The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972

The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972 was enacted by the Indian Parliament to facilitate the acquisition of the undertakings of Richardson and Cruddas Limited by the Central Government. The Act provides for the transfer and vesting of the undertakings of the company to the Central Government, and also lays down the terms and conditions for the payment of compensation to the company's shareholders. The Act also specifies the powers and functions of the Central Government in relation to the management of the acquired undertakings, and lays down provisions for the protection of the interests of the employees of the company.