Section 4 in The Howrah-Amta Light Railway Company (Acquisition Of Land) Act, 1976
4. Payment of amount.
(1)The State Government shall deposit in cash in Court to the credit of the company an amount which shall be determined by the Collector, where the land is situated within the limits of Howrah Municipality, at the rate of rupees seventy-four thousand and seven hundred fifty per hectare and, where the land is situated outside the Howrah Municipality, at the rate of rupees four thousand eight hundred and fifty-eight per hectare in case of firm land and rupees one thousand three hundred and forty-five per hectare in case of any other land.(2)For the avoidance of doubts it is hereby declared that the liabilities of the company in relation to its lands which have vested in the State Government under section 3, shall be met from the amount referred to in sub-section (1).(3)In meeting the liabilities of the company in relation to its lands which have vested in the State Government under section 3, the court shall distribute the amount referred to in sub-section (1) amongst the creditors of the company, whether secured or unsecured, in accordance with their rights and interests, and if there is any surplus left after such distribution the same shall be made over to the company.
