Industries (Development ＆ Regulation) Act, 1951

Section - 18FE - Provisions where Government decides to follow the course of action specified in section 18FD(1)

[Provisions where Government decides to follow the course of action specified in section 18FD(1).

18FE. (1) The provisions hereinafter laid down shall apply where the Central Government decides that the course of action specified in sub-section (1) of section 18FD should be followed, namely :-

(a)- the decision of the Central Government that the course of action specified in clause (a) of sub-section (1) of section 18FD should be followed in relation to a company owning an industrial undertaking shall be deemed to be a ground specified in section 433 of the Companies Act, 1956 (1 of 1956) on which the company may be wound up by the High Court;
(b)- the authorised person shall, as soon as may be, after the decision specified in clause (a) of sub-section (1) of section 18FD has been taken by the Central Government, present an application to the High Court for the winding up of the company owning the industrial undertaking;
(c)- when an app .... To read the full section download the app from Google Play store