- (1.) Assam Sillimanite Limited is a public limited company mainly carrying on the business of mining and export of Natural Khasi Sillimanite. The Company in pursuance of the condition in the lease deed dated 10-4-1963 established a Refractory Plant for manufacturing sillimanite corrundum and other associate minerals at Ramgarh in the State of Bihar. The initial investment was Rs. 1.75 crores. The Refractory Plant went into operation in the year 1964 and was closed down in July 1972.
(2.) The Undertaking was take over by the Central Government under Section 18AA of the Industries (Development and Regulation) Act for a period of three years which was extended for a further period of one year with effect from 1-11-1972. Later, by the Assam Sillimanite Limited (Acquisition and Transfer of Refractory Plant) Act, 1976 (in short 'the Act'), the plant was acquired by the Government. The Act received assent of the President on February 11, 1976.
(3.) The Act provides for the acquisition and transfer of the right, title and interest of the Assam Sillimanite Limited in respect of its Refractory Plant and-for matters connected therewith or incidental thereto. The Preamble of the Act reads:- "WHEREAS it is urgently necessary to augment the supplies of refractories to meet the essential requirements of the iron and steel industry; ............................................. AND WHEREAS special type of refractories, including high alumina refractories, needed by the iron and steel industry may be manufactured at the Refractory Plant of the Assam Sillimanite Limited and such manufacture will enable the country to progressively reduce the import of such special type of refractories; ............................................... AND WHEREAS for the purpose of augmenting the supplies of refractories to meet the essential requirements of the iron and steel industry, it is necessary to acquire the right, title and interest of the Assam Sillimanite Limited in respect of its Refractory Plant; Be it enacted by Parliament in the Twenty-sixth year of the Republic of India as follows.";