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[Cites 0, Cited by 0] [Section 22] [Entire Act]

State of Gujarat - Subsection

Section 22(4) in The Gujarat Sick Textile Undertakings (Nationalisation) Act, 1986

(4)Where any machinery, equipment or other property in a sick textile undertaking has vested in the Corporation, but such machinery, equipment or other property does not belong to the owner of such sick textile undertaking the amount specified in column (4) of the First Schedule against such sick textile undertaking shall, on a reference made to the court by the Commissioner, be apportioned by the Court between the owner of such machinery, equipment, or other property having due regard to the value of such machinery, equipment or other property on the appointed day.Explanation. - In this section "Court" in relation to the sick textile undertaking, means the principal civil court of origin jurisdiction within the local limits of whose jurisdiction the sick textile undertaking is situated.