act 036 of 1950 : Nawab Salar Jung Bahadur (Administration of Assets) Act, 1950 [Repealed]

Section 1. Short title and extent

(1) This Act may be called the Nawab Salar Jung Bahadur (Administration of Assets) Act, 1950.

(2) It extends to the whole of India except the State of Jammu and Kashmir.

Section 2. Definitions

In this Act, unless the context otherwise requires,

(a) assets means all the items of property of the Nawab specified in the Schedule, and includes any other item of property added to the schedule by notification under Section 7;

(b) Committee means the Salar Jung Estate Committee appointed for the purpose of administering the estate of the Nawab under the Salar Jung Estate (Administration) Regulation (No. 34 of 1358-F) of Hyderabad;

(c) the Nawab means Nawab Salar Jung Bahadur of Hyderabad who died on the 2nd day of March, 1949; and

(d) Schedule means the Schedule to this Act.

Section 3. Vesting of assets in Committee

All the assets of the Nawab shall vest in the Committee and shall be administered by the Committee subject to the control of the Central Government.

Section 4. Powers of Committee

(1) Subject to any rules that may be made in this behalf, the Committee may take such measures as it considers necessary or expedient for the purposes of administering and managing the assets which have vested in it and may for any such purpose do all acts and incur all expenditure necessary or incidental thereto.

(2) Without prejudice to the generality of the powers given to it by sub-section (1), the Committee may, for any of the purposes aforesaid,

(a) operate on any account standing in the name of the Nawab in any banking company;

(b) take such action as may be necessary for the recovery of any debt due to the Nawab;

(c) transfer in any manner whatsoever the assets or any part thereof;

(d) invest or re-invest any assets in such security as the Committee may think fit.

(3) The Committee may, for the more convenient exercise of any of its powers, authorities, by resolution, any of its members to act on behalf of the Committee in respect of such matters as may be specified.

Section 5. Payment to Committee to be valid discharge

(1) Any payment made to the Committee in the discharge of any obligation in relation to any asset shall be a full and valid discharge to the person making the payment from all liability in respect thereof.

(2) Any payment made otherwise than in accordance with sub-section (1) shall not be deemed to discharge the person paying it from his obligation to make the payment and shall not affect the right of the Committee to enforce such obligation against that person.

Section 6. Transfers otherwise than by Committee or without its consent void

(1) Any transfer or other disposition of any asset made by any person after the 2nd day of March, 1949, and before the 12th day of November, 1949, shall be void and shall be deemed always to have been void unless confirmed by the Committee.

(2) Any transfer or other disposition of any asset purporting to be made by any person other than the Committee after the 12th day of November, 1949, shall be void and of no effect, and, notwithstanding anything contained in any law for the time being in force, the asset shall be deemed to be and always to have been vested in the Committee.

Section 7. Power to add to Schedule

The Central Government may, by notification in the Official Gazette, add to the items of property in the Schedule any other item which in its opinion represents property belonging to the Nawab, and on the issue of such notification, any property so added, shall be deemed always to have been included in the Schedule for the purposes of this Act.

Section 8. Bar of jurisdiction

No suit or other legal proceeding for the enforcement of any right or remedy in respect of any asset shall be instituted in any court by any person other than the Committee save with the previous consent of the Central Government.

Section 9. Protection of action taken in good faith

No suit, prosecution or other legal proceeding shall lie against the Committee for anything which is in good faith done or intended to be done in pursuance of this Act.

Section 10. Power to make rules

The Central Government may, by notification in the Official Gazette, make rules to carry out the purposes of this Act and, in particular, for the effective exercise of the powers vested in the Committee under this Act.

Section 11. Repeal of Ordinance 29 of 1949

[Repealed by the Repealing and Amending Act, 1957 (36 of 1957), Section 2 and Schedule I.]

(See Section 2)

Assets of the Late Nawab Salar Jung Bahadur

Item No.	Description of property	No. of shares	Amount	In whose custody	Remarks
1	2	3	4	5	6
			Rs.
1.	Government Promissory Notes, 1896-97.	4	12,000	Imperial Bank of India, Hyderabad (Deccan).
2.	The Tata Hydro-Electric Power Supply Co., Ltd. (Bombay).	180 Ordinary.	18,000	Do.
3.	The Tata Hydro-Electric Power Supply Co., Ltd. (Bombay).	500 7 per cent. Preference.	50,000	Do.
4.	The Andhra Valley Power Supply Co., Ltd. (Bombay).	50 Ordinary.	50,000	Do.
5.	The Tata Power Co., Ltd. (Bombay).	110 Ordinary.	1,10,000	Do.
6.	Do . . . . . . . . . . .	100 7 per cent. Preference.	1,00,000	Do.
7.	The Tata Iron and Steel Co., Ltd. (Bombay).	300 7 per cent. Second Preference.	30,000	Imperial Bank of India, Hyderabad (Deccan).
8.	The Indian Iron and Steel Co., Ltd. (Calcutta).	1,500 Ordinary.	15,000	Do.
9.	The Associated Cement Companies, Ltd. (Bombay).	19,209 Ordinary.	19,20,900	18,583 shares in the custody of the Central Bank of India, Ltd. (Bombay).	Pledged as security against overdraft.
10.	Do . . . . . . . . . . .	. .	. .	626 shares in the custody of the Imperial Bank of India, Hyderabad (Deccan).
11.	The British India Corporation, Ltd., (Calcutta).	10,067 Ordinary.	50, 335	Imperial Bank of India, Hyderabad (Deccan).
12.	Spencer & Co., Ltd. (Madras).	860 Ordinary.	8,600	Do.
13.	Do . . . . . . . . . . .	10,012 6 per cent. A Preference.	1,00,120	Do.
14.	Do . . . . . . . . . . .	4,248 8 per cent. B Preference.	42,480	Do.
15.	P. Orr & Sons, Ltd. (Madras).	250 6 per cent. Preference.	25,000	Do.
16.	Powells, Ltd. (Bombay).	200	5,000	Do.
17.	The Buckingham and Carnatic Co., Ltd. (Madras)	650 Ordinary.	65,000	Do.
18.	Young India Cotton Mills, Ltd. (Calcutta).	200 Ordinary.	5,000	Do.
19.	Imperial Bank of India (Bombay Reg.).	155 Fully paid.	77,500	Central Bank of India, Ltd., Bombay.	Pledged as security against overdraft.
20.	Do . . . . . . . . . . .	560 Contributory	70,000	Do.	Do.
21.	Imperial Bank of India (Calcutta Reg.).	7 Fully paid.	3,500	Do.	Do.
22.	Do . . . . . . . . . . .	14 Contributory.	1,750	Do.	Do.
23.	The Central Bank of India, Ltd. (Bombay).	1,500 Rs. 25 paid up.	37,500	Imperial Bank of India, Hyderabad (Deccan).
24.	Do . . . . . . . . . . .	300 A	7,500	Do.
25.	Jupiter General Insurance Co., Ltd. (Bombay).	750 6 per cent. Preference.	7,500	Do.
26.	Do . . . . . . . . . . .	100 Ordinary.	1,500	Do.
27.	The Madras Swadeshi Emporium Ltd. (Madras).	500	5,000	Do.
28.	The Vulcan Insurance Co., Ltd. (Bombay).	1,600	16,000	Do.
29.	The Bombay Electric Supply and Tramways Co., Ltd. (In voluntary liquidation).	265 Ordinary.	13,250	Do.
30.	The Industrial and Prudential Assurance Co., Ltd., (Bombay).	300 Ordinary.	1,800	Do.
31.	The Deccan Tobacco Works, Ltd. (Poona).	200 Ordinary.	8,000	Do.
1[31-A	The Taj Company Ltd., (Lahore Pakistan).	25	500	Do.
31-B	The Eastern Federal Union Insurance Co., Ltd. (Chhittagong Pakistan).	3,500	17,500	Do.
31-C	The Wardle Engineering Co., Ltd. (Manchester U.K.).	867 Ordinary.	867	Imperial Bank of India, Hyderabad (Deccan).
31-D	Do . . . . . . . . . . .	1,733 Preference.	1,733	Do.
31-E	Glenealy Plantations Ltd. (Singapore-Malaya).	100	$ 100	Do.
31-F	The Malaka Pinda Rubber Estate, Ltd. (Singapore Malaya).	100	$ 100	Do.
31-G	The Pajam Ltd. (Singapore Malaya).	500	$ 500	Do.
31-H	The New Scudai Ltd. (Singapore Malaya).	250	$ 250	Do.
31-I	The Ayer Panas Rubber Estate Ltd. (Singapore Malaya).	500	$ 500	Do.
31-J	The Mergui Rubber Estate Ltd., (Singapore Malaya).	100	$ 500	Do.]

Life Insurance Policies

Item No.	Name of Company	Policy No.	Amount	In whose custody	Remarks
1	2	3	4	5	6
			Rs.
32	The Prudential Assurance Co., Ltd.	3600081	1,00,000	With Company
33	The Gresham Life Assurance Society, Ltd.	784360	2,75,000	Do.
34	The Bombay Life Assurance Co., Ltd.	42537	2,00,000	Do.
35.	The North British and Mercantile Insurance Co. Ltd. (Calcutta).	09927-P	2,000	Do.
36.	The Hindustan Cooperative Insurance Society, Ltd.	109450	50,000	Do.
37.	Allianz and Stuttgarter Life Insurance Bank, Ltd., (New Delhi).	HZ-5994	10,000	. .	Deducted under instructions from the Government of India, on policy which matured in 1948.

Bank Deposit

Item No.	Description of property	Amount			Remarks
1	2	3			4
		Rs.	A.	P.
38	Current Account with Imperial Bank of India (Bombay).	95, 625	2	8	(as at 30-4-1949).
2[38-A	Current Account with Imperial Bank of India (London).	27	s. 17	d. 11	(at 2-5-50)

Buildings

Item No.	Description of property	In whose custody	Remarks
1	2	3	4
39	House in Ootacamund Woodcock Hall .	Salar Jung Estate Committee
40	House in Poona Gladhurst .	Do.

1. Inserted by Notification No. S.R.O. 2170, dated 19-11-1953, Gazette of India, Part II, Section 3, p. 1972.

2. Inserted by Notification No. S.R.O. 2170, dated 19-11-1953, Gazette of India, Part II, Section 3, p. 1972.