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[Cites 0, Cited by 0] [Section 8] [Entire Act]

Union of India - Subsection

Section 8(2) in Assam Sillimanite Limited (Acquisition And Transfer Of Refractory Plant) Act, 1976

(2)Any liability in respect of -
(a)the amounts advanced to the Company (after the management of the Refractory Plant had been taken over by the Central Government) by the Hindustan Steel Limited (a company formed and registered under the companies Act, 1956), together with interest due thereon;
(b)wages, salaries and other dues of employees of the Refractory Plant, in respect of any period after the management of such plant had been taken over by the Central Government, shall, on and from the appointed day, be the liability of the Central Government and shall be discharged by that Government or, for and on behalf of that Government, by the Government company, as and when repayment of such amount becomes due or as and when such wages, salaries and other dues become due and payable.