An amount equal to the value of the assets of the textile undertakings transferred to, and vested in, the National Textile Corporation under sub-section (2) of section 3 shall be deemed to be the contribution made by the Central Government to the equity capital of the National Textile Corporation; and for the contribution so made, the National Textile Corporation shall issue (if necessary after amending its memorandum and articles of association) to the Central Government paid up shares, in its equity capital having a face value equal to the amount specified in section 8.
Section 7: Shares to be issued by National Textile Corporation for the value of assets transferred to it by the Central Government.
The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986Central Act · Act 30 of 1986
Where this provision sits
| Act | The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986 |
|---|---|
| Section | 7 |
| Marginal note | Shares to be issued by National Textile Corporation for the value of assets transferred to it by the Central Government. |
| Jurisdiction | Central |
| Status | In force as published by the source |
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