Section 2 of SCMC Act : Section 2: Definitions

Explanation using Example

Let's say you are a former employee of the Swadeshi Cotton Mills Company Limited, and you are entitled to receive certain payments from the company after its acquisition by the government. The term "appointed day" mentioned in the Act is critical for you because it marks the starting point of the legal and financial processes that will affect your claims. Here's an example:

On the "appointed day," which is April 1, 1985, the legal transfer of the company to the government is recognized. This date is important for you to know because it could be used to calculate the amount of compensation you might receive for your pending dues.

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