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Section 10: Disbursement of money by the Commissioner to claimants.

The Pulgaon Cotton Mills Limited (Acquisition of Shares) Act, 1982State Act of Maharashtra · Act 34 of 1982

(1) After admitting a claim under this Act the amount due in respect of each share acquired by virtue of this Act shall be paid by the Commissioner at the rate of rupees four per share to the person or persons to whom such sums are due, and on such payment, the liability of the State Government in respect of the share so acquired shall stand discharged.

(2) The Commissioner shall also apportion amongst the shareholders, the amount paid to him by way of interest under sub-section (3) of section 6, and such apportionment shall be made on the basis of the amount due to each shareholder.

Where this provision sits

ActThe Pulgaon Cotton Mills Limited (Acquisition of Shares) Act, 1982
Section10
Marginal noteDisbursement of money by the Commissioner to claimants.
JurisdictionState of Maharashtra
StatusIn force as published by the source

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