7. Payment of amount.—(1) For the transfer to, and vesting in, the Central Government, under
section 3,—
(a) of the Mokameh unit and the right, title and interest of Britannia Engineering Company, in
relation to that unit; and
(b) of the undertakings owned by Arthur Butler and Company, and the right, title and interest of
Arthur Butler and Company, in relation to those undertakings,
there shall be given by the Central Government to Britannia Engineering Company and Arthur Butler and
Company, in cash and in the manner specified in Chapter V1, an amount equal to the amount specified,
respectively, in the First Schedule, against Britannia Engineering Company and Arthur Butler and
Company.
(2) For the removal of doubts, it is hereby declared that the liabilities of—
(i) Britannia Engineering Company, in relation to the Mokameh unit, and
(ii) Arthur Butler and Company, in relation to the undertakings owned by it,
shall be met, in accordance with the rights and interests of the creditors of the respective company from
the amount due, respectively, to Britannia Engineering Company and Arthur and Company, under
sub-section (1).
8. Payment of further amount.—(1) For the deprivation of Britannia Engineering Company of the
management of the Mokameh unit and for the deprivation or Arthur Butler and Company of the
management of the undertakings owned by it, there shall be given, in cash, by the Central Government to
the respective company, in addition to the amount specified in section 7, an amount computed at the rate
of ten thousand rupees per annum for the period commencing on the date on which the management of
such unit or, as the case may be, such undertakings, was taken over by the Central Government under the
Industries (Development and Regulation) Act, 1951 (65 of 1951) and ending with the appointed day.
(2) In consideration of the retrospective operation of the provisions of sections 3, 4 and 6, there shall
also be given, in cash, by the Central Government to Britannia Engineering Company and to Arthur
Butler and Company an amount equal to an amount calculated at the rate of ten thousand rupees per
annum for the period commencing on the appointed day and ending with the date on which this Act
receives the assent of the President.
(3) The amount specified in section 7 and the amount computed under sub-sections (1) and (2) shall
carry simple interest at the rate of four per cent. per annum for the period commencing on the appointed
day and ending with the date on which the payment of amount is made by the Central Government to the
Commissioner.
(4) The amounts determined in accordance with the provisions of sub-sections (1), (2) and (3) shall be
given to Britannia Engineering Company and to Arthur Butler and Company in addition to the amount
specified in the First Schedule.