 l0k sabha cqrri gendato "th e text! le unfj"":ir 'l"lk in ce ('llil:in g i)' t]r 0 f' tt~nj;' gehen t) bill, 1983 (in be/as introduced in 10k 8abha) 1 page 3, line f ,-!ql: "oppoin ted" ~ "appointed n 2 page 3, line 16,-" "  ' ~ "ararngement" ~ "arrangement" 3 pafp 5, line 2,-fiu: "textxile" i:ruid "textile" new deihl;  bid no 118 of 1983 ! nle textile undertakings (taking over of management) bill, 1983 a billto provide lor the it/king over in the public interest of the mdnagement of the textile undertakings of the companies specified in the fir~ schedule pending national/sation of such undertakings and for matters connected therewith or incidental thereto whereas bv reason of mismanajtcment of the affairs of the texthc undertakings specified in the first schedule, their financial condition became wholly unsatisfactory even before the commencement in jpnuary 1982 of the textile strike in bombay and their financial condition has thereafter further dcterio-5 rated;  and whereas cer~ain public financial instill'ltions havc advanced jarge s~ms' of money to the companies owning the said undertakings with a view to making the said undertakings vj~lblc; a~id whereas further "investment of very large sums of money is necessary for reorganising and rehnbilitating the said undertakings and thereby to jo 'pro~ect the interests of the workmen empjoyed therein and to augment the production and distribution at fair prices of different varieties of cloth and yarn so as to 9ubscrve the interests ~r the general public; and whereas acquisition by the central government of the said under-j5 takings is necessary to enryble it to invest such large sums of money; it is said and whereas, pending the acquisition of the said undertakings, expedient in the public interest to take over the management of the undertakings; be it enacted by parliament in the thiny-fourth year of the republic of india as follows:- chapter i preliminary1 (1) this act may be called the textile ·undertakings (taking over of mauagement) act, 1983  short title and  commencement  (2) it shall be deemed to have codle into force on the 18th day of october, j 0 198:\ 2 in this act, unless the context otherwise requires,-definitions - (a) "appointed day" means the date on which this act comes into force; , ,t (b) "custodian" means the person appointed under section 4 to take 15 over the management of the undertakings; (c) "notification" means a notification published in the official gazctte; ! (d) "textile u'ndertaking" or "the textile undertaking" means an undertaking specified in the second column of the first schedule; 20 1 of 1958 (e) "textile company" means a company (being a company as defined in the companies act, 1956) specified in the third column of the first schedule, as owning the undertaking speci~ed in the corresponding entry in the second column of that schedule; (i) words and expressions used herein and not defined but defined in 5 the companies act, 1956, shall have the meanings respectively assigned 2 1 of 1958 to them in that act 1 , - , -'  j " ,  ___ i  chapter 11 , taking over of tile management of certaintextile undertakings3 (1) on and from the appointed day, the management of all the textile  undertakings shall "e~t in the (~entral government 30 management of certain textile undertakings to vest in the centralgov-~rnment - (2) the textile undertaking shall he deemed to include all assets, rights,leaseholds, powers, authorities and privileges of the textile company in relation to tftc said textile undertak ing hnd all property, movablc and immovable, including lands huildil)gs worksho[>s, projects, stores, spares, instruments, machinery, 35 equipment, automobiles rind other vehicles, and goods under production or in transit, cash balances, reserve fund, investments and rooklets and all other rights and interests in or arising oot of such property as were, immediately before the appointed day, in the ownership, possession, power or control of the tl!xtile' company whether within or outside india and all books of actount, re~ister" and 0 all other documents of whatev'cr nature relating thereto - 4 (3) any contract, whether express or implied, (,f other arrangement, in so far as it relates to the management of the business and affairs of the textile undertaking and in (orce! immediately before the appointed day, or any order made by any court in so 'far as it relates to the'management of the business and affairs 5 01 the textile undc{taking and in force immediately before the appointed day shall be deemed to have terminated on the oppointed day (4) all persons in charge of the management, including persons holding otlices as directors, managers or any other managerial personnel, of the textile company in relation to the textile undertaking, immediately before the appointcd 10 day, shall be deemed to have vacated their offices as such on the appointed day (5) notwithstanding anything contained in any other law for the time b~ing in force no person in respe<:t of whom any contract of management or other arrangement is terminated by reason of the provisions contained in sub-section 0), or who ceases to hold any office by reason of the provl"ions contained in 15 ~ub-section (4), shall be entitled to claim any compensation for the premature telmination of the contract of management or other ararngement or for the joss of office, as the case may' be - (6) notwithstanding any judgment, decree or orde! of any court, tribunal or  other authority or anything contained in any other law (other than this 20 act) for the time being in force, every receiver or other person in whose  possession or custody or under whose control the textile undertaking or any part thereof may be immediately before the appointed day, sball, on the commence~ ment of this act, deliver the possession of the said undertaking or such part thereof, as the case may be, to the custodian, or where no custodian has 25 been appointed, to such other person as the centr~l government may direct (7) for the removal of doubts, it is hereby declared that any liability incurred by a textile company in relation to the textile undertaking before the appointed day shall be' enforceable against the concerned textile company and not against  the central government or the custodian custodian of the textile undertakings so 4 (1) the central government may, as soon as it is convenient administratively so to do, appoint any person or body of persons (including a government company, whether in existence at the commencement of this act or incorporated thereafter) as a custodian of the textile' undertaking for the purpose of c8uying on the management of such undertaking and the custodian so appointed 35 shall carry on the management of the textile undertaking for and on behalf of the central government (2) on the appointment of a custodian under sub-section (1), the management of the textile undertaking shall vest in such custodian and all persons in <:harge of the management of such undertaking immediately before such appoint-40 luent shall cease to be in charge of such management and shall be bound to deliver such management to the custodian (3) the central government may, by notification, authorise the custodian to appoint any person (including a governmeftt company, whether in existence at the commencement of this act or incorporated thereafter) as the additional 45 custodian of the textile undertaking (4) the additional custodian shall assist the custodian in the exercise of his or its powers and duties under this act and shall function under the direction, supervision and control of the custodian; and the custodian may dclt:gate to the additional custodian all or such of his or its powers as be or it nuly think fit (5) subject to any general or special direction given or condition imposed  by the custodian, any person authorised by· the custodian to exercise any power may exercise that power in the same manner and with the same effect 5 as if it had been conferred on that person directly by this act and not by way of authorisation (6) the central government may issue sucb directions (including directions  as to initiating, defending or continuing any legal pt'oceedings before any court, tribunal or other authority) to the custodian as to his or its powers 10 and du~ies 'as tbi? ccntral government deems to be desirable in the circumstances of the case, and the custodian may also apply to the central governmerit at aily time for instructions as to the manner in which he or it shall conduct the managemeat of the textile undertaking or in relation to any other matter arising in the course of sucb management 15 (7) subject to the other provisions of this act and the control of the central government, ~he custodian shall be entitled, notwithstanding anytiling contained in the  companies act, 1956, to exercise au the powers, in 1 of 1" rl!lation to the textile undertaking, of the board of directors of the textile company (including the power to dispose of any properties or assets of tbe 20 textile company) whether such powers are derived from the comp8dies act, 1956, or from the memorandum and articles of association of the concerned textile company or from any other source (8) every person having possession, custody or conl!ol of ·any property forming part of the ~xtile undertaking shall deliver forthwith such property to the custodian or to any officer or other employee  of the oeatr81 ~emment 25 or the custodian, as may be authorised by the central gevemmeat or tbe custodian in this behalf: (9) any pers~ who, on the appointed day, has in bis possesllion or udder his control any boob,· papers or other documents relating to the textile under- 3~ taking the management of which has vested in tbe ceotral government under this act, sball, notwitbstanding anything contained in any other law for the time being in force, be liable to acco~ for me books, pape1'8 and other documents (including sucb minutes books, cheque boob, jetter, memoranda, notes or otber communications) to the custodian anc:it shall deliver them up to 35 the custodian or to any such person (being an officer or other employee of· the central government or the custodian) as may be authorised by the central government cjc the custodian in this behalf (10) every person in charge of the management of any textile undertakina immediately before the appointed day shall, witbin ten days from that day or 40 within sucb further period as the central government may allow in this behalf, furnish to the custodian a complete inventory of au the properties and assets (including particulars of book debts and investments and belongings) forming part of the undertaking immediately before the appointed day and of all the liabilities and obligations of·the textile company in relation to the under- 45 taking, subsisting immediately before that day, and also of all agreements entered into by such textile company in relation to the undertaking and in force immediately befpre that day (11) the custodian add the additional custodian shall receive from the tunus of the texlxile undertakings such remuneration as the central government may fix payment of amount s (l) every textile compouy shall be given by tile ee govenillle1k 5 a - aoaot, ill calli, iiiid  j'8te spedhd  sub sedlda (2), fer tile vest inti in it, under sectioa 3, of tile _  of die  ~ 01 the company (1) for every month during which the management of the textile undertakiog remains vested in the central government un~er this act, the amount, 10 referred to in sub-section (1), shall be computed-(;) for a spinning unit, at the rate of fifly paise per 1,000 spindles or any part thereof; (ii) for a weaving unit, at the rate of one rupee per 100 looms or any part thereof; 15 (iii) for a composite unit with or: witilout dye-house at the rate o~  fifty paise per 1,000 spindles or any part thereof plus one rupee per 100  looms plus one paisa per 10,000 metres of cloth processed in the dyehouse based on the average monthly j>roduction during the period of three years immediately preceding the appornted day; -lzo (iv) for a wholly processing unit (being a unit which does not have any spindle or loom),· oile paisa per one thousand square metres or any part utereof of the average of the total quantity of textiles pcooessed during the period of ~cc years immediately preceding the appointed day in such unil  chapter iii power to provide relief to the textile undertakings6 (1) the central government may, if satisfied,' in relation to any of the textile undertakings or any ~ thereof, the manaje8lent of which bas vested! id it under this act, that i~ is necessary so to do in the interests of the 30 general publi~ with a view to preventing any fall in the volume of production of such undertaking, by notification, declare that-power ot the central governmentto makecertain dec-s5 (a) all or any of the enactments specified in the second scpedule shall not apply or shall apply with such adaptations, whether by way of modificatiod, addition or omisaion (which does not, however, affect' the policy of the said enactments) to s~h undertaking as may be specified! in such notification, or larati~ in relation to certain  ' textile"  undertakin, 5 (b) the operation of all or any of the contracts, assurances of :property, agreements, settlements, awards, standing orders or other instruments in force (to which such textile undertaking or the textile c0mpany owning such undertaking is a party or which may be applicable to such textile undertaking or textile company) immediately before the date of issue of the notification shall remain suspended or that au or any of the rights, privileges, obligations and liabilities accruing or arising thereunder before the said date, shall remain suspended or shall be enforceable subject to such adaptations and in such  manner as may be specified in tbe notification (2) the notification made under sub-section (1) shall remain in force,· in tho first instance, for a period of one year but the duration of such notification may be extended from time to time by a further notification by a period not exceeding one year at a ~me:  provided that no such notification sball, in any case, remain in force after 5 the expiry of three years from the c~mencement of this act (3) any notification made under sub-section (1) shall have effect n9jwitbstanding anything to the contrary contained in any other law, agreement or instrument or any decree or order of a coun, tribunal, officer or other authority or in any submission, settlement or standing order 10  ( 4) where by virtue of a notification under clause (b) of sub-section (1), any right, privilege, obligation or liability remains suspendod or is enforceable subject to the adaptations and in the manner specified in the ndtificati·on, all proceedings'relating thereto pending bcfore any court, tribunal, officer or other authority shall accordingly remain stayed or be subject to such adaptations, as l!i the case may be; so however, on the notification ceasing to' have effect-(a) such right, privilege, obligation or liability shall be enforceable as if the notification had never been made;  - (b) any proceeding so remaining stayed shall be proceeded with subject to the provisions of any law which may be then in force, from the stage 211 which had been reached when the· proceeding became stayed  (5)' in computing the period of limitation for the enforcement of any right, privilege, obligation or liability referred to in clause (b) of sub-section (1), the period during which, it or the remedy fat the enforcement thereof remained suspended shall ~ excluded - 25  chapter iv m1scellaneous7 the provisions of this act or any notification, order or rule made thereunder shall have effect notwjthstandinl' anything inconsistent therewith contained in any law (other than this act) or in any instrument having effect by 3(1 virtue of any law other than this· act or in any 4ecrce or order of any court  act to have overridida effect 8 (1) so long as ,the management of the textile undertaking of a textile application of' act 1 of 1  comp~ remains vested in the central government under this 'act, notwithstanding anything contained in the companies act, 1956 or in the memorandum or articles of association of such company,- 35 (a) it shall not be lawful for the shareholders of the textile company or any other person to nominate or appoint any person to be a director of such textile company in relation to such undertaking; (b) no resolution affecting (whether directly or indirectly) such undertaking which is passed at any meeting of the shareholders of the textile 40 company on: or after the appointed day shalt be given effect to unless approved by the central government; (e) no proceeding for the windirig up of the' textile company or for: the appointment of a liquidator or re'ceiver in respect thereof shall lie in any court except with the consent of the central government 45 (2) ~u~ject to the provisions contained in sub-section (1), and to tbe othe~ ~rovjslons c~nt~incd in this act and subject to such othcr exceptions, 1 of 1956 r~9tnctlons and limitations, if any, as the central government may by notification, speci~y in this behalf, the companies' act, 1956, shall conti~ue to apply 5 to the textile compaities in the same manner as it applied thereto before tbe appointed day 9' in computing the period of limitation prescribed by any law for the time being in 'force for any suit or application against any person by any of the texti~e companies in respect of any matter arising out of any trads~ction in 10 relation to its textile undertaking, the time during which this act remains' in force shall, be excluded exclusion of period of operation of this act from limitation 10 (1) no suit, prosecution or other legal proceeding shall lie against the central government or the custodian or the additional custodian or any officer or other employee of the central government or the custodian for any'" 15 thin, which is in gooa faith done of intended to be done under this act protection of action taken in good faith (2) no suit or other legal proceeding shall lie against the ceb1ral government or the 'custodian or the additional custodian or "any of the officers or other employees of the central government or the custodian for any damage caused or likely to 'be cause" by anything which is in good faith done or in-20 tended to be' done under this act contracts, etc, in bad faith maybe cancelled or varied 11 (j) if the central government is satisfied after such inquiry as it may think proper, that any contract or agreement entered into at any time within three years' immediately preceding the appointed day between any d  the textile companies or manal:!inl! or other director of any such textile com-; 25 pany and any other person in relation to any service, sale or supply to, or by its textile undertakinlz and in force immediately before the appointed day, has been entered into in bad faith or is detrimental to the interests of the textile tindertaking of the concerned textile company it may make within one hundred and eighty days· from the appointed day, an order cancelling or 30 varying (either unconditionally or subject to such conditions as it may think fit to· impose) such contract or agreement and thereafter the eontract or agreement shall have eft'ect accordingly: provided tha't no contract or allreement shall be cancelled or varied ex:· cept after giving to the parties to the contract or agreement a reasonable op-35 portunity of being heard (2) any person aggri~ved by an order made under sub-section (1) may make an application to the principal civil court of original juri~iction within the local limhs of whose jurisdiction the registered office of the concerned textile coi,llpany is situated ,for the variation or reversal of such order and 40 thereupon such court may confirm, modify or reverse such order avoidance of voluntary transfers 12 any transfer of property movable or immovable or any delivery of good); made by or on behalf of an~ of the textile c?mp:lnies· (no~ being a transfer or delivery made in the ordmary course of its busmess or 10 favouf of a purchaser for valuable consideration and in good faith), if made within 45 a period of six months immediately precedin!!: the appointed day shall be void agaimt the central government or the custodian, ~s the c;a!;e may be, powertu terminate contracbl of em-~ ployment 13 if the custodian is of opinion that any contract of employment entered into by any textile company or managing or other director of the company in relation ,to its textile undertaking at any time before; 'the appointed day is unduly onerous, hc or it may, by giving to the employee one month's notice in writing or salary or wages ,for one month in lieu thereof, terminate such 5 contract of employment p~na1tiea 14 (1) any person, who-(a) having' in his possession or custody or under his control any property fonning part of any of the textile undertakings, wrongfuny withholds such property from the custodian or any person authorised 10 under this act, or (b) wrongfully obtains possession of any such property, or - (c) wilfully retains any property forming part of such textile undertaking or removes or destroys it, or (d) wilfully withholds from~ or fails to deliver to the custodian or· 15 any person authorised wldcr this act, any books, papers or other documents relating to such textile undertaking which may be in his possession, power or custody or under his control, or '  (e) fails, without any reasonable excuse, to furnish information ~ particulars as provided in section 4 sto shall be· punishable with imprisonment for a term which may extend to two years, or with fine which may extend to ten thousand rupe'es or with both (2) no court shall take cognizance of an offence punishable under this section except with the prevfous sanction of the central government or an officer authorige~ by that government in this behalf 25 offences })yearnpames is (1) where an offence under this act has been comiriitted by a company, every person who, at the time the offence was committed, was in charge of, and wa'l responsible to, the company for the conduct of the business of the company 8!; well as the company, shall be deemed to be guilty of the offence and shall be lia'b1e to be proceeded' against and punished accordingly:  30   provided that nothing contained in this sub1ection shall render any sucll person liable to any punishment, if he proves that the offence was committed without his knowledge and tha~ he had exercised all due diligence to prevent the commission of' such offence (2) notwithstanding lil)1hing contained in sub-section (1) where an offen- 35 ce under this act has been committed by a company and it is pro\(edthatthe offence has been committed with the consent or connivance of or is attributable 'to, any neglect on the part of any director, manager, secretary or other (jfticer of the company, such director, manager, liecretary or qtber ofticer shatt be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly 40 explanmion-for'the purposes of this ~ection-(a) "company" means any body corporate and includes a firm or other association of individuals; and (b) "director" in rel~tloj1 to a finn! means a partner in the ftrm 45 16 (j) the central ~cftt mar, by notification, carrying out the provisions of this act make: rules for power to make rules (2) every rule made by the centra! government under this act shall be laid, as soon as may be after it is made, before each house of parliament 5 while it is in session for a total period of thirty days which may be comprised! in one session or in two or more successive sessions, and if, before the expiry of the session immediately following the session or the successive sessions aforesaid both houses agree in making any modification in the rule or both heuses agree that the rule should not be made, the rule shall thereafter have 10 t"fl'c(1 only in such modified form or be of no effect, as the case may be; so, however, that any such modification or annulment shalt be without prejudice to the validity of anything previously done' under that rule 10 of 1983 17 (j) the textile undertakings nance, t 983 is hereby repealed (taking over of management) ordi-repeal and - saving 15 (2) notwithstandin~ ~uch repeal anything done or any action taken under the said ordinance shall be deemed to have been done or taken under the corresponding provisions of this act  the first schedule[st't' section 2 (d) and (t')j - ---'--"-"--- _ __  _____------ - ----nam" or th  ow~r | th ell'hinstonl' spinning    | ajl(l          ||--------------------------------|----------------|| \\'i'pv:,,1!'                  |                || ]i,rwr                        | ron           || vd                             |              || kalwuli f:luamberll           |                || 3!1                           |                || ra~ii                          |                || dhai                           |                || kamani                         |                || l\hrg                         | b'lmbay·:18 - || i                              |                || elnll:mtont' sninnin; nn'   |                || wl"avirut                      |                || mill                           | ••             || ~                              |                || roa"                          |                || bomb:l)"                      |                || 21                            |                || !i                             |                || p:nlay                         |                || miii~                         |                || lo/it                         |                || dr                            | ss            || r:to                           | roacl         || b'lmbar·                       |                || ti                          |                || finlay                         |                || mills                          |                || iic1                        |                || cbartc,d                     |                || bank                           |                || b'lilrling                    |                || port                          |                || b'liilb'l)"·23'              |                || :1                             |                |('olcl mflh'l" mills, d,d<\!i8b,b ti,,,, o  1d mflhur mills 11" • cbarlt'r"d bank build· pb'\lke r'l'lcl dach!', b')mbay· illg' port, bombay·!!'3· 30 4 5 th" tam m"ntuacturinlt 'r:, i>cl r'dbaug pai'f'i, b')mmy·12 til" k'll,i'n'lr mills c, r'ri • k,itli,k hoil''' charan· iit rai marg (homl' strt'l't) fort bomba}·i | lam       | m"nufactll"i!ul'    ||-----------|---------------------|| lalb:lug |                     || pa~i     |                     || b'lmbay  |                     || kohinoor  | mills               || (~n      |                     || i)       |                     || nftitraum |                     || cro!ls    | r'll\cl d:thr    |the kohinoor miii~ co itd  k;u:,k homt' charanjit rai marg (hom- stl'l"l"i) port bombay-i: 6 35 7 ~ kohinoor mill, co ihl killiclr homc' clutran-jit rai marg (horne st~t) fort bombay-i - bomba~· - lcohinoor mills (no2) - naijt&um crqll~ roan dacjmr, bombay 1c0hinoor mills (no <t), j~cly ' tam'lhl"c!ii roa" d"1chr: b'lmbay - 40 8 th, n,w city or bombav manurlocturinj\' ce> ltd 63 tukaram bhisaji kadam path, bombay·33· 9 ~ poctar miji, ltc!  portar chamh"r~, s),('cl abdulla brelvi r')8d fort, b'jmbayo i 41) if) th~ podar miii~ ttd • ptldl'r chl!mb«-r~ s}tl abdulla brclvi road, fort bombay·1 ~"w city of rombny mllnu· faetltring milll, g~ tuka'am ' b kadam marg btlmbay poclar mml, nm joihi marg, bomba}'  po(lar mill, (prncl'~s hnll~r) ganl)llt rao kadam marg bombay  ~ ii sh-re mllclhuudan mills i!(! 31 chowringhec rna" calcutta-i/} 50 iii sill"'''' silaram mills ilc1 x ~{ joshi marg b'jmbay'i i 13 ~h~ madhu~uc\an mitl~ pmn· d\trang' blldhkar marg bombay sh-f'e sitaram m:l\s ~m joihi marg jhmbay tata mitis dr i\mbec\kar road, d'dar, bombay th~ tata mills jtd • bomhw hou~ 114, homi mody street, fort bombay·2!2 ---------------------- the second schedulb( see section 6 ) 20 of 1948 1 the industrial employment (standing ordc"rs) act, 1946 14 of 1947 2 the industrial disputes act, 1947 11 of 1848 3 thc minimum wages act, 1948 the textile undertakings (taking over of management) ordinance, 1983 was promulgated by the president on 18th october, 1983 to vest in the central government the management of thirteen textile undertakings, pending their nationalisation by reason of mismanagement of the affairs of these undertakings, their financial condition which became wholly unsatisfactory even before the commencement in january, 1982 of the textile strike in bombay further deteriorated thereafter certain public financial institutions had, with a view to making the said undertakings viable, advanced large sums of money to the companies owning these undertakings further investment of very large sums of money was found to be necessary for reorganising and rehabilitating the said undertakings and thereby to protect the interests of the workmen employed therein and ,to augment the producti'jn and distribution at fair prices of different varieties of cloth and yarn so as to subserve the interests of the general public government considered the nationalisation of the said undertakings to be necessary to enable it to irvest such large sums of money and safeguard other interests once the basic decision of nationalisation was taken, a genuine apprehension arose in government's mind that unless the management of the cod-cerned undertakings was taken over on immediate basis, there might be large iicale frittering away of assets which would be detrimental to the public interest it thus became urgently necessary for government to take over management of the undertakings in the public interest as parliament was not in session at that time and every day~s delay could have had serious repercussions, the afore-mentioned ordinance w~ promulgated 2 the bill seeks to replace the said ordinance new delhi; the 12th november, 1983 vishwanath pratap singh ¥  president's recommendation under article 117 of the constitution of india[copy of letter no 7 (5) 183-cp, dated the 15th no~mber, 1983 from shri vishwanath pratap singh, minister of commerce ,to the secretary, lok sabha] the president having been informed of the subject matter of the textile undertakings (taking ,over of management) bill, 1983, recommends under clause (1) of article 117 of the constitution of india, the introduction of the said bill in lok' sabha and also recommends under clause (3) of article 117, the consideration of the bill by lok sabha trhcfer the textile trildettakih~ (tilklnga\r~" of manaltnent) bill, l~;powers are stnight by the' central govenunent foreorttlnl'dnl to mit\"ate 13 te)rtn~ un"der'tatdrtgs the trr8l'ia'g'etnettt of wmdi -;jiifs taken ovc'r uitder" tlre~le ~ntt~ngs (1'atihg' over of martagt!taent) otdina'nce; 1983; pendtng their nathmaltsatfon 2 clause 5 of the bill provides for the owner of every textile 'uddertaking, being, given by the central government an amount in cash, for the, vesting in it the management of the textile undertaking collcemecl however, the amount so payable is not lik-ely to' exceed ri "30000 pel' annum ~i; money will hav'@ tb' be provided to thee mills fot their working capital as wel1 as tnodernisation the ir!l1tiediate, r8q'l1irernent 01 funds for working capital for these mills bas been e'stimated at' about rs 15 crares but the requirements under thisl'iebd'in respect of thesubsequem phas~s of running the "units w~ibe kno~ only after watebtng the actual tempo of prod-action in the undertakings as and 'when it picks up as regards  the modemjsation reqniiimlents, it has been estimated that the fwtds required for not only repl~nt or r'e1'iovation of existing ma· chinery, etc, but also adoption of mon!' adva1'lced t'eehngton in spinning, weaving and processing will tie about its 148 ctore spread ovel"a pertod of four years commencing front 1984-8's: 4: as mentioned in the long title of the bill; the managewumt of! these ~lls is to be taken fiver peii'itting thetr liattoftausauen '!'lie amounts to be so paid have yet to be assessed 5 the mills whose ma-nllgemellt has been taken over require fnodt"rnisation befe-re ~y can become financially viable during the initial period till the modernisation programme is completed, the uild~rtak1ngs are liable to incur losses, which may have to be recouped by tlie" govern,; ment the exact quantum of losses eadftot be estimated at pn!sent  memorandum regarding delegated legislationclause 16 of the bill empowers the central government to make rules to carry o'ut the provisions of the bill such power would enable the centrr-t government to ~ake rules with regard to matters at procedure and administrative detail, waieh is not practicable to provide for in the bill itself the delegation of legislative power is, therefore, of a normal character  a billto provide for the taking over in the public interest ot the jil8iiaieiileilt ot the textile undertaldnp ot the companies lpecifled in the firat schedule pending nationalisation of ueh undertakinp· and for matters connected therewith or incidental thereto (shn vuhwguth l'nltap smgh, iiinibter of comtrraere«) 