The Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980

The Bird and Company Limited (Acquisition and Transfer of Undertakings and Other Properties) Act, 1980 is an Indian law that regulates the acquisition and transfer of undertakings and other properties. The act was introduced to acquire the undertakings of The Bird and Company Limited, a sick company that was unable to meet its obligations. The act empowers the central government to acquire the properties of the company and transfer them to another entity. The act specifies the compensation payable to the company's shareholders and employees, and also mandates the continuation of employment for a certain period of time. The act is an important tool for the government to revive sick companies and protect the interests of shareholders and employees.