{"id":4542,"date":"2025-01-10T12:45:37","date_gmt":"2025-01-10T07:15:37","guid":{"rendered":"https:\/\/indianlawsociety.com\/?p=4542"},"modified":"2025-01-12T14:51:44","modified_gmt":"2025-01-12T09:21:44","slug":"the-hooghly-docking-and-engineering-company-limited-acquisition-and-transfer-of-undertakings-act-1984","status":"publish","type":"post","link":"https:\/\/karma.law\/insights\/law-library\/the-hooghly-docking-and-engineering-company-limited-acquisition-and-transfer-of-undertakings-act-1984\/","title":{"rendered":"The Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984"},"content":{"rendered":"\n
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Download Act<\/span>Download Act<\/span><\/span><\/a><\/div>\n<\/div>\n\n\n\n

Ministry of Shipping<\/p><\/blockquote><\/figure>\n\n\n

The Hooghly Docking and Engineering Company Limited (Acquisition and Transfer of Undertakings) Act, 1984, was enacted to nationalize the Hooghly Docking and Engineering Company Limited. The company, engaged in shipbuilding, ship repairing, and other engineering activities, faced significant financial difficulties and was unable to secure the necessary investments for modernization. The government deemed the company’s continued operation essential for national interests, particularly for reducing reliance on imported ships and materials, and thus enacted this Act to acquire and manage its undertakings. This Act falls under the Ministry of Ports, Shipping and Waterways.<\/span><\/p>\n

Enactment Date, Number of Chapters, Number of Sections:<\/span><\/h4>\n

The Act was enacted on August 23, 1984, and deemed effective from June 28, 1984. It consists of seven chapters and 33 sections.<\/span><\/p>\n

Act Governed By:<\/span><\/h4>\n

Initially, the acquired undertakings vested in the Central Government. However, the Act provided for the subsequent transfer of these undertakings to either an existing or a newly formed Government company. The Central Government retained certain powers, particularly regarding financial disbursement and oversight.<\/span><\/p>\n

On Whom It Is Applicable:<\/span><\/h4>\n

The Act primarily applies to the Hooghly Docking and Engineering Company Limited, its employees, creditors, and any other parties with claims against the company. It also affects the Government company to which the undertakings were transferred.<\/span><\/p>\n

Penalties\/Punishments:<\/span><\/h4>\n

The Act outlines penalties, including imprisonment and fines, for offenses such as wrongfully withholding property, providing false information, and obstructing the acquisition process.<\/span><\/p>\n

Important Pointers:<\/span><\/h4>\n