Hindustan times hindustan times all you wanted to know about new land acquisition bill 26 min read. The land acquisition amendment bill, 2007 the rehabilitation and resettlement bill, 2007 more information on the land. The bill right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 20 was enacted in 20 and was passed by both the houses rajya sabha and lok sabha. Land acquisition in india refers to the process by which the union or a state government in india acquires private land for the purpose of industrialisation, development of infrastructural facilities or urbanisation of the private land, and provides compensation to the affected land owners and their rehabilitation and resettlement land acquisition in india is governed by many actslaws such. The telangana government will build mallanna project and other projects at any cost, rao said.
The land acquisition, rehabilitation and resettlement bill, 2011 was introduced in lok sabha. The bill then received the assent of the president of india, pranab mukherjee on 27 september 20. Details on the integration of the two companies are still emerging. Process old act section new act section 10 matters to be ignored 24 28 11 interest on excess compensation 28 72 12 redetermination of compensation 28a 73 apportionment of compensation 29 75 14 payment of deposit in court authority 31 77 15 interest 34 80 16 temporary occupation 35 81 17. All about the new land acquisition bill, aug 29, 20. Land acquisition bill 20 provisions and compensation. Land acquisition in india refers to the process by which the union or a state government in india acquires private land for the purpose of industrialisation, development of infrastructural facilities or urbanisation of the private land, and provides compensation to the affected land owners and their rehabilitation and resettlement. This answer was written when the land acquisition bill was brought by the upa government and passed by parliament. The act replaced the land acquisition act, 1894, a nearly 120yearold law enacted during british rule. While the changes are aimed at simplifying and rationalising the procedures involved, the new provisions are also aimed at ensuring higher accountability for the company and majority shareholders and increasing flexibility for. Apr 15, 2015 highlights of larr 20 government acquisition in about 12 categories under section 2 1 of the act were exempted from consent and only sia was required. The companies act, 20, new act in its new avatar, mirrors several changes when compared to the law contemplated under the companies act, 1956 old act.
Larr act 20 was applicable to the private companies as defines in the companies act 1956 or under the societies registration act, 1860. The main difference and controversial one was that the 2015 larr bill exempted the five main categories from the provisions of the larr act, 20 which required the consent of 80% of the land owners to be obtained for private projects and that of. Land acquisition flawed without actual receipt of compensation. Bill of amendment of the business merger and acquisition act. Payment of compensations that is up to 4 times the market value in rural areas and 2 times the market value in urban areas. To achieve the gdp growth rate in double digit, manufacturing, urbanization sustainable smart cities and infrastructure development is must. Further, an attempt has been made to analyse, appraisal and critique the land acquisition act, 1894 while comparing it with present act. Highlights of the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement bill 20 this is the first law. Suggested citation centre on law and social transformation. The land acquisition process was expected to be completed within 40 days but was prolonged due to certain clauses in the central land acquisition act, 20. The land acquisition bill, which has been renamed as the right to fair compensation and transparency in land acquisition. Criticism of the new land acquisition act ipleaders. The board has adopted the rights agreement to protect shareholders from coercive or otherwise unfair takeover tactics.
Centres bill on hold, states move on land acquisition with the centre putting its land acquisition bill in cold storage, states are now taking the lead to seek an exemption from the 20 act. The proposed amendment to the larr 20 seeks to bridge the above gap and support twoway development, i. Land acquisition is the first and foremost activity for any development. Land acquisition rehabilitation and resettlement act, 20. The collectors committee of the national gallery of art recently made possible the acquisition of condensation wall 1963196620 by hans haacke b. Land acquisition, rehabilitation and resettlement act of 20. Sep 05, 20 highlights of the land acquisition bill. Regulatory framework governing mergers and acquisitions in. Commentary on new land acquisition act larr,20 issuu. Process old act section new act section 10 matters to be ignored 24 28 11 interest on excess compensation 28 72 12 redetermination of compensation 28a 73 apportionment of compensation 29 75 14 payment of deposit in court authority 31 77 15 interest 34 80 16 temporary. May 05, 2015 the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 20 is an indian parliament act that regulates land acquisition and laid down rules for. The majority of the indian population is depended on lands.
An important feature that may delay the merger process is the provision allowing all statutory authorities to intervene in the nclt. Sep 24, 20 the land acquisition bill has finally come into force from 1 january, 2014. The land acquisition, rehabilitation and resettlement larr bill, 2011 is a proposed law that lays down various provisions and directions to be followed while acquiring land anywhere in the country. To address historical injustice the bill applies retrospectively to cases where no land acquisition award has been made. Bill of amendment of the business merger and acquisition act date.
Opportunities and challenges of value creation through. Mar 18, 2015 with a lot of talk going around about the land acquisition bill, lets get to know what the act actually is, what are the changes being proposed, the implications of those changes and why the. However, soon certain farreaching changes are expected in the land acquisition act, called in full the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 20 to ensure faster approvals. Oct 31, 2015 centres bill on hold, states move on land acquisition with the centre putting its land acquisition bill in cold storage, states are now taking the lead to seek an exemption from the 20 act. Land acquisition in india is currently governed by the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 20, which came into force from 1 january 2014. Highlights of the land acquisition bill following are the highlights of the land acquisition bill passed by the lok sabha today. The term merger is not defined under the companies act, 1956 ca 1956, and under income tax act, 1961 ita. Dec 30, 2016 the land acquisition process was expected to be completed within 40 days but was prolonged due to certain clauses in the central land acquisition act, 20. Land acquisition bill latest breaking news, pictures, photos and video news. According to the world bank group, in ease of doing business india ranks 142. The bill, that replaced the old land acquisition act, 1894, addresses two very vital and contentious issues. A comprehensive guide to land acquisition act larr, 20, equipped with important case laws, judicial interpretations, analysis of sections, comparative analysis of old and new laws related to.
Two bills on similar lines were introduced in lok sabha in 2007. Title of private company changed to private entity. A bill intituled an act to amend the land acquisition act chapter 152 of the 1985 revised edition in relation to the application of the betterment levy, operational improvements, and non. What is the difference between the 2015 and 20 land. Jul 11, 2015 the main difference and controversial one was that the 2015 larr bill exempted the five main categories from the provisions of the larr act, 20 which required the consent of 80% of the land owners to be obtained for private projects and that of. Latest and breaking news on land acquisition amendment bill. Find land acquisition bill news headlines, photos, videos, comments, blog posts and opinion at the indian express.
It may also grow through an inorganic process, symbolized by an instantaneous expansion in work force, customers, infrastructure resources and thereby an overall increase in the revenues and profits of the entity. Introduction global economic outlook of 2014 suggests that worldwide merger and acquisition market has experienced an unseen growth. To understand the bill clearly, lets first see what the older act was all about. The new land acquisition act, which came into force on first january, 2014 seeks to fundamentally alter the system of land acquisition in india. The rights will be issued on july 9, 20 to the shareholders of record on july 9, 20. It brings in a whole new set of expected and unexpected changes to the existing regime governing indian company law. Land acquisition rehabilitation and resettlement bill 20. Chief minister rao reiterated his resolve to build the reservoir in the assembly.
Due a hydro power project my land is acquired by govt in 20 as per section 11 of 1894 act. The provision of this chapter shall also apply to the scheme of mergers and amalgamations between companies registered under the companies act, 20 and companies incorporated in the jurisdictions of such countries as may be notified. The right to fair compensation and transparency in land. Highlights of larr 20 government acquisition in about 12 categories under section 2 1 of the act were exempted from consent and only sia was required. Right to fair compensation and transparency in land.
The 20 act features some new provisions in the area of mergers and acquisitions, apart from making certain changes from the existing provisions. In 20, upa government brought an amendment and passed a bill regarding the same. Both the transferor and the transferee company shall make an application in the form of petition to the tribunal under section 230232 of the companies act, 20 for the puspose of sanctioning the scheme of amalgamation. The bill was then passed by it on 29 august 20 and by rajya sabha on 4 september 20. Changing contours of mergers and acquisitions under companies act, 20 by anup. All you wanted to know about new land acquisition bill. Modi government notifies rules for land acquisition bill 20.
Mar 29, 2015 land acquisition bill 2015 till 20, india followed 1894 land bill act which allowed the government to take owner land for countrys growth. The bill then received the assent of the president of. All about the new land acquisition bill down to earth. Land acquisition rehabilitation resettlement act 20. Larr act, 20 allowed acquisition of land for private hospitals and educational institutions. Transparency in land acquisition, rehabilitation and resettlement bill, 20 that shall set to be repealing and replacing the century old land acquisition act, 1896 that had been governing land acquisitions in india. The act of 20 in section 24 2 provides that where in a case of land acquisition under the act of 1894, an award has been made five years or more prior to the commencement of the act, but physical possession has not been taken or compensation has not been paid, then the acquisition proceedings shall have to begin afresh under the act of 20. Carrie mae weems, may flowers, 2002, printed 20, chromogenic print, alfred h. Consent of 70% and 80% of the affected families was required for ppp and private project respectively. Land acquisition, rehabilitation, resettlement act 20. The land acquisition, rehabilitation and resettlement bill, 2011 was introduced in lok sabha on 7 september 2011. A critical analysis land acquisition in india is currently governed by the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 20, which came into force from 1 january 2014.
While the act has been hailed in many quarters as a benevolent social legislation which, if implemented correctly, will have immensely beneficial social ramifications, it has also been the subject of. Transparency in land acquisition, rehabilitation and resettlement bill, 20 that shall set to be repealing and replacing the century old land acquisition act, 1896 that had. The land acquisition bill has finally come into force from 1 january, 2014. What are the key points of the new land acquisition bill. With a lot of talk going around about the land acquisition bill, lets get to know what the act actually is, what are the changes being proposed, the implications of those changes and why the. This article highlights a few key changes made in the new act on mergers and amalgamations and the likely impact on industry. Then and now 2 resettlement of people living in the acquired area is a cause of concern as their livelihood is dependent on that land. Till 20, land acquisition in india was governed by land acquisition act of 1894. Now on view in the east building concourse, this sculpture introduces an important example of kinetic art into the collection, joining works by alexander calder, harry bertoia.
Our endtoend merger, acquisition and divestiture advisory services are customized to meet the unique needs of. The notification operationalises the act and helps in getting clarity for the industry on land acquisition front. The bill was introduced in lok sabha in india on 7 september 2011 out of the 235 members who voted on the bill, 216 backed it while 19 voted against it lok sabha on 29th august 20 passed the bill to replace the land acquisition act 1894 as the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement. While the contract act and the companies act would be applicable in every instance of a merger or an acquisition of shares of a target company, there may be situations which bring other legislations into play. The right to fair compensation and transparency in land acquisition, rehabilitation and resettlement act, 20 is an indian parliament act that regulates. Ministry of corporate affairs mergers and acquisitions. The term land acquisition means forcible acquisition of land from an unwilling seller and is distinct from a land purchase from a willing seller. Nov 27, 20 highlights of the right to fair compensation and transparency in land acquisition, rehabilitation and resettlement bill 20 this is the first law that deals with both acquisition and rehabilitation. However, the companies act, 20 ca 20 without strictly defining the term explains the concept. A business may grow over time as the utility of its products and services is recognized.