LawgistThe British India Corporation Limited (Acquisition of Shares) Act
8Claims 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 date:
Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from preferring theclaim 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.
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ACQUISITION OF THE SHARES OF THE COMPANY
- 3 Transfer and vesting of shares of the Company in the Central Government
- 4 Management of the Company
- 5 Payment of amounts
- 6 Appointment of Commissioner of Payments
- 7 Payment by the Central Government to the Commissioner
- 8 Claims to be made to the Commissioner
- 9 Examination of claims
- 10 Admission or rejection of claims
- 11 Disbursement of money by the Commissioner to claimants
- 12 Undisbursed or unclaimed amount to be deposited to the general revenue account
- 13 Power of inspection
- 14 Power of Commissioner to inquire into disputes as to amount
- 15 Deposit of amount in court
