(1) The Central Government shall pay compensation to the < company for the acquisition of the undertaking of the company and 1 such compensation shall be determined in accordance with the \ principles specified in the Schedule and in the manner hereinafter set out, that is to say,—
(a) where the amount of compensation can be fixed by agreement, it shall be determined In accordance with such agreement;
(b) where no such agreement can be reached, the Central Government shall refer the matter to the Tribunal within a period of three months from the date on which the Central Government and the company fail to reach an agreement regarding the amount of compensation.
(2) Notwithstanding that separate valuations are calculated under the principles specified in the Schedule in respect of the several matters referred to therein, the amount of compensation to be given shall be deemed to be a single compensation to be given for the undertaking ag a whole.
Right of Government to disclaim certain agreements, Compensation for acquisition of undertaking.
540 THE GAZETTE OF INDIA EXTHAOftDlNAItY [PART U Constitution of TribunaL Formation of Government company for
(3) The amount of compensation determined in accordance with the foregoing provisions shall be paid to the company in cash within a period df six months from the date of such determination:
Provided that if compensation is not paid within the period aforesaid, the Central Government shall pay interest on the amount of Compensation at the rate of four per cent, per annum from the date of expiry of the said period.
CHAPTER III TRIBUNAL