The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
No. 352] NEW DELHI, MONDAY, SEPTEMBER 8, 1975/BHADRA 17, 1897
Separate paging is given to this Part in order that it may be filed as a separate compilation
MINISTRY OF INDUSTRY AND CIVIL SUPPLIES (Department of Industrial Development) ORDER
New Delhi, the 8th September 1975
S.O. 485(E)/18AA/IDRA/75.—Whereas the Central Government is satisfied, from the documentary and other evidence in its possession, that the persons in charge of the industrial undertaking known as Messrs. Ancillary Industries (Cranks) Private Limited, Calcutta, have, by creation of incumbrances on the assets of the industrial undertaking and by diversion of funds, brought about a situation, which is likely to affect the produc- tion of articles manufactured or produced in the industrial undertaking, and that imme- diate action is necessary to prevent such a situation;
Now, therefore, in exercise of the powers conferred by clause fa) of sub-section (1) or section 18AA of the Industries (Development and Regulation) Act, 1951 (65 of 1951), the Central Government hereby authorises the Industrial Reconstruction Corporation of India Limited (hereinafter referred: to as "the authorised person") to take over the management of the whole of the said industrial undertaking subject to the following terms and conditions, namely :—
(i) The authorised person shall comply with all the directions issued from time to time by the Central Government;
(ii) The authorised person shall hold office for a period of five years from the date of publication of this Order in the Official Gazette;
(iii) 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 five years commencing from the date of its publication in the Official Gazette.
2026 THE GAZETTE OF INDIA EXTRAORDINARY [PART IT—SEC. 3(ii)]