The SttC Tei,file Corporation or any person which 'that Corporation niaj by order in wnting specify, shall be entitled to exercise, the pb'ers of general superintendence, direction, coitrol and managenient of the affaith and business of the sick textile undert4ing,. the right, iftle and interest, of an. bwner in relation to whieb have vested in that Corporstion tinder sub-seà'tion. (2). ofeçtion. 3,and. do 41 such things as the o'ner of the 3ick textile undertaking is aitthorised to exercise and do. . .. . .
'I 4593800/2020/IND(OS) 26 I .JOOOO?9 11 Duty of persons in charge of management of ihe sick textile undertaking to deliver all assets etc —On the vesting 01' the management of the sick textile undertaking in the State Textile Corporation, all persons in ch m m arge of the aiageent of such sick textile undertakuig tmwedite1y before ,.'
such vesting shafl be bound to deliver to the State Textile Corporaiion all assets, bocks of account' registers or other documents m their custody relating to the sick textile 'undertaknig , - - 12 Accoun1ts —The State Textile Corporation shall maintain the accounts of the sick textil undertaking in accordance ivith tke pro.vasions of the Companies Act, 1956 (Central Act I-of 1956) CBARV -, PROVISIONS. RELTING TO EMPLOYEES OF SICK- TEXTILE UNDERTAKING - If 13 Emplovirent of certain employees to continue —(1) Every person who- is a workmn within the meaning of the Industria1Dispüte.sAct,..'.l?41 (Central Act 14 of 1047), and has. been, inunediately before the appointed day, ' employed in the sick textile undertaking shall becoinc, on and from the appointed day, a'n employee of the State Textile Corporation with the sama ". rights and pnvilges as to pension, gratuity and other matters as would have been admissible to him if the rights in relation to such sick textile undertaking had not been traisferred to and vested in the State Textile Corporation and shall c'bntmnue to do [so unless and until his employment i the State Textile Corpoiation is duly tenninated or until his remuneration, terms and condition of ' employment are du1y altered ,by the State Textile Corporation
(2) Every person who is not a workman within the meaning of the Industrial Disputes Act, 1947 (Central Act 14 of 1947), and who has been, mmmrdiately before the .ppointed day, employed in the sick textile undertaking shall, in so far as such person as emp1oed in connectuop with the sick textile undertaking which has wted in, the State Textile Corporation, become on and from the appomkd dav,4an employee of the State Textile Corporation and shall bold his office or servit.e th...rein by the same tenure, at the same remuneration and upon the same terini and rons.thtrns and with the sazn nghts and privileges as to pension an.d- grat'.ity and other. '-aitters ds,he would have held the same under the sick textile undertak g r' t had not vested in the State Textile V Córp&atioat andjshail continue to do so sñiless anduntil his empIorment-irithe State Textile Corporation as duly teimn'dted or until his remuneration, terms and cndinons ofeznploymqit ar du1 altured by the State Tectile corporation -. ., 4593800/2020/IND(OS) 27 - 1 34 Nottithstanding anything ontained in the ludiistriat Disputes Act,, 1947 (Central Act 14 of 1947), or in any other law for the time being in-force,' the transfer of the ervices of any, officer or other person employed In the sick • textile undertaking ,to tha StdtTexti CorpOration shall not entitle such ofces or other empliyee to any compensahoi under'this Act or any other law.
for the time being in force, and no such claim shall be entertained by any court, tribun4 oi other authority. .. - Where, under, the terms of 'any contract of iervice or ntherwise-, any person whose services become trminátdor whole sexvicesbecome transferred to the Stite Textile- corporation by reasonof the provisions of this Act is entitled' to any arrears of salary or wages or any payment for any leave not. availed of or other' payment, not being a payment by way of Otufty or -.
pension; for any period prior tothe date of declaration as a sick company by the Boaid for lidstrial and Financial Reconttuctiqn (BIFR) sucg pcñcn may, except to the extent such'liabiity has been taken over by (he State,Covernnient under sect4on 5, enforce his óluim alainst the owner of the sick textile undertaking but not against the- State Government or the State- Texftle Corporation.
14. Provident fhwid and other jund'i.'—{1) Where the ownJof'the sick textile undertaking has, established a provident fund, superannuation, welfare- Or other fund for- the benefit of the persons employed in'such sick te*tt:1e undertaking, the money relatable to-the imployees, whose serviceshave - become transferred by-or--under this 'Act to the State Textile Cqrporation shall, ñt of the money standing, on tj2e appointed day, to the credi(f such piwident fund, superannuation, welfare or -other fund, stand trangferred.to, and shall vest in the SttC Textile corporation.
-(2) Te money which stand transferred under sub-ecfion. (TY to the - - - State Textile Corporation hall be dealt with by that Corporation in swth manner as may be' prescribed.
IS. Transfer of employees to Subsidiary Textile Corporation—Y1here the sick textile undertaking or any part thereof is transferred under this Act to a Subsidiary Tetik Corporatidn,. - 'every prnn referre4 to. in sub-section (i) and siib-sectioh (2) of section }, shall on and fromthe date of - such transfer,' becQrne an employee of the Subsidiaxt Teitile corporatioti' and the provisions of sectiotis43 nd 14 shall apply tQ'suh employee as they apply to an-employee, of the State Textile Corporation,hsif references in the slid sections to the Staè Textile Corporation wãe references to tie Subsidiary- ubsidiary Textile textile LOrporatlOn.
4593800/2020/IND(OS) 28 35 .. • . •
CHAPTER VI COMMISSIONER OF PAYMENTS 16 Appbiniment of Commissioner of Payments —(1) For the purpose o'f disbursing the amounts payabl to the'owner of the sick textile undertaking, ' specified in the First Schedule, the State Government shall, by'notification in the Gazette apoint a perón as they may. think fit to be the Commissioner.of !aYments; .. . • . . •: .
The State Government may, appoint such other persons as they .
may think fit o assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act and different persons may be äuthorised to exercise different powers.
'I ''' .
'• O Any person authorised by the Commissioner to exercise any powers may xercise those powers in the same manner and witI the same effect as if thy have been conferred on that person directly by this Act and not by way of authonsation 0
(4) The salaries and allowances of the Commissioner shall be defrayed .out of , the Consolidated Fthid of the State of Kerala.
17' Payment by State Government to the Commissioner— ( 1) The State Government shall within thirty days from the specified date, pay in cash to the Commissioner,-for payment to the owner of the sick textile undertaking, an amount equal to the amount specified against the sick textile undertaking in the Fit Schedule and shall also pay to the Commissioner such sums as may be due to the owner1 of the sick textile undertaking under sub-section (2) of section 8 and section 9 2) 'A separate account shall be opened by the State Government in favour of the Commissioner and every amOunt paid under this Act to the Commissionerj shall be deposited by him in that account and thereafter such account shall be operated by the fCommissioner.
ISeparate records shall be maintained by the Commissioner in respect of the. sick textile undértakin in relation to which payments have been made to him underthis Act Interest accruing on the amounts standing to the credit of the.
- . -,-- .
. . account referred to in sub-section (2) shall ensure to the benefit of the owners r of the sick textile undertaking - . • • 0 ' , 0._ 0 • . 0 •0 '• . 0 4593800/2020/IND(OS) 29 36 Claims to be' made to the ComMLssioner.---Every person having a claim against the owner of the, sick textile undertaking shall prefer such claim before the Commissioner within thirty dais from the specified cfate
Provided that'if the Coramissionr is satisfied that the claimant was' prevented by sufficient causfrom preferring the claim within the said period of thfrt days may entertain the claim within a fiitther period ofthirtydays but -- - not thereafter.
Priorizy of claims?—The claims arisipg out of the matters specified in the Second Schedule shalr have priorities in accordance with the fbllowing principles, naniely:— (al Categbry 1 will have precedence ever #11 other categories and Category U. will have a precedence over Cory III and so on;
(1) The claims specified in each ofthe dategories, =ept Category V. shall rank equally and be pid in tZ.ii; but if the amount is insufficient to meet ,sucb claims-'in full, .they. Iball. bate' in equal proportions and be 'paid accordingly;
(cJ The Iiabilities specified in Category V shall 'be dis4harged subjeci to the pnorities specified in this sectlon in accordance with the terms of the secured loans and the priority, inter se,.cf such loans; and - - (d) The- question ofpayment of a. liability with regard. to a matter specified in a lower category shall arise pnly if a surplus is left after meeting - all 'the liabilities specified in the immediately higher'catg9ry .• • Earniiation of claThzs.—(l) On.. reeeipt of .the claims under section 18, the C,om sioer 'shall arrange the claims in the order of priority specified in the Second chedule 'and examine the sme in acèordaiice with the said order.
(2) If, o examjnation'of the claims, the eornmuiss'ioner is of the" opiniqn that the amount paid to hinr pnder this Act is' not sufllcieni to meet the liabilities specified in any lower hategciry, he shall not be reqiired to xarnine the ljabiliiis in respect of such lower category. - -:
ifdmissio, or' ejeqton 'of the c1aims.—(lAftr examining the claim - - with. reference to the priority pet out in the Second Schedule, the Commissioner shall fix a certain date one or hefor&'which every claünaut shall file the proOf-of his clin,, otherwise he excludçd 1rpn the benefit of the disbursement made by the Commissioiier ' - 4593800/2020/IND(OS) 30 A.
-37 £000027
(2) Not less than fourteen days' notice of the date so fixed shall be given by adverisement in one issue of a daily newspaper in the English Language andoid issue of a daily newspaper in the Regional Language js the Commissioner niay consider suitable and every such notice shall call upon the claimant to file the proof of his claim with the Commissioner within the time specified in the advertisement
(3) Any claimant who fails to file the proof of h s claim within the time specified by the Commissioner shall be excluded from the disbursement - made by the Commissioner 0: ...
0
(4) The1 Commissioner shall, after such investigation as may, in hm opinion, be necessary and ?after giving the owner of the sick textile undertaking an opportunity cJf refuting the claim and after giving the claimants a ?easonable tç opportunity of bing heard, in writing admit or reject the claim in whole or in part
(5) The Commissioner hall have the power to regulate his own procedure in aiiJ matters ansing out of the discharge or his functions, including ....... . 0 •,., ......... 0 • the place or places at winch, he will hold his rittings and shall, for.the purpose 0 of making ny ihvestigation under this Act have the same powers as are vested in a civil courtjunder the Code of Civil Procedure, 1908 (Central Act 5 of 1908), while trying a suit in respect of t'he following matters, namely - (a summoning and enforcing the attcndance of any persot and examining him n oath N. dLcovery and production of any document or other material object producibe as evidence reception of evidence on affidavits appointment of commissions for the examination of witnesses
(6) Any investigation before the Commissioner shall be deemed to be a judicial proceed1ing within the meaning of sections 193 and 228 of the Indian Penal Code (Central Act 45 of'1860) anti the Commissioner shall be deemed to be a civil court tfor the purposes of section 195 and Chapter XXVI of the Code of Criminal Propedure, 1973 (Central Act 2 of 1974) I i
(1) A plaimant who is dissatisfied with the decision of the Commissioner may prefer an appeal against the decision to the principal civil court .of.origindi jürisdiction within the. focal limits of whôsë jurisdiction the sick textile undrtaking is situ&ted 33/1432120lb/DTP \0 V '.
0 4593800/2020/IND(OS) 31 - - 38 -Z2 i)isbur'semejt of money by rhe Commissioner to claimants._—ijter * admitting a claim under this Act, the -amount due in respect of such claim shall be credited by the Commissioner to the relevant fund or be paid to the person or persons to vhom such sums are due and on such credit or paythent theliability of the owner in reSpect of such claim shall stapd discharged.