Section 9 in Bengal Chemical And Pharmaceutical Works Limited (Acquisition And Transfer of Undertakings) Act, 1980
9. Payment of further amounts.-
(1)For the deprivation of the Company of the management of its undertakings, there shall be given to the company by the Central Government an amount calculated at the rate of two thousand rupees per month for the period commencing on the date on which the management of the undertakings of the Company was taken over by the persons authorised by the Central Government under section 18A of the Industries (Development and Regulation) Act, 1951(65 of 1951), and ending on the appointed day.(2)The amount specified in section 8, and the amount determined under sub-section (1), shall carry simple interest at the rate of four per cent.per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the Central Government to the Commissioner.(3)The amount determined in accordance with the provisions of sub-section (1) and (2) shall be paid by the Central Government to the Company in addition to the amount specified in section 8.(4)For the removal of doubts, it is hereby declared that the liabilities of the Company, in relation to its undertakings which have vested in the Central Government under section 3, shall be discharged from the amount referred to in section 8, and also from the amount determined under sub-section (1) in accordance with the rights and interests of the creditors of the Company.
