https://www.taxtmi.com/caselaws?id=168856 The article explains that, under the Act's inclusive definitions and deeming provision, a sick textile undertaking covers all assets, rights and property relating to the undertaking, so the hosiery section could be brought within takeover and nationalisation despite earlier separate treatment under another statute. It also states that closure of the spinning section, being the company's major and substantial activity, could amount in substance to closure of the textile undertaking even if a minor segment continued to operate, provided the materials did not show permanent closure beyond revival. On that basis, the takeover framework and nationalisation were upheld. 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 article explains that, under the Act's inclusive definitions and deeming provision, a sick textile undertaking covers all assets, rights and property relating to the undertaking, so the hosiery section could be brought within takeover and nationalisation despite earlier separate treatment under another statute. It also states that closure of the spinning section, being the company's major and substantial activity, could amount in substance to closure of the textile undertaking even if a minor segment continued to operate, provided the materials did not show permanent closure beyond revival. On that basis, the takeover framework and nationalisation were upheld. Case-Laws Indian Laws Wed, 17 Sep 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=168856