Section 8 in The National Company Limited (Acquisition And Transfer Of Undertakings) Act, 1980
8. Payment of amount.
- For the transfer to, and vesting, in, the Central Government, under section 3, of the undertakings of the Company and the right, title and interest of the Company in relation to such undertakings, there shall be paid by the Central Government to the Company, in cash and in the manner specified in Chapter VI, an amount of rupees ten crores and four lakhs.(2)For the removal of doubts, it is hereby declared that the liabilities of the Company, in relation to its undertakings shall be met, the accordance with the rights and interests of the creditors of the Company, from the amount due to the Company under sub-section (1).
