G. P. SINGH, C. J.

( 1 ) THE Petitioner National Textile Corporation (M. P.) Ltd. is a Government company registered under the Companies Act, 1956. The petitioner is a subsidiary of the National Textile Corporation Ltd. , also a Government Company registered under the Companies Act. The petitioner manages a number of textile undertakings including the following; (1) Indore Malwa United Mills, indore, (2) Swadeshi Cotton and Flour Mills, Indore, (3) Burhanpur Tapti Mills, burhanpur, (4) Hira Mills. Ujjain, (5) New Bhopal Textiles, Bhopal, and (6)Bengal Nagpur Cotton Mills, Rajnandgaon. These textile undertakings before nationalisation were owned by a number of Companies, hereinafter referred to as the owners. The names of the owners are given in para 6 of the petition. The aforesaid undertakings immediately before nationalisation were under the management either of the Authorised Controller appointed by the Government of India under Section 18 of the Industries (Development and Regulation) Act, 1951 or the Custodian appointed under the Sick Textile Undertakings (Taking over of Management) Act, 1972. These undertakings were nationalised with effect from 1st April 1974 by the Sick Tex

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