Lawgist28Penalties
Any person who,--
(a) having in his possession, custody or control any property forming part of the undertakings owned by any jute company, wrongfully withholds such property from the Central Government or the Jute Manufactures Corporation; or
(b) wrongfully obtains possession of, or retains any property forming part of, the undertakings owned by any jute company; or
(c) wilfully withholds or fails to furnish to the Central Government or the Jute Manufactures Corporation or any person or body of persons specified by that Government or Corporation, as the case may be, any document or inventory relating to the undertakings, owned by any jute company, which may be in his possession, custody or control; or
(d) fails to deliver to the Central Government or the Jute Manufactures Corporation or any person or body of persons specified by that Government or Corporation, any assets, books of account, registers or other documents in his possession, custody or control relating to the undertakings owned by any jute company; or
(e) wrongfully removes or destroys any property forming part of the undertakings owned by any jute company or prefers any claim under this Act which he knows or has reason to believe to be false or grossly inaccurate,
shall be punishable with imprisonment for a term which may extend to two years and also with fine which may extend to ten thousand rupees.
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- 1 Short title
- 2 Definitions
- 3 Transfer to, and vesting in, the Central Government of the undertakings of the jute companies
- 4 General Power of vesting
- 5 Jute companies to be liable for certain prior liabilities
- 6 Power of Central Government to direct vesting of the undertakings of the jute companies in Jute Manufactures Corporation
- 7 Payment of amount
- 8 Payment of further amount
- 9 Management, etc., of the undertakings of the jute companies
- 10 Duty of persons in charge of management of the undertakings to deliver all assets, etc
- 11 Duty of persons to account for assets, etc., in their possession
- 12 Continuance of employees
- 13 Provident fund and other funds
- 14 Appointment of Commissioner of Payments
- 15 Payment by Central Government to the Commissioner
- 16 Certain powers of Central Government or Jute Manufactures Corporation
- 17 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
- 22 Disbursement of amounts to the jute companies
- 23 Undisbursed or unclaimed amounts to be deposited with the general revenue account
- 24 Act to have overriding effect
- 25 Assumption of liability
- 26 Management to continue to vest in certain persons until alternative arrangements have been made
- 27 Contracts to cease to have effect unless ratified by the Central Government or Jute Manufactures Corporation
- 28 Penalties
- 29 Offences by companies
- 30 Protection of action taken in good faith
- 31 Delegation of powers
- 32 Power to make rules
- 33 Power to remove difficulties
