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1997 (10) TMI 320 - SC - Companies LawWhether the impugned legislation Nagaland Forest Products Ltd. (Acquisition of Shares) Ordinance, 1981, and the Nagaland Forest Products Ltd. (Acquisition of Shares) Act, 1982 attempts/authorises the taking over of the management/control of the plywood industry or it only enables the State Government to acquire the assets (shares) of the company? Held that:- Appeal dismissed. The impugned legislation was not enacted for taking over management or control of any industrial undertaking by the State Government. In pith and substance, it was enacted to acquire the scheduled undertakings. If an attempt was made to take over management or control of any industrial undertaking in a declared industry indisputably the bar of section 20 would inhibit exercise of such executive power.
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