LexThe HE SUPER CLAYS AND MINERALS MINING COMPANY (PRIVATE) LIMITED (ACQUISITION OF UNDERTAKINGS) ACT, 1983
Kerala · state statute
Open in Lexace · Ask the AI about this actACT 3 OF 1984
THE SUPER CLAYS AND MINERALS MINING COMPANY (PRIV ATE)
LIMITED (ACQUISITION OF UNDERTAKINGS) ACT, 1983 *
An Act to provide for the acquisition and transfer of the undertakings of the Super
Clays and Minerals Mining Company (Private) Limited, with a view to securing
the proper management of such undertakings so as to subserve the interests of
the general public by ensuring the continued production and distribution of
china clay which is essential to the needs of the economy of the State, and for
matters connected therewith or incidental thereto.
Preamble.—WHEREAS the Super Clays and Minerals Mining Company (Private)
Limited has at present the ownership of, and control over, a significant portion of the
china clay produced in the State and marketed and distributed in India;
AND WHEREAS the production of china clay by the Company had stopped from
the year 1975 resulting in fall in production of the china clay which is essential to the
needs of the economy of the State;
AND WHEREAS the Company was not in a position to pay wages to its workers
in consequence of which it declared a lay-off with effect from the 13th January, 1975,
resulting in the unemployment of about six hundred workers directly employed in the
undertakings of the Company;
AND WHEREAS the Government of Kerala with the consent of the share holders
of the Company, took over the management of the Company and declared the
Company as a relief undertaking under the provisions of the Kerala Relief
Undertakings (Special Provisions) Act, 1961 (6 of 1962), with effect from the 2 nd
March, 1976, and entrusted the management of the Company to the Kerala State
Industrial Enterprises Limited which is a Government Company;
AND WHEREAS it is expedient in the public interest to acquire the undertakings
of the said Company to ensure that the interests of the general public are served by
the continuance, by the undertakings of the Company, of the production and
distribution of china clay which is essential to the needs of the economy of the State;
BE it enacted in the Thirty-fourth Year of the Republic of India as follows:—
CHAPTER I
PRELIMINARY
1. Short title and commencement. —(1) This Act may be called the Super Clays
*Received the assent of the President on the 5th day of January,1984 and published in the Kerala
Gazette Extraordinary No. 28 dated 7th January, 1984.
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and Minerals Mining Company (Private) Limited (Acquisition of
Undertakings) Act, 1983.
(2) It shall be deemed to have come into force on the 5th day of
November, 1983.
2. Definitions.— In this Act, unless the context otherwise requires,—
(a) "appointed day" means the date of commencement of this Act;
(b) "Commissioner" means the Commissioner of Payments appointed
under Section 14;
(c) "Company" means the Super Clays and Minerals Mining Company
(Private) Limited, being a company within the meaning of the Companies Act,
1956 (Central Act 1 of 1956) and having its registered office at Cannanore;
(d) "Custodian" means the person or body of persons appointed as
Custodian under sub-section (2) of section 8;
(e) "Government Company" means the Government Company in which
the undertakings of the Company are directed to vest under section 6;
(f) "Hindustan China Clay Works" means the concern known under the
name and style "Hindustan China Clay Works, Pappinissery" and includes the
proprietors or owners thereof;
(g) "prescribed" means prescribed by the Government by rules made
under this Act;
(h) "specified date" means such date as the Government may for the
purpose of any provisions of this Act, by notification in the Gazette, specify,
and different dates may be specified for different provisions of this Act;
(i) words and expressions used herein and not defined, but defined in
the Companies Act, 1956 (Central Act 1 of 1956), shall have the meanings
respectively assigned to them in that Act.
CHAPTER II
ACQUISITION AND TRANSFER OF THE UNDERTAKINGS OF THE
COMPANY
3. Transfer and vesting in the Government of the undertakings of the
Company.—On the appointed day, the undertakings of the Company, the right,
title and interest of the Company in relation to its undertakings and, save as
otherwise expressly provided in this Act, the liabilities of the Company in
relation to its undertakings, shall, by virtue of this Act, stand transferred to, and
shall vest, in the Government.
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4. General effect of vesting .—(1) The undertakings of the Company shall
be deemed to include—
(a) all assets, rights, lease-holds, powers, authorities and privileges, and
all property, movable and immovable, including lands, buildings, workshops,
stores, instruments, machinery and equipment, cash balances, cash on hand,
cheques, demand drafts, reserve funds, investments, book debts and all other
rights and interests in, or arising out of such property as were immediately
before the appointed day in the ownership, possession, power or control of the
Company.
(b) all properties, rights and interests of the Hindustan China Clay Works
purported to have been transferred to the Company by the Memorandum of
Agreement made on the 2 nd day of January, 1973, between the Hindustan
China Clay Works and the Company; and
(c) all books of account, registers and all other documents of whatever
nature relating to the undertakings mentioned in clauses (a) and (b).
(2) Every mortgagee of any property which has vested under this Act in
the Government and every person holding any charge, lien or other interest in,
or in relation to, any such property shall give, within such time and in such
manner as may be prescribed, an intimation to the Commissioner of such
mortgage, charge, lien or other interest.
(3) For the removal of doubts, it is hereby declared that the mortgagee of
any property referred to in sub-section (2) or any other person holding any
charge, lien or other interest in, or in relation to, any such property shall be
entitled to claim, in accordance with his rights and interests, payment of the
mortgage money or other dues, in whole or in part, from the Government or,
where the undertakings of the Company are directed under section 6 to vest in a
Government Company, from that Government Company.
(4) Any licence or other instrument granted to the Company in relation to
any undertaking which has vested in the Government under section 3 at any
time before the appointed day and in force immediately before that day shall
continue to be in force on and after such day in accordance with its tenor in
relation to and for the purposes of such undertaking, and, on and from the date
of vesting of such undertaking under section 6 in a Government Company, such
Government Company shall be deemed to be substituted in such licence or
other instrument as if such licence or other instrument had been granted to such
Government Company and that Government Company shall hold it for the
remainder of the period for which the Company would have held it under the
terms thereof.
(5) If, on the appointed day, any suit, appeal or other proceeding of
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whatever nature in relation to any property which has vested in the Government
under section 3, instituted or preferred by or against the Company, is pending,
the same shall not abate, be discontinued or be, in any way, prejudicially
affected by reason of transfer of the undertakings of the Company or of
anything contained in this Act, but the suit, appeal or other proceeding may be
continued, prosecuted, or enforced by or against the Government, or where the
undertakings of the Company are directed, under section 6, to vest in a
Government Company, by or against that Government Company.
5. Government not to be liable for certain prior liabilities .—No liability
incurred by the Company before the appointed day, for the contravention of any
provision of law for the time being in force, shall be enforceable against the
Government, or, where the undertakings of the Company are directed under
section 6, to vest in a Government Company, against that Government
Company.
6. Power of Government to direct vesting of the undertakings of the
Company in a Government Company.—(1) Notwithstanding anything
contained in sections 3 and 4, the Government may, subject to such terms and
conditions as they may think fit to impose, direct, by notification in the
Gazette, that all the undertakings of the Company and the right, title, interest
and liabilities of the Company in relation to its undertakings which have vested
in the Government under section 3, except any undertaking or undertakings
specified in the notification and the right, title, interest and liabilities in relation
to the undertaking or undertakings so specified, shall, instead of continuing to
vest in the Government, vest in a Government Company either on the date of
the notification or on such earlier or later date (not being a date earlier than the
appointed day) as may be specified in the notification.
(2) Where the right, title, interest and liabilities of the Company in
relation to all or any of its undertakings vest in a Government Company under
sub-section (1), the Government Company shall, on and from the date of such
vesting, be deemed to have become the owner in relation to the undertaking so
vested, and all the rights and liabilities of the Government in relation to such
undertaking, shall, on and from the date of such vesting, be deemed to have
become the rights and liabilities of the Government Company.
CHAPTER III
PAYMENT OF AMOUNTS
7. Payment of amount.—(1) For the transfer to, and vesting in, the
Government, under section 3, of the undertakings of the Company and the
right, title and interest of the Company in relation to its undertakings, there
shall be given by the Government in the manner specified in Chapter VI, an
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amount of ten lakhs, forty-three thousand, two hundred and forty-five rupees
and ninety-seven paise.
(2) The amount specified in sub-section (1) shall carry simple interest at
the rate of eight per cent per annum for the period commencing on the
appointed day and ending on the date on which payment of such amount is
made by the Government to the Commissioner.
(3) For the removal of doubts, it is hereby declared that the liabilities of
the Company specified in the Schedule in relation to its undertakings, which
have vested in the Government under section 3, shall be discharged from the
amount referred to in sub-section (1) in accordance with the rights and interests
of the creditors of the Company.
(4) The liabilities of the Company in relation to its undertakings which
have vested in the Government under section 3 and not specified in the
Schedule shall be discharged by the Government as and when they fall due for
payment:
Provided that the liability assumed by the Government under the head
"Vendors Account" shall not exceed the amount shown in the audited balance
sheet of the Company as on 31-12-1975.
CHAPTER IV
MANAGEMENT, ETC., OF THE UNDERTAKINGS OF THE COMPANY
8. Management, etc., of the undertakings of the Company.—(1) The
general superintendence, direction, control and management of the affairs and
business of the undertakings of the Company, the right, title, interest and
liabilities in relation to which have vested in the Government under section 3,
shall,—
(a) where a direction has been made by the Government under sub-
section (1) of section 6, vest in the Government Company specified in such
direction; or
(b) where no such direction has been made by the Government, vest in a
Custodian appointed by the Government under sub-section (2), and thereupon
the Government Company or the Custodian, as the case may be, shall be
entitled to exercise, to the exclusion of all other persons, all such powers and
do all such things as the Company is authorised to exercise and do in relation to
its undertakings.
(2) The Government may appoint any individual or body of persons as
Custodian of the undertakings of the Company in relation to which no direction
has been made by them under sub-section (1) of section 6.
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(3) The Custodian shall receive, from the funds of the undertakings of the
Company, such remuneration as the Government may fix and shall hold office
during the pleasure of the Government.
(4) Notwithstanding anything contained in sub-sections (1) and (2), where
any undertaking has been specified in a notification under sub-section (1) of
section 6, the Custodian shall not be entitled to exercise any power or to do any
other thing in relation to such undertaking.
9. Duty of persons in charge of management of the undertakings of the
Company to deliver all assets, etc .— (1) On the vesting of the management of
the undertakings of the Company in a Government Company or on the
appointment of a Custodian, all persons in charge of the management of the
undertakings of the Company immediately before such vesting or appointment,
shall be bound to deliver to the Government Company or the Custodian, as the
case may be, all assets, books of account, registers or other documents in their
custody relating to the undertakings of the Company, or, as the case may be,
any part thereof:
Provided that in the case of any undertaking specified in the notification
under sub-section (1) of section 6, such assets, books of account, registers and
other documents shall be delivered to an officer specified by the Government in
this behalf.
(2) The Government may issue such directions as they may deem
desirable in the circumstances of the case to the Government Company or the
Custodian, and the Government Company or the Custodian may also, if it is
considered necessary so to do, apply to the Government at any time for
instructions as to the manner in which the management of the undertakings of
the Company shall be conducted or in relation to any other matter arising in the
course of such management.
10. Duty of persons to account for assets, etc ., in their possession. — (1)
Any person who has, on the appointed day, in his possession or under his
control any assets, books, documents or other papers relating to any
undertaking owned by the Company, which have vested in the Government or
in a Government Company under this Act, and which belong to the Company,
or would have so belonged if the undertaking owned by the Company had not
vested in the Government or such Government Company, shall be liable to
account for the said assets, books, documents and other papers to the
Government or the Government Company and shall deliver them up to the
Government or the Government Company, as the case may be, or to such
person or persons as the Government or the Government Company may specify
in this behalf.
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(2) The Government or the Government Company may take or cause to be
taken all necessary steps for securing possession of the undertakings of the
Company which have vested in the Government or the Government Company
under this Act.
(3) The Company shall, within such period as the Government may allow
in this behalf, furnish to the Government a complete inventory of all its
properties, assets and liabilities, as on the appointed day, pertaining to the
undertakings which have vested in the Government under section 3, and, for
this purpose, the Government or the Government Company shall afford to the
Company all reasonable facilities.
11. Accounts.—The Custodian shall maintain an account of the
undertakings of the Company in such form and manner and under such
conditions as may be prescribed.
CHAPTER V
PROVISIONS RELATING TO THE EMPLOYEES OF THE COMPANY
12. Continuance of employees.—(1) Every person who has been,
immediately before the appointed day, employed in any undertaking of the
Company shall become,—
(a) on and from the appointed day, an employee of the Government, and
(b) where the undertakings of the Company are directed under sub-section
(1) of section 6 to vest in a Government Company, an employee of the
Government Company on and from the date of such vesting, and shall hold
office or service under the Government or the Government Company, as the
case may be, with the same rights and privileges as to pension, gratuity and
other matters as would have been admissible to him if there had been no such
vesting and shall continue to do so unless and until his employment under the
Government or the Government Company, as the case may be, is duly
terminated or until his remuneration and other conditions of service are duly
altered by the Government or the Government Company, as the case may be.
(2) Notwithstanding anything contained in the Industrial Disputes Act,
1947 (Central Act 14 of 1947), or in any other law for the time being in force,
the transfer of the services of any officer or other person employed in any
undertaking of the Company to the Government or the Government Company
shall not entitle such officer or other employee to any compensation under this
Act or under any other law for the time being in force and no such claim shall
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be entertained by any court, tribunal or other authority.
13. Provident fund and other funds.—(1) Where the Company has
established a provident fund, superannuation fund, welfare fund or other fund
for the benefit of the person employed in any of its undertakings, the monies
relatable to the officers or other employees whose services have become
transferred by or under this Act to the Government or the Government
Company, shall, out of the monies standing on the appointed day, to the credit
of such provident fund, superannuation fund, welfare fund or other fund, stand
transferred to, and shall vest in, the Government or the Government Company,
as the case may be.
(2) The monies which stand transferred under sub-section (1) to the
Government or the Government Company, as the case may be, shall be dealt
with by the Government or the Government Company in such manner as may
be prescribed.
CHAPTER VI
COMMISSIONER OF PAYMENTS
14. Appointment of Commissioner of Payments.—(1) The Government
shall, for the purpose of disbursing the amount payable under section 7, by
notification in the Gazette, appoint a Commissioner of Payments.
(2) The Government may appoint such other persons as they may think fit
to assist the Commissioner in the exercise of the powers conferred on the
Commissioner under this Act.
(3) The salaries and allowances of the Commissioner and other persons
appointed under this section shall be defrayed out of the Consolidated Fund of
the State of Kerala.
15. Payment by Government to the Commissioner .—(1) The Government
shall, within sixty days from the appointed day, pay in cash to the
Commissioner, for payment to the Company—
(a) an amount equal to the amount specified in sub-section (1) of section
7; and
(b) an amount equal to the amount of interest determined in accordance
with the provisions of sub-section (2) of that section.
(2) A deposit account shall be opened by the Government in favour of the
Commissioner in the Public Account of the State and any amount paid under
this Act to the Commissioner shall be deposited by him to the credit of the said
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deposit account and the said deposit account shall be operated by the
Commissioner.
(3) Records shall be maintained by the Commissioner in respect of the
undertakings of the Company in relation to which payment has been made to
him under this Act.
(4) The interest accruing on the amount standing to the credit of the
deposit account referred to in sub-section (2) shall be credited to the
Government after settlement of the claims.
16. Certain powers of the Government or the Government Company .—
The Government or the Government Company, as the case may be, shall be
entitled to receive, upto the specified date, to the exclusion of all other persons,
any money due to the Company in relation to its undertakings which have
vested in the Government or the Government Company, and realized after the
appointed day, notwithstanding that the realisation pertains to a period prior to
the appointed day.
17. Claims to be made to the Commissioner .—Every person having a
claim against the Company with regard to any of the matters specified in the
Schedule pertaining to any undertaking owned by it shall prefer such claim
before the Commissioner within thirty days from the specified date:
Provided that if the Commissioner is satisfied that the claimant was
prevented by sufficient cause from preferring the claim within the said period
of thirty days, he may entertain the claim within a further period of thirty days,
but not thereafter.
18. Examination and admission or rejection of claims .—(1) On receipt of
the claims made under section 17, the Commissioner shall examine the claims.
(2) After examining the claims with reference to the items specified in the
Schedule, the Commissioner shall fix a certain date on or before which every
claimant shall file the proof of his claim.
(3) Not less than fourteen days’ notice of the date so fixed shall be given
by advertisement in one issue of a daily newspaper in the English language
having circulation in the major part of the State of Kerala and in one issue of
any daily newspaper in the Malayalam language, as the Commissioner may
consider suitable, and every such notice shall call upon the claimant to file the
proof of his claim with the Commissioner within the time specified in the
advertisement.
(4) Every claimant who fails to file the proof of his claim within the time
specified by the Commissioner shall be excluded from the disbursements made
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by the Commissioner.
(5) The Commissioner shall, after such investigation as may in his
opinion, be necessary and after giving the Company an opportunity of refuting
the claim and after giving the claimant a reasonable opportunity of being heard,
by order in writing, admit or reject the claim in whole or in part:
Provided that the Commissioner shall apportion the amount placed at his
disposal in case the total admitted claims are found to be in excess of the
amount placed at his disposal.
19. Power of Commissioner to regulate his procedure, etc.—(1) The
Commissioner shall have the power to regulate his own procedure in all matters
arising out of the exercise of his powers and the discharge of his functions
under this Act, including the place or places at which he may hold his sittings
and shall, for the purpose of making any investigation under this Act, have the
same powers as are vested in a civil court under the Code of Civil Procedure,
1908 (Central Act 5 of 1908) while trying a suit, in respect of the following
matters, namely:—
(a) the summoning and enforcing the attendance of any witness and
examining him on oath;
(b) the discovery and production of any document or other material
object producible as evidence;
(c) the receipt of evidence on affidavits;
(d) the issuing of any commission for the examination of witnesses.
(2) Any investigation before the Commissioner shall be deemed to be a
judicial proceeding within the meaning of sections 193 and 228 of the Indian
Penal Code (Central Act 45 of 1860) and the Commissioner shall be deemed to
be a civil court for the purposes of section 195 and Chapter XXVI of the Code
of Criminal Procedure, 1973 (Central Act 2 of 1974).
20. Appeal by claimants.— A claimant who is dissatisfied with the
decision of the Commissioner under section 18 may prefer an appeal against
the decision to the principal civil court of original jurisdiction within the local
limits of whose jurisdiction the registered office of the Company is situated.
21. Disbursement of money by the Commissioner to claimants.— After
admitting a claim under this Act, the amount due in respect of such claim shall
be paid by the Commissioner to the person or persons to whom such amount is
due, and on such payment, the liability of the Government or the Government
Company in respect of such claim shall stand discharged.
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22. Disposal of the balance amount.— If, out of the monies paid to him in
relation to the undertakings of the Company, there is a balance left after
meeting the liabilities as specified in the Schedule, the Commissioner shall
remit such balance to the Government.
23. Right of Government to retain machinery, equipment, etc., not
belonging to the Company.— Where the possession of any machinery,
equipment or other property, has vested in the Government or a Government
Company under this Act, but such machinery, equipment or other property does
not belong to the Company, it shall be lawful for the Government or the
Government Company to continue to possess such machinery or equipment or
other property on the same terms and conditions under which they were
possessed by the Company immediately before the appointed day.
24. Undisbursed or unclaimed amount to be deposited to the general
revenue account.— Any money paid to the Commissioner which remains
undisbursed or unclaimed on the date immediately preceding the date on which
the office of the Commissioner is finally wound up, shall be transferred by the
Commissioner, before his office is finally wound up, to the general revenue
account of the Government, but a claim to any money so transferred may be
preferred to the Government by the person entitled to such payment and shall
be dealt with as if such transfer had not been made, and the order, if any, for
payment of the claim being treated as an order for the refund of revenue.
CHAPTER VII
MISCELLANEOUS
25. Act to have overriding effect .— The provisions of this Act shall have
effect notwithstanding anything inconsistent therewith contained in any other
law for the time being in force or in any instrument having effect by virtue of
any law, other than this Act, or in any decree or order of any court, tribunal or
other authority.
26. Penalties.— Any person who,—
(a) having in his possession, custody or control any property forming part
of the undertakings of the Company, wrongfully with holds such property from
the Government or the Government Company; or
(b) wrongfully obtains possession of, or retains, any property forming part
of the undertakings of the Company; or
(c) wilfully withholds or fails to furnish to the Government or the
Government Company or any person or body of persons specified by the
Government or the Government Company, any document relating to such
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undertakings, which may be in his possession, custody or control; or
(d) fails to deliver to the Government or the Government Company or any
person or body of persons specified by the Government or the Government
Company, any assets, books of account, registers or other documents in his
possession custody or control, relating to the undertakings of the Company; or
(e) wrongfully removes or destroys any property forming part of the
unertakings of the Company or prefers any claim under this Act which he
knows or has reasonable cause to believe to be false or grossly inaccurate,
shall be punishable with imprisonment for a term which may extend to two
years, or with fine which may extend to ten thousand rupees, or with both.
27. Offences by companies .— (1) Where an offence under this Act has
been committed by a company, every person who at the time the offence was
committed was in charge of, and was responsible to, the company for the
conduct of the business of the company, as well as the company, shall be
deemed to be guilty of the offence and shall be liable to be proceeded against
and punished accordingly:
Provided that nothing contained in this sub-section shall render any such
person liable to any punishment, if he proves that the offence was committed
without his knowledge or that he had exercised all due diligence to prevent the
commission of such offence.
(2) Notwithstanding anything contained in sub-section (1), where any
offence under this Act has been committed by a company and it is proved that
the offence has been committed with the consent or connivance of, or is
attributable to any neglect on the part of, any director, manager, secretary or
other officer of the company, such director, manager, secretary or other officer
shall be deemed to be guilty of that offence and shall be liable to be proceeded
against and punished accordingly.
Explanation .— For the purposes of this section,—
(a) "company" means any body corporate and includes a firm or other
association of individuals;
(b) "director", in relation to a firm, means a partner in the firm.
28. Protection of action taken in good faith .—(1) No suit, Prosecution, or
other legal proceeding shall lie against the Government or any officer or other
employee of the Government or the Custodian or the Government Company or
any officer or other person authorised by the Government, the Custodian or the
Government Company for anything which is in good faith done or intended to
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be done under this Act.
(2) No suit or other legal proceeding shall lie against the Government or
any officer or other employee of the Government or the Custodian or the
Government Company or any officer or other person authorised by the
Government, the Custodian or the Government Company for any damage
caused or likely to be caused by anything which is in good faith done or
intended to be done under this Act.
29. Delegation of powers .— (1) The Government may, by notification in
the Gazette, direct that all or any of the powers exercisable by them under this
Act other than the power conferred by section 30 or section 31 may also be
exercised by such person or persons as may be specified in the notification.
(2) Whenever any delegation of power is made under sub-section (1), the
person to whom such power has been delegated shall act under the direction,
control and supervision of the Government.
30. Power to make rules .— (1) The Government may, by notification in
the Gazette, make rules for carrying out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the
foregoing power, such rules may provide for all or any of the following matters,
namely:—
(a) the time within which, and the manner in which, an intimation
shall be given to the Commissioner under sub- section (2) of section 4;
(b) the form and manner in which, and the conditions under which,
the Custodian shall maintain the accounts as required by section 11;
(c) The manner in which the monies in any provident fund or other
fund referred to in section 13 shall be dealt with;
(d) any other matter which is required to be, or may be, prescribed.
(3) Every rule made under this Act shall be laid, as soon as may be after it
is made, before the Legislative Assembly while it is in session for a total period
of fourteen days which may be comprised in one session or in two successive
sessions, and if, before the expiry of the session in which it is so laid, or the
session immediately following, the Legislative Assembly makes any
modification in the rule or decides that the rule should not be made, the rule
shall thereafter have effect only in such modified form or be of no effect, as the
case may be; so, however, that any such modification or annulment shall be
without prejudice to the validity of anything previously done under that rule.
31. Power to remove difficulties .—If any difficulty arises in giving effect
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to the provisions of this Act, the Government may, by order, not inconsistent
with the provisions of this Act, remove the difficulty:
Provided that no such order shall be made after the expiry of a period of
two years from the appointed day.
32. Repeal and saving.—(1) The Super Clays and Minerals Mining
Company (Private) Limited (Acquisition of Undertakings) Ordinance, 1983 (38
of 1983), is hereby repealed.
(2) Notwithstanding such repeal, anything done or any action taken under
the said Ordinance shall be deemed to have been done or taken under this Act.
THE SCHEDULE
(See sections 7, 17, 18 and 22)
1. Paid up Capital of the Company
2. Sundry creditors as on 2-3-1976
(as per audited Balance Sheet as on 31-12-1975)
3. Other liabilities as on 2-3-1976
(as per audited Balance Sheet as on 31-12-1975)
4. Unsecured loans as on 2-3-1976
(as per audited Balance Sheet as on 31-12-1975).
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