(1) The State Government may, on the application made by the Administrator in this behalf, advance moneys to the company for the purpose of efficiently managing the business of the company and all such moneys shall be repaid by the company with such interest as may be prescribed.
(2) Any money advanced to the company under sub-section (1) shall, subject to the prior payment of municipal rates and any sum due to Government on account of taxes or fees, be a first charge upon the undertaking of the company.
10. The State Government may, if it is satisfied that it is necessary or expedient so to do, direct, by notification that the operation of all contracts, assurances of property, agreements, settlements, awards, standing orders or other instruments in force to which the company is a party or which may be applicable to the company immediately before the appointed day, shall remain suspended and all rights. privileges, obligations and liabilities Contracts, agreements, etc., to remain suspended.
153 The Great Eastern Hotel (Taking over of Management) Act, 1975.
[West Ben. Act Overriding effect of notification under section W.
Suspension or modification of certain remedies, etc.
Period of limitation.
(Sections 11-16.)
accruing or arising thereunder before the said date shall remain suspended or shall be enforceable with such modifications and in such manner as may be specified in such notification.
11. A notification issued under section 10 shall have effect notwithstanding anything to the contrary contained in any other law, agreement or instrument or any decree or order of any court, tribunal, officer or other authority.
12. Any remedy for the enforcement of any right, privilege, obligation or liability referred to in section 10 and suspended or modified by a notification under that section shall, in accordance with the terms of the notification, remain suspended or modified, and all proceedings relating thereto pending before any court, tribunal, officer or other authority shall accordingly be stayed or be continued subject to such modification so, however, that on the notification ceasing to have effect—
(a) any right, privilege, obligation or liability so suspended or modified shall revive and be enforceable as if the notification had never been issued; and
(b) any proceeding so stayed shall be proceeded with subject to the provisions of any law which may then be in force from the stage which had been reached when the proceeding was stayed.
13. In computing the period of limitation for the enforcement of any right, privilege, obligation or liability referred to in section 10, the period during which it or the remedy for the enforcement thereof was suspended, shall be excluded.
Protection 14. No suit, prosecution or other legal proceeding shall lie against of action taken under the State Government or the Administrator or any other person for anything the Act. which is in good faith done or intended to be done under this Act or the rules made thereunder.
Power to remove difficulties Power to make rules
15. If any difficulty arises in giving effect to the provisions of this Act the State Government may take such steps or issue such orders not inconsistent with this Act as may be necessary for the removal of the difficulty.