprivation of the company of the management of its aluminium· undertaking fer the period comnien~ng on the date the manage~ent ot  the aluminium undertaking was taken over by the central government and ending on the appointed day it is estimated that this amaunt will be of the order of rs 1,675 lakhs 3 sub-clause (2) of clause 8 of the bill provides for the payment of simple interest at the r-ate of 4 per cent per annum in respect i)f the amounts payable under clause 7" and sub-clause (1) of clause 8 for the - period commencing on the appointed day -and ending on the date on which the payment cf the amounts is made by the central government to the commissioner of payments_ it is estimated that tnis amount will be of the order 'of rs 142 hkhs per mensem 4 clause 14 of the bill provides for the appointment of a com~is~ sioner of payments by the central government for the purpose ot" disbursing the amount payable to tbe company this clause also provides for the appointment of !rllchother persons as it thinks fit to as!list the commissioner in the exercise of his powers under the bill under 'subclause (4) of this clause, the salaries and allowances of th~ -commissioner of payments and other persons appointed to assist him will be defrayed out of the consolidated fund of india it is estimated that this amo}l!lt will be of the order of rs 15,000 per mensem 5 funds will also have to be prov~ded by the central governm~nt for the following-(1) a sum of rs 100 lakhs to bharat aluminium company limited to which the ·undertaking is proposed to bp trimsferred as part of margin money for working capital; (ii) a -sum of rs 60 lakhs by way of equity for modernisation;  and (iii) an estimated sum of rs 370 lakhs to make good the undischarged post take-over dues of bharat aluminium company limited relating to the aluminium undertaking 6 the bill, if enacfed, is not likely to involve any other recurring or bem-recurring expenditure clau\e 30 of the bill empowers the central government to make rules to carry out the provisions of the bill the matters i" respect of whicl?- rules may be made, inter alia, relate to the time within whi~ and the manner in which intimation regarding any mortgage, charge, lien, etc, 'on the properties which have vested in the central govern  ment may be given to the commissioner of payments and the manner in which the monies in any provident fund, superannuation, welfare or other fund maintained by the company shall be dealt wttti by the central government or the bharat aluminium company 2 the matters in respect of ~hich such rules may be made are mattet'l  of procedure and adminisfrative detail the delegation of legislative power is thus of a nonnal character  a billto provide for the acquisition and transfer of the right, title and interest of the aluminium corporation of india limited in relation to its undertaking at jaykay nagar, near asansol (west bengal) for the purpoae of ensuring the continuity of production of aluminium and aluminium fabricated products which are euential to the needs of the community and thereby to give effect to the policy of the state towards securing the principles specifted in clause (b) of article 39 of the constitution (shri n k p scalve, minilter of state of the mintat'7j of steel and mine • ) 