The Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981
Administered Ministry: Ministry of Heavy Industries and Public Enterprises / Department of Heavy Industry
Act details
| Short title | The Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981 |
|---|---|
| Long title | An Act to provide for the acquisition and transfer of the undertakings of the Dalmia Dadri Cement Limited with a view to securing the proper management of such undertakings so as to subserve the interest of the general public by ensuring the continued manufacture, production and distribution of cement which is essential to the needs of the economy of the country and matters connected therewith or incidental thereto. |
| Act number | 31 of 1981 |
| Act year | 1981 |
| Enactment date | 15 Sep 1981 |
| Ministry | Ministry of Heavy Industries and Public Enterprises / Department of Heavy Industry |
| Department | Department of Heavy Industry |
| Jurisdiction | Central (Parliament of India) |
| Sections | 33 |
| Schedules | 1 |
| Status | Not repealed |
| Last checked on India Code | 2 Nov 2026 |
| Source | India Code, Government of India |
Summary
Summary of The Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act, 1981
Key Provisions:
1. Acquisition of Undertaking:
o Provides for the transfer and vesting of the undertakings of Dalmia Dadri Cement Limited in the Central Government.
o The acquisition includes all assets, rights, powers, and interests connected with the cement undertaking.
2. Transfer and Vesting of Assets:
o All properties, movable and immovable assets, licenses, contracts, records, and other rights of the company relating to the undertaking are transferred to and vested in the Central Government.
o Ensures continuity of operations after acquisition.
3. Management and Administration:
o Empowers the Central Government to manage and administer the acquired undertaking.
o Allows the Government to operate the undertaking directly or through a government-controlled entity or authority.
4. Transfer of Liabilities:
o Specifies the liabilities and obligations that are transferred to the Central Government or the acquiring authority.
o Provides for the settlement of claims and responsibilities arising from the undertaking.
5. Compensation:
o Provides for payment of compensation to the shareholders and other interested persons for the acquisition of the undertaking.
o Prescribes the procedure for determining and distributing compensation.
6. Protection of Employees:
o Provides safeguards for employees of Dalmia Dadri Cement Limited.
o Ensures continuity of service and preservation of employment-related benefits under the acquiring authority.
7. Contracts and Legal Proceedings:
o Provides that existing contracts, agreements, and legal proceedings relating to the undertaking continue and may be enforced by or against the Central Government or the acquiring authority.