PAHARPUR COOLING TOWERS LTD Vs. COLLECTOR

JUDGEMENT

(1.) The issuance of recovery certificates by the Deputy Labour Commissioner for payment of wages under the provisions of U.P. Industrial Peace (Timely Payment of Wages) Act, 1978 (hereinafter referred to as the '1978 Act') has led to the filing of these petitions.

(2.) M/s. Swadeshi Polytex Limited (hereinafter referred to as the 'SPL') is a company incorporated under the provisions of the Companies Act, 1956 (hereinafter referred to as the 'Companies Act') and has its registered office at Kavi Nagar, Industrial Area, Ghaziabad. While 33.609% of the shares were held by Swadeshi Cotton Mills Company Limited, Kanpur, 28.0218% share are held by M/s. Paharpur Cooling Towers Ltd. (hereinafter referred to as the 'PCT'), 15.290% of the shares are held by the Financial Institutions and the remaining 23.0922% shares are held by the general public.

(3.) PCT is also a company incorporated under the provision of the Companies Act and has its registered office at. Kolkata. Swadeshi Cotton Mills Limited, Kanpur, as stated above, held 33.609% shares of SPL but by virtue of nationalisation, the shares of Swadeshi Cotton Mills Limited, were transferred in the name of National Textile Corporation Limited, (hereinafter referred to as the 'NTC').