THE PUBLIC SECTOR IRON AND STEEL COMPANIES (RESTRUCTURING) 
AND MISCELLANEOUS PROVISIONS ACT, 1978 
_________ 
ARRANGEMENT OF SECTIONS 
  __________ 
CHAPTER I 
PRELIMINARY 

SECTIONS 

1.  Short title and commencement. 
2.  Definitions. 
3.  “Undertaking”— meaning of. 

CHAPTER II 
DISSOLUTION, TRANSFER AND VESTING OF UNDERTAKINGS OF CERTAIN COMPANIES 
4.  Dissolution, transfer and vesting of undertakings of certain companies in Integral Company. 
5.  Transfer and vesting of Kiriburu Iron Ore Mines, etc., in Integral Company. 
6.  Transfer and vesting of Refractory Plant, etc., in the Bharat Refractories Limited. 
7.  Transfer  of immovable  properties  of  Hindustan  Steel Limited  to  Metallurgical  and  Engineering 

Consultants (India) Limited. 

CHAPTER III 
TRANSFER OF SHARES 

8.  Transfer of shares held by Bokaro Steel Limited to Central Government. 
9.  Transfer of shares held by Integral Company to Central Government. 
10.  Transfer of shares held by Integral Company to Bharat Refractories Limited. 
11.  Transfer of shares held by Central Government to Integral Company. 
12.  Central Government, etc., deemed to be registered in the register of members of companies. 
13.  Power  of  Central  Government  to  modify  amount  of  paid-up  share  capital  of  Integral                   

Company, etc., and issue of shares. 

CHAPTER IV 
PROVISIONS RELATING TO OFFICERS AND EMPLOYEES 

14.  Provisions relating to officers and other employees of dissolved companies. 
15.  Provisions relating to officers and employees of transferred units. 
16.  Provisions relating to directors. 
17.  Provision relating to auditors. 
18.  Compensation for transfer not payable. 
19.  Provident Fund. 
20.  Gratuity, welfare and other funds. 

CHAPTER V 
FINANCIAL PROVISIONS 

21.  Provisions with respect to income-tax and surtax. 
22.  Taxes, fees and other charges not payable. 

CHAPTER VI 
MISCELLANEOUS 

23.  Saving of contracts, etc. 
24.  Saving of legal proceedings. 
25.  Power to remove difficulties. 
26.  Act to override the provisions of other laws. 
27.  Power to amend memorandum and articles of association. 

THE FIRST SCHEDULE. 
THE SECOND SCHEDULE. 

1 

 
 
 
 
 
 
 
THE PUBLIC SECTOR IRON AND STEEL COMPANIES (RESTRUCTURING) 
AND MISCELLANEOUS PROVISIONS ACT, 1978 

ACT NO.16 OF 1978 

[30th April, 1978.] 

An Act to provide for restructuring of the iron and steel companies in the public sector so as to 
secure better management and greater efficiency in their working and for matters connected 
therewith or incidental thereto. 

BE it enacted by Parliament in the Twenty-ninth Year of the Republic of India as follows:— 

CHAPTER I 
PRELIMINARY 

1.  Short  title  and  commencement.—(1)  This  Act  may  be  called  the  Public  Sector  Iron  and  Steel 

Companies (Restructuring) and Miscellaneous Provisions Act, 1978. 

(2)  It  shall  come  into  force  on  such  date1  as  the  Central  Government  may,  by  notification  in  the 

Official Gazette, appoint. 

2. Definitions.—(1) In this Act, unless the context otherwise requires,— 

(a) “appointed day” means the date on which this Act comes into force; 

(b) “Companies Act” means the Companies Act, 1956 (1 of 1956); 

(c) “corresponding unit”, in relation to— 

(i) the Integral Company, means that unit of the Integral Company which corresponds to the 
unit of the dissolved company or the transferred company in which the concerned officer or other 
employee was holding office before the transfer of the said unit; 

(ii) a transferee company, means that unit of a transferee company which corresponds to the 
unit  of  the  dissolved  company  in  which  the  concerned  officer  or  other  employee  was  holding 
office before the transfer of the said unit; 

(d) “dissolved company” means a company specified in the First Schedule; 

(e)  “Integral  Company”  means  the  Steel  Authority  of  India  Limited,  a  company  formed  and  

registered under the Companies Act having its registered office at New Delhi; 

(f) “transferee company” means the company to which the undertakings of a dissolved company 

or of a transferred unit, as the case may be, stand transferred by virtue of the provisions of this Act; 

(g) “transferred company” means,— 

(i)  Metallurgical  and  Engineering  Consultants  (India)  Limited,  a  company  formed  and     

registered under the Companies Act having its registered office at Ranchi in the State of Bihar; 

(ii)  National  Mineral  Development  Corporation  Limited,  a  company  formed  and  registered 
under  the  Companies  Act  having  its  registered  office  at  Hyderabad  in  the  State  of  Andhra 
Pradesh; 

(iii) Hindustan Steelworks Construction Limited, a company formed and registered under the 

Companies Act having its registered office at Calcutta in the State of West Bengal; 

(iv) Bharat Refractories Limited, a company formed and registered under the Companies Act 

having its registered office at Bokaro Steel City in the State of Bihar; or 

(v)  India  Firebricks  and  Insulation  Company  Limited,  a  company  formed  and  registered 

under the Companies Act having its registered office at Bombay in the State of Maharashtra; 

1. 1st May, 1978, vide notification No. S.O. 291(E), dated 30th April, 1978, see Gazette of India, Extraordinary, Part II,                  

             sec. 3(ii). 

2 

                                                           
(h) “transferred unit” means,— 

(i)  Kiriburu  Iron  Ore  Mines,  a  unit  of  the  National  Mineral  Development  Corporation 

Limited; or 

(ii)  Meghahatuburu  Iron  Ore  Project,  a  unit  of  the  National  Mineral  Development 

Corporation Limited; 

(iii) Ramgarh Refractory Plant, a unit of the Hindustan Steel Limited (situated near Ramgarh 

in the State of Bihar); 

(iv) Refractory Project, a unit of the Hindustan Steel Limited (situated at Bhilai in the State of 

Madhya Pradesh); or 

(v)  Sillimanite  Mines,  a  unit  of  the  Hindustan  Steel  Limited  (situated  in  the  State  of 

Meghalaya). 

(2) Words and expressions used herein and not defined but defined in the Companies Act have the 

meaning respectively assigned to them in that Act. 

3.  “Undertaking”—  meaning  of.—For  the  purposes  of  this  Act,  the  undertaking  of  a  dissolved 
company  or  of  a  transferred  unit  shall  be  deemed  to  include  all  assets,  rights,  leaseholds  (including 
mining  leases,  if  any),  industrial  or  other  licences,  powers,  authorities  and  privileges  and  all  property, 
movable and immovable, including lands, buildings, works, mines, workshops, projects, smelters, stores, 
instruments,  machinery,  automobiles  and  other  vehicles,  cash  or  bank  balances,  cash  in  hand,                     
investments, and book debts and all other rights and interests in, or arising out of, such property as were 
immediately  before  the  appointed  day  in  the  ownership,  possession,  power  or  control  of  the  dissolved 
company or the transferred unit, as the case may be (whether within or without India), and all books of 
account, registers maps, drawings, records of survey and all other documents of whatever nature relating 
thereto, and shall also be deemed to include all borrowings, liabilities and obligations of whatever kind of 
the dissolved company or the transferred unit. 

Explanation.—Reference in this section to an undertaking of a transferred unit shall be deemed to be 
a reference to so much of the undertaking of the company of which that forms a unit as is relatable to it as 
if it were a separate company. 

CHAPTER II 

DISSOLUTION, TRANSFER AND VESTING OF UNDERTAKINGS OF CERTAIN COMPANIES 

4.  Dissolution,  transfer  and  vesting  of  undertakings  of  certain  companies  in  Integral 
Company.—On the  appointed day,  the companies  specified in  the  First  Schedule shall stand  dissolved 
and,  subject  to  the  provisions  of  sections  6  and  7,  all  the  undertakings  of  such  companies  shall  stand 
transferred to, and vest in the Integral Company. 

5.  Transfer  and  vesting  of  Kiriburu  Iron  Ore  Mines,  etc.,  in  Integral  Company.—On  the                   

appointed day, the undertakings of the following transferred units shall stand transferred to, and vest in, 
the Integral Company, namely:— 

(a)  Kiriburu  Iron  Ore  Mines,  a  unit  of  the  National  Mineral  Development  Corporation                  

Limited, and 

(b)  Meghahatuburu  Iron  Ore  Project,  a  unit  of  the  National  Mineral  Development  Corporation 

Limited. 

6. Transfer and vesting of Refractory Plant, etc., in the Bharat Refractories Limited.—(1) On 
the appointed day, the undertakings of the following transferred units shall stand transferred to, and vest 
in, the Bharat Refractories Limited, namely:— 

(a) Ramgarh Refractory Plant of the Hindustan Steel Limited (situated near Ramgarh in the State 

of Bihar), 

(b) Sillimanite Mines of the Hindustan Steel Limited (situated in the State of Meghalaya), and 

3 

(c) Refractory Project of the Hindustan Steel Limited (situated at Bhilai in the State of Madhya 

Pradesh). 

(2)  Notwithstanding  anything  contained  in  the  Companies  Act,  as  from  the  appointed  day,  the 
registered office of the Bharat Refractories Limited may remain at Bokaro Steel City or be transferred to 
Ranchi. 

7.  Transfer  of  immovable  properties  of  Hindustan  Steel  Limited  to  Metallurgical  and                      

Engineering  Consultants  (India)  Limited.—On  the  appointed  day,  the  right,  title  and  interest  of  the 
Hindustan Steel Limited in the immovable properties owned by it in Ranchi District of the State of Bihar, 
together  with  liabilities  and  obligations  in  relation  thereto,  shall  stand  transferred  to,  and  vest  in,  the 
Metallurgical and Engineering Consultants (India) Limited. 

CHAPTER III 

TRANSFER OF SHARES 

8. Transfer of shares held by Bokaro Steel Limited to Central Government.—On the appointed 
day, all the shares held by the Bokaro Steel Limited in the share capital of the Bharat Refractories Limited 
shall stand transferred to, and vest in, the Central Government. 

9. Transfer of shares held by Integral Company to Central Government.—On the appointed day, 
all the shares held by the Integral Company in the share capital of each of the companies specified in the 
Second Schedule shall stand transferred to, and vest in, the Central Government. 

10.  Transfer  of  shares  held  by  Integral  Company  to  Bharat  Refractories  Limited.—On  the 
appointed day, all the shares held by the Integral Company in the share capital of the India Firebricks and 
Insulation  Company  Limited  (a  company  formed  and  registered  under  the  Companies  Act  having  its 
registered office at Bombay in the State of Maharashtra) shall stand transferred to, and vest in, the Bharat 
Refractories Limited. 

11.  Transfer  of  shares  held  by  Central  Government  to  Integral  Company.—On  the  appointed 
day,  all  the  shares  held  by  the  Central  Government  in  the  share  capital  of  the  Indian  Iron  and  Steel 
Company  Limited  (a  company  under  the  Companies  Act  having  its  registered  office  at  Calcutta  in  the 
State of West Bengal) shall stand transferred to, and vest in, the Integral Company. 

12.  Central  Government,  etc.,  deemed  to  be  registered  in  the  register  of  members  of 
companies.—The Central Government, the Bharat Refractories Limited or the Integral Company, as the 
case  may  be,  shall  be  deemed,  as  from  the  appointed  day,  to  have  been  registered  in  the  register  of 
members of the companies concerned as the holder of each share which stands transferred to, and vested 
in, each of them by virtue of the provisions of section 8, 9, 10 or 11, as the case may be. 

13.  Power  of  Central  Government  to  modify  amount  of  paid-up  share  capital  of  Integral 
Company,  etc.,  and  issue  of  shares.—(1)  The  Central  Government  may,  from  time  to  time,  by  order 
published in the Official Gazette, specify the amount by which the paid-up share capital of the Integral 
Company,  the  Bharat  Refractories  Limited,  the  Metallurgical  and  Engineering  Consultants  (India) 
Limited, and the National Mineral Development Corporation Limited shall stand reduced or increased as 
a  result  of  transfer  of  shares,  undertakings  or  immovable  properties,  as  the  case  may  be,  under  the 
provisions of this Act. 

(2) In specifying the amount under sub-section (1), the Central Government shall have regard to the 

following factors, namely:— 

(i)  the  book  value  of  shares  referred  to  in  section  8,  9,  10  or  11,  as  the  case  may  be,  of  the 

concerned company, on the appointed day, 

(ii)  the  net  value  of  the  undertakings  of  the  dissolved  company  and  transferred  unit,  as  on  the 

appointed day, and 

(iii) the book value of the immovable properties owned by the Hindustan Steel Limited referred 

to in section 7, as on the appointed day, 

as are transferred to or from the companies referred to in sub-section (1). 

4 

(3)  Every  order  made  under  sub-section  (1)  shall  be  made  within  a  period  of  one  year  from  the 
appointed  day  and  any  such  order  may  take  effect  prospectively  or  retrospectively,  but  not  with  effect 
from a date earlier than the appointed day. 

(4)  Any  order  made  by  the  Central  Government  under  this  section  may  include  a  direction  for  the 

issue or cancellation of appropriate number of shares so as to give effect to the provisions of this Act. 

CHAPTER IV 

PROVISIONS RELATING TO OFFICERS AND EMPLOYEES 

14.  Provisions  relating  to  officers  and  other  employees  of  dissolved  companies.—(1)  Every 
officer (not being a director) or other employee holding office immediately before the appointed day in a 
dissolved  company  in  relation  to  any  undertaking  of  such  company,  other  than  an  officer  or  other 
employee  holding  such  office in  relation to  transferred  units referred to  in  section  6,  shall,  as from  the 
appointed day, continue to hold office as such in the corresponding unit of the Integral Company by the 
same tenure and upon the same terms and conditions of service and with the same rights and privileges as 
to  retirement  benefits  as  would  have  been  admissible  to  him  if  the  company  in  which  he  was  holding 
office  had  not  been  dissolved  and  shall  continue  to  do  so  unless  and  until  such  tenure  and  terms  and 
conditions are duly altered by the Integral Company. 

(2) Notwithstanding anything contained in sub-section (1), rules relating to the conditions of service 
and  Standing  Orders  applicable  to  the  officers  or  other  employees  referred  to  in  sub-section  (1),  as 
immediately before the appointed day, shall continue to apply unless and until they are duly altered by the 
Integral Company or other authority, as the case may be. 

15. Provisions relating to officers and employees of transferred units.—(1) Every officer or other 
employee holding office immediately before the appointed day in the transferred unit shall, as from the 
appointed  day,  continue  to  be  an  officer  or  other  employee  of  the  corresponding  unit  of  the  transferee 
company by the same tenure and upon the same terms and conditions of service and with the same rights 
and  privileges  as  to  retirement  benefits as  would have  been admissible to  him  if  the transferred  unit in 
which he was holding office had not been transferred and shall continue to do so unless and until such 
tenure and terms and conditions are duly altered by the transferee company. 

(2) Notwithstanding anything contained in sub-section (1), rules relating to the conditions of service 
and  Standing  Orders  applicable  to  the  officers  or  other  employees  referred  to  in  sub-section  (1),  as 
immediately before the appointed day, shall continue to apply unless and until they are duly altered by the 
transferee company or other authority, as the case may be. 

16. Provisions relating to directors.—(1) Every person holding office as a director of a dissolved 

company immediately before the appointed day shall, on that day, cease to hold office as such director. 

(2) Every person, being a director in whole-time employment of a dissolved company, immediately 
before  the  appointed  day,  shall  continue  to  be  an  employee  of  the  corresponding  unit  of  the  Integral 
Company with such designation and on such terms and conditions as may be determined by the Integral 
Company. 

17.  Provision  relating  to  auditors.—Every  person  appointed  under  section  619  of  the  Companies 
Act as an auditor of a dissolved company or of a transferred unit, holding office immediately before the 
appointed  day,  may  continue  to  hold  office  as  such  auditor  in  the  corresponding  unit  of  the  Integral 
Company or of any other transferee company, as the case may be, for the duration for which he was so 
appointed, on the same terms and conditions as were applicable to him immediately before the appointed 
day. 

18. Compensation for transfer not payable.—Notwithstanding anything contained in the Industrial 
Disputes Act, 1947 (14 of 1947), or in any other law for the time being in force, the transfer of services of 
any officer or other employee shall not entitle such officer or other employee to any compensation under 
that Act or under any other law for the time being in force and no claim for such compensation shall be 
entertained by any court, tribunal or other authority. 

5 

19. Provident Fund.—Where a provident fund has been established by a dissolved company or any 
other company in respect of a transferred unit for the benefit of the employees and the same stands vested 
in a trust, the moneys and other assets standing to the credit of each provident fund shall continue to be 
held in trust with the same objects as were applicable before the appointed day and the trustees of such 
trusts immediately before the appointed day shall, subject to the provisions of the trust deeds and the rules 
relating  to  such  trusts,  continue  to  function  as  trustees  in  respect  of  such  provident  fund  of  the 
corresponding unit of the Integral Company or of other transferee company, as the case may be, as if this 
Act had not been passed: 

Provided  that  the  right  to  nominate  trustees  and  other  rights  relating  to  the  trusts  vested  in  the 
dissolved company or other company in respect of the transferred unit, as the case may be, shall vest in 
the Integral Company or other transferee company, as the case may be. 

20.  Gratuity,  welfare  and  other  funds.—Where  any  gratuity,  welfare  or  other  fund  has  been 
established by a dissolved company or any other company in respect of a transferred unit for the benefit 
of its employees and is in existence immediately before the appointed day, all moneys and other assets 
standing to the credit of or relatable to such gratuity, welfare or other fund shall vest in the corresponding 
unit of the Integral Company or other transferee company, as the case may be. 

CHAPTER V 
FINANCIAL PROVISIONS 

21. Provisions with respect to income-tax and surtax.—(1) The Integral Company shall be liable to 
pay any sum under the provisions of the Income-tax Act or the Companies (Profits) Surtax Act which any 
dissolved  company  would  have  been  liable  to  pay  if  the  dissolution  had  not  taken  place,  in  the  like 
manner and to the same extent as the dissolved company. 

(2)  For the  purpose  of  making  an  assessment  of the income  or,  as  the  case  may  be,  the  chargeable 
profits  of  any  dissolved  company  any  for  the  purpose  of  levying  any  sum  in  accordance  with  the         
provisions of sub-section (1),— 

(a)  any  proceeding  taken  against  any  dissolved  company  before  the  appointed  day  shall  be 
deemed to have been taken against the Integral Company and may be continued against the Integral 
Company from the stage at which it stood immediately before the appointed day; 

(b) any proceeding which could have been taken against any dissolved company if the dissolution 

had not taken place, may be taken against the Integral Company; and 

(c) all the provisions of the Income-tax Act or, as the case may be, the Companies (Profits) Surtax 

Act shall apply accordingly. 

(3) The assessment of the income or, as the case may be, the chargeable profits of the previous year 
of any dissolved company in which the dissolution took place up to the appointed day shall be made as if 
such  dissolution  had  not  taken  place,  and  all  the  provisions  of  the  Income-tax  Act  and  the  Companies 
(Profits) Surtax Act shall, so far as may be, apply accordingly. 

(4)  The  transfer  to,  and  vesting  in,  of  the  undertaking  of  any  dissolved  company  in  the  Integral 
Company  under  the  provisions  of  this  Act  shall  be  deemed  to  be  an  amalgamation  in  relation  to  such 
companies  and  the  provisions  of  the  Income-tax  Act  shall,  so  far  as  may  be,  apply  accordingly  as  if 
references in the said Act to the amalgamating company and the amalgamated company were references 
to the dissolved company and the Integral Company respectively. 

(5) Where any capital asset forming part of any undertaking belonging to the transferred unit or, as 
the  case  may  be,  the  Hindustan  Steel  Limited  is,  in  pursuance  of  section  5  or  section  6  or  section  7, 
transferred to, and vests in, the Integral Company or the Bharat Refractories Limited or, as the case may 
be, the Metallurgical and Engineering Consultants (India) Limited, such capital asset shall be deemed to 
have been transferred in a scheme of amalgamation and the provisions of the Income-tax Act shall, so far 
as  may  be,  apply  accordingly  as  if  references  in  the  said  Act  to  the  amalgamating  company  were 
references to the transferred unit or, as the case may be, the Hindustan Steel Limited and the references to 
the  amalgamated  company,  being  an  Indian  company,  were  references  to  the  Integral  Company  or  the 
Bharat Refractories Limited or, as the case may be, the Metallurgical and Engineering Consultants (India) 
Limited. 

6 

(6) The accumulated loss and the unabsorbed depreciation, if any, of any dissolved company shall be 
deemed to be the loss or, as the case may be, allowance for depreciation of the Integral Company for the 
previous year in which the undertaking of the dissolved company vested in the Integral Company, and the 
provisions  of  the  Income-tax  Act  relating  to  set  off  and  carry  forward  of  loss  and  allowance  for 
depreciation shall apply accordingly. 

(7) The provisions of sub-sections (1) to (6) shall have effect notwithstanding anything to the contrary 

contained in the Income-tax Act or the Companies (Profits) Surtax Act. 

Explanation.—For the purposes of this section,— 

(a) “Income-tax Act” means the Income-tax Act, 1961 (43 of 1961); 

(b) 

“Companies 
Act, 1964 (7 of 1964); 

(Profits)  Surtax  Act”  means 

the  Companies 

(Profits)  Surtax                                      

(c)  words  and  expressions  used  in  this  section  and  not  defined  in  this  Act  but  defined  in  the 
Income-tax Act or the Companies (Profits) Surtax Act shall have the meanings respectively assigned 
to them in the said Acts. 

22. Taxes, fees and other charges not payable.—For the removal of  doubts, it is hereby declared 
that  no  taxes, duties, fees or  other  charges  of  whatever  nature  (including  registration  charges),  shall  be 
payable in respect of any transfer of shares or transfer of any undertakings or transfer of any immovable 
property under the provisions of this Act. 

CHAPTER VI 

MISCELLANEOUS 

23. Saving of contracts, etc.—(1) All contracts, deeds, bonds, agreements and other instruments of 
whatever nature to which the dissolved company is a party subsisting or having effect immediately before 
the appointed day, shall, as from that day, be of full force and effect against, or in favour of the Integral 
Company or other transferee company, as the case may be, and may be enforced as fully and effectually 
as  if,  instead  of the  dissolved  company,  the  Integral  Company  or  other  transferee  company  had  been a 
party thereto. 

(2) All contracts, deeds, bonds, agreements and others instruments of whatever nature to which the 
company in respect of a transferred unit is a party if and in so far as it relates to matters pertaining to the 
undertakings  of  the  transferred  unit,  subsisting  or  having  effect  immediately  before  the  appointed  day, 
shall, as from that day, be of full force and effect against, or in favour of the Integral Company or other 
transferee  company,  as  the  case  may  be,  and  may  be  enforced  as  fully  and  effectually  as  if,  instead  of 
such company, the Integral Company or other transferee company had been a party thereto. 

24.  Saving  of  legal  proceedings.—If,  on  the  appointed  day,  there  is  pending  any  suit,  arbitration, 
appeal or other legal proceeding of whatever nature by or against a dissolved company, the same shall not 
abate,  be  discontinued  or  be  in  any  way  prejudicially  affected  by  reason  of  the  transfer  under  the 
provisions of this Act to the Integral Company or any other transferee company, as  the case may be, of 
the undertakings of the dissolved company or of anything contained in this Act, but the suit, arbitration, 
appeal  or  other  proceeding  may  be  continued,  prosecuted  and  enforced  by  or  against  the  Integral                
Company or other transferee company, as the case may be, in the same manner and to the same extent as 
it would or might have been continued, prosecuted and enforced by or against the dissolved company if 
this Act had not been passed. 

25. Power to remove difficulties.—If any difficulty arises in giving effect to the provisions of this 
Act, the Central Government may, by order, published in the Official Gazette, make such provisions, not 
inconsistent  with  the  provisions  of  this  Act,  as  appears  to  it  to  be  necessary,  for  the  removal  of  the 
difficulty: 

Provided  that  no  such  order  shall  be  made  after  the  expiry  of  a  period  of  three  years  from  the 

appointed day. 

7 

26. Act to override the provisions of other laws.—The provisions of this Act or of any order made 
thereunder shall have effect notwithstanding anything contained in the Companies Act or in any other law 
for the time being in force or in any contract, express or implied, or in any rules or regulations having 
effect by virtue of any law other than this Act. 

27.  Power  to  amend  memorandum  and  articles  of  association.—(1)  For  the  purpose  of  giving 
effect to the provisions of this Act, the Central Government may, by notification in the Official Gazette, 
make  amendments  in  the  memorandum  or  articles  of  association,  or  both,  of  the  Integral  Company  or 
other transferee company. 

(2) Any amendments in the memorandum or articles of association of the Integral Company or other 
transferee  company  made  in  pursuance  of  sub-section  (1)  shall  have  effect  notwithstanding  anything 
contained in the Companies Act. 

8 

 
THE FIRST SCHEDULE 

[See sections 2(1) (d) and 4] 

1.  Bhilai  Ispat  Limited,  a  company  formed  and  registered  under  the  Companies  Act  having  its 

registered office at Bhilai in the State of Madhya Pradesh. 

2.  Bokaro  Steel  Limited,  a  company  formed  and  registered  under  the  Companies  Act  having  its 

registered office at Bokaro Steel City in the State of Bihar. 

3. Durgapur Mishra Ispat Limited, a company formed and registered under the Companies Act having 

its registered office at Durgapur in the State of West Bengal. 

4.  Hindustan  Steel  Limited,  a  company  formed  and  registered  under  the  Companies  Act  having  its 

registered office at  Ranchi in the State of Bihar. 

5.  Rourkela  Ispat  Limited,  a  company  formed  and  registered  under  the  Companies  Act  having  its 

registered office at Rourkela in the State of Orissa. 

6. SAIL International Limited, a company formed and registered under the Companies Act having its 

registered office at Calcutta in the State of West Bengal. 

7.  Salem  Steel  Limited,  a  company  formed  and  registered  under  the  Companies  Act  having  its 

registered office at Salem in the State of Tamil Nadu. 

9 

 
THE SECOND SCHEDULE 

[See section 9] 

1.  Metallurgical  and  Engineering  Consultants  (India)  Limited,  a  company  formed  and  registered 

under the Companies Act having its registered office at Ranchi in the State of Bihar. 

2.  Hindustan  Steelworks  Construction  Limited,  a  company  formed  and  registered  under  the 

Companies Act having its registered office at Calcutta in the State of West Bengal. 

3. National Mineral Development Corporation Limited, a company formed and registered under the 

Companies Act having its registered office at Hyderabad in the State of Andhra Pradesh. 

4.  Manganese  Ore  (India)  Limited,  a  company  formed  and  registered  under  the  Companies  Act 

having its registered office at Nagpur in the State of Maharashtra. 

5.  Mandovi  Pellets  Limited,  a  company  formed  and registered  under  the  Companies  Act  having  its 

registered office at Mormugao Harbour in the Union territory of Goa, Daman and Diu. 

10 

