Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act : DUTY OF PERSONS IN

Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act,1986

Act No : 30

Section : DUTY OF PERSONS IN CHARGE OF MANAGEMENT OF THE TEXTILE UNDERTAKINGS TO DELIVER ALL ASSETS, ETC

SECTION 11: DUTY OF PERSONS IN CHARGE OF MANAGEMENT OF THE TEXTILE UNDERTAKINGS TO DELIVER ALL ASSETS, ETC

-On the vesting of a textile undertaking in the National Textile Corporation, all persons in charge of the management of a textile undertaking immediately before such vesting shall be bound to deliver to the National Textile Corporation, all assets, books of account, registers or other documents in their custody relating to the textile undertaking.