An Act to provide for the acquisition of the undertakings of the Alcock Ashdown Company Limited for the purpose of ensuring rational and co-ordinated development and production of goods essential to the needs of the country in general, and defence department in particular and for matters connected therewith or incidental thereto. WHEREAS Alcock Ashdown Company Limited were engaged in boat building, ship repairs and the production of marine diesel engines, and were also engaged in the production of goods which are essential to the needs of the country, such as, light and heavy structurals, transmission line towers, railway points and crossings, grey iron castings and also other goods needed by the maritime and other industries. AND WHEREAS as a result of heavy losses suffered by the company, an order has been made by the High Court at Bombay for the winding up of the company; AND WHEREAS there has been a complete closure of the work of the undertakings owned by the company from after January, 1971; AND WHEREAS it is urgently necessary to bring the undertakings owned by the company into operation so that the interests of the country in general, and the defence department in particular, may not be adversely affected by reason of the stoppage of production and supply of goods produced by the company; BE it enacted by Parliament in the Twenty-fourth Year of the Republic of India as follows:-

#LawyerServices #Section #Act #Law #Statute #IndianLaw #Kanoon