(1) For the transfer to, and vesting in, the State Government, under section 3, of the shares of the Company, there shall be given by the State Government to the shareholders, in cash, and in the manner specified in section 8, an amount calculated as the value of such shares as in force on the appointed day in accordance with the principle of determination of 27 of 1957.
value of any asset under the Wealth-tax Act, 1957 and the rules made thereunder.
Payment of compensation.
147 The Infusions (India) Limited (Acquisition of Shares) Act, 1985.
[West Ben. Act (Chapter II—Acquisition of the shares of the Company.— Sections 7-9.)
Appointment of Commissioner of Payments.
(2) The amount referred to in sub-section (1) shall carry simple interest at the rate of four per cent. per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the State Government to the Commissioner.