Lawgist16GApplication of Act 1 of 1956
1[16G. Application of Act 1 of 1956.--(1) Where the management of a tea undertaking or tea unit owned by a company has been taken over by any person or body of persons authorised by the Central Government under this Act, then, notwithstanding anything contained in the said Act or in the memorandum or articles of association of such company,--
(a) it shall not be lawful for the shareholders of such company or any other person to nominate or appoint any person to be a director of the company;
(b) no resolution passed in a meeting of the shareholders of such company shall be given effect to unless approved by the Central Government;
(c) no proceeding for the winding up of such company of for the appointment of receiver in respect thereof shall lie in any court except with the consent of the Central Government.
(2) Subject to the provisions contained in sub-section (1), and to the other provisions contained in this Act, and subject to such other exceptions, restrictions and limitations, if any, as the Central Government may, by notification in the Official Gazette, specify in this behalf, the Companies Act, 1956 (1 of 1956), shall continue to apply to such company in the same manner as it applied thereto before the issue of the notified order.]
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1. Ins. by Act 75 of 1976, s. 2 (w.e.f. 11-6-1976).
- 16A Definitions
- 16B Power to cause investigation to be made in relation to a tea undertaking or tea unit
- 16C Power of Central Government on completion of investigation
- 16D Power of Central Government to assume management or control of tea undertaking or tea unit in certain cases
- 16E Power to take over tea undertaking or tea unit without investigation under certain circumstances
- 16F Contracts in bad faith, etc., may be cancelled or varied
- 16G Application of Act 1 of 1956
- 16H Power of Central Government to cancel notified order under section 16D or 16E
- 16 Tea nurseries
- 16J Power of Central Government to make certain declarations in relation to tea undertakings or tea unit
- 16K Power of Central Government to call for report on the affairs and working of a managed tea undertaking or tea unit
- 16L Preparation of an inventory of the assets and liabilities and list of members and creditors of managed tea undertaking or tea unit
- 16LL Debts incurred and investments made by the authorised person to have priority
- 16M Bar of suits and other proceedings in relation to the tea undertakings or tea units
- 16N Rules made under Act 65 of 1951 to apply
