State Act

THE BIST INDUSTRIAL CORPORATION LIMITED (ACQUISITION OF UNDERTAKING) ACT, 1970

2. In this Act, unless the context otherwise requires- (a) "the Company" means the Bist Industrial Corporation Limited, being a company as defined in the Companies Act, 1956, having its registered office at Kichha, district Naini Tal; (b) "the Collector" means the Collector of Naini Tal District and includes any officer authorised by him to perform the functions of the Collector under this Act ;: (c) "the Court" means the Court of District Judge, Naini Tal; (d) "the 'undertaking" of the Company means the entire land and buildings belonging to the company situated at Kichha, district Naini Tal, including drains, culverts, bridges roads, store-house and the chimney turbine and boilers (including the foundations super-structure and rooting) and railway siding tube-well electric installation and other appurtenances and fixtures, and also lease-hold rights or any other interest held by the Company in land and buildings situated at Kichha, and the entire plant and machinery and other equipment (including milling plant, boiling house equipment and other sugar machinery, workshop machinery cane unloading equipment and power plant, furniture, locomotives, and other-vehicles, weigh-bridges and cranes) and stores, plans, sections, drawings, designs and other documents relating to the establishment and running of a sugar factory at Kichha [for which licence was obtained by the Company under the Industries (Development and Regulation) Act, 1951), as was immediately before the 12th day of September, 1970, in the ownership possession, power or control of the company but does not include cash balances, cash in hand, reserve fund, investments and book debts or any properties and assets (other than properties and assets hereinbefore specified as comprised in the undertaking) not connected with the proposed establishment and running of the said sugar factory or any rights or obligations arising out of any contract other than contracts pertaining to the properties and assets hereinbefore specified as comprised in the undertaking.