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Union of India - Section

Section 40 in Road Transport Corporations Act, 1950

40. Compensation for acquisition of road transport undertakings

.Whenever a Corporation acquires under this Act the whole or any part of any undertaking, there shall be paid by the Corporation compensation the amount of which shall be determined in the manner and in accordance with the procedure hereinafter set out, that is to say,
(a)where the amount of compensation can be fixed by agreement, it shall be paid in accordance with such agreement;
(b)where no such agreement can be reached, the amount shall be determined by an arbitral Tribunal consisting of one nominee of the Corporation, one nominee of the person to be compensated, and a Chairman to be nominated by the Chief Justice of the High Court exercising jurisdiction in relation to the State concerned;
(c)an appeal shall lie to the High Court against the decision of the Tribunal and the order of the High Court on such appeal shall be final.
[Delhi].In its application to the Union territory of Delhi , in Section 40,(a) in Cl . (b),for the words High Court exercising jurisdiction in relation to the State concerned, substitute High Court of Delhi;(b) in Cl . (c),for the words lie to the High Court, substitute lie to the High Court of Delhi and for the words order of the High Court, substitute order of that High Court. Delhi Road Transport Laws(Amendment) Act, 1971 (71 of 1971), Section 7 and Sch . I (w.r.e.f .3-11-1971 ).