Section 2 of RCATUA : Section 2: Definitions
RCATUA
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Explanation using Example
Imagine a scenario where the Central Government has decided to nationalize a company called Richardson and Cruddas Limited, which is an old engineering firm based in West Bengal. To facilitate this process, the government enacts The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972.
On a particular date, the government publishes a notification in the Official Gazette declaring that date as the appointed day for the nationalization of the company. Following this, a Custodian is appointed to take ch...
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