Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 3] [Entire Act]

Union of India - Subsection

Section 3(5B) in The Levy Sugar Price Equalisation Fund Act, 1976

(5B)Without prejudice to the provisions of sub-section (5), any amount representing the difference between the controlled price and the interim price allowed by the court which—
(a)is held by any producer with any other person or with any court, Government, bank or other authority referred to in clause (a) of that sub-section, or
(b)is under the cover of any guarantee referred to in clause (b) of that sub-section,
shall, as soon as may be after the final disposal of the proceedings of the Court aforesaid, be credited, to the extent such amount represents excess realisation together with the interest, if any, which has accrued thereon or been guaranteed in respect thereof, to the Fund by such other person, the court, Government, bank or other authority aforesaid or, as the case may be, by the bank or other person furnishing such guarantee and the amount so credited shall be set off against the amount (including interest) required to be credited by the producer under sub-section (5).