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The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 50] NEW DELHI, TUESDAY, JANUARY 25, 1972/MAGHA 5, 1893

Separate paging is given to this Part In order that it may be filed as a separate compilation

MINISTRY OF INDUSTRIAL DEVELOPMENT (Department of Industrial Development) ORDER New Delhi, the 25th January 1972

S.O. 66(E)/18 AA/IDRA/72 (1).—Whereas the Central Government is satisfied from the documentary evidence in its possession—

(i) that the industrial undertaking owned by the Netha Co-operative Spinning Mills Ltd., Hyderabad, has been closed for a period of not less than three months; and

(ii) that such closure is prejudicial to the concerned scheduled industry, namely, the cotton textile-industry and that the financial condition of the said company and the condition of the plant and machinery of the undertaking of such company at Hyderabad are such that it is possible to restart the undertaking and such restarting is necessary in the interests of the general public;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 18AA of the Industries (Development and Regulation) Act, 1951 (65 of 1951), the Central Gov- ernment hereby authorises the National Textile Corporation (hereinafter referred to as 'the authorised person') to take over the management of the whole of the undertaking of the Netha Co-operative Spinning Mills Lt'd. Hyderabad, subject to the following terms and conditions, namely :—

(i) the authorised person shall comply with all directions issued from time to time by the Central Government;

(ii) the authorised person shall hold office lor a period of. five years from the date of publication of this order in the official gazette; and(iii) the Centra] Government may terminate the appointment of the authorised Per- son earlier, if it considers it necessary to do so. 2, This Order shall have effect for a period of five years commencing from the date of its publication in the Official Gazette {No. F. EC-25(17)/72.] K. S BHATNAGAR, Jt. Secy. ( 181 )