The Gazette of India
EXTRAORDINARY
PART II~Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 476] NEW DELHI, FRIDAY, NOVEMBER 3. 1972/KARTIKA 12, 1894
Separate paging is given to this Part in order that it may be filed
as a separate compilation
MINISTRY OF INDUSTRIAL DEVELOPMENT
ORDER
New Delhi, the 3rd November 1972
S.O. 695(E)/18AA/IDRA/72.—Whereas the Central Government is satisfied from the documentary evidence in its possession that the persons in charge,of the industrial undertaking known as Messrs Ganesh Flour Mills Company Limited, Delhi, have, by reckless investments and creation of incumbrances on the assets of the industrial undertaking, brought about a situation which is likely to affect the production of articles manufactured in the industrial undertaking, and that immediate action is necessary to prevent such a situation;
Now, therefore, in exercise of the powers conferred by sub-section(1) of section 18AA of the Industries (Development and Regulation) Act 191 (65 of 1951), the Central Government hereby authorises the Industrial Reconstruction Corporation of India Limited, Calcutta (hereinafter referred to as the "autho- rised person") to take over the management of the said industrial undertaking, 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;
I870 THE GAZETTE OF INDIA EXTRAORDINARY {PART It—SEC. 3(11)] (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; (111) the Central Government may terminate the appointment of the authorised person earlier, if It considers necessary to do so,2, This order shall have effect for a period of ftve years commencing from the date of its publication in the Official Gazette.
[Na Fi 4/12/72-CUC] K, S. BHATNAGAR, Jt. Secy.