Section 9 of SCMC Act : Section 9: Payment Of Further Amounts

SCMC Act

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Explanation using Example

Imagine a textile company called "ABC Textiles Ltd." which was taken over by the Indian government due to mismanagement. The government, under the powers given by the Industries (Development and Regulation) Act, 1951, took control of the company's operations on January 1, 2000. The official acquisition and transfer of the company's undertakings were later formalized by a specific act on January 1, 2002, known as the appointed day.

Under Section 9 of the Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986, ABC Textiles Ltd. would be entitled to compensa...

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