https://www.taxtmi.com/caselaws?id=168856 The statutory definitions of textile, textile company and textile undertaking, read with the deeming provision, bring all assets, rights and property relating to a sick textile undertaking within takeover and nationalisation. Accordingly, a hosiery section could form part of the undertaking despite separate treatment in earlier litigation under another statute. Closure of the spinning section, as the company's major and substantial activity, could constitute closure of the undertaking in substance for the required period, notwithstanding continued operation of an insubstantial hosiery segment. The statutory framework therefore supported takeover and nationalisation of the whole undertaking. en-us Wed, 17 Sep 1986 00:00:00 +0530 Tue, 31 Mar 2015 18:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=168856 The statutory definitions of textile, textile company and textile undertaking, read with the deeming provision, bring all assets, rights and property relating to a sick textile undertaking within takeover and nationalisation. Accordingly, a hosiery section could form part of the undertaking despite separate treatment in earlier litigation under another statute. Closure of the spinning section, as the company's major and substantial activity, could constitute closure of the undertaking in substance for the required period, notwithstanding continued operation of an insubstantial hosiery segment. The statutory framework therefore supported takeover and nationalisation of the whole undertaking. Case-Laws Indian Laws Wed, 17 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168856