The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980

The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980 was passed to enable the government to acquire and transfer the undertakings of certain specified companies to the public sector. The Act applies to companies engaged in the production, processing, manufacturing, or distribution of goods specified in the Schedule of the Act. The government can acquire the undertakings of these companies by issuing a notification and paying compensation to the owners. The Act also provides for the appointment of a government-appointed administrator to manage the acquired undertakings until they are transferred to the public sector. The Act has been amended several times to expand its scope and coverage.