Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act,1983

Act No : 41

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

SECTION 10: DUTY OF PERSONS IN CHARGE OF MANAGEMENT OF THE UNDERTAKINGS OF THE COMPANY TO DELIVER ALL ASSETS ETC

(1) On the vesting of the management of the undertakings of the Company in Andrew Yule, all persons in charge of the management of the undertakings of the Company immediately before such vesting, shall be bound to deliver to Andrew Yule, all assets, books of account, registers and other documents in their custody relating to the under- takings of the Company.

(2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to Andrew Yule and that company may also, if it is considered necessary so to do, apply to the Central Government at any time for instructions as to the manner in which the management of the undertaking of the Company shall be conducted or in relation to any other matter arising in the course of such management.

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