Bengal Immunity Company Limited (Acquisition and Transfer of Undertakings) Act,1984
Act No : 57
Section : DUTY OF PERSONS IN CHARGE OF MANAGEMENT OF UNDERTAKINGS OF THE COMPANY TO DELIVER ALL ASSETS, ETC
SECTION 11: DUTY OF PERSONS IN CHARGE OF MANAGEMENT OF UNDERTAKINGS OF THE COMPANY TO DELIVER ALL ASSETS, ETC
(1) On the vesting of the management of the undertakings of the Company in an existing, or a new, Government company, all persons in charge of the management of the undertakings of the Company immediately before such vesting shall be bound to deliver to such Government company, all assets, books of account, registers and other documents in their custody relating to the undertakings.
(2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the existing or new, Government company and such Government 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 undertakings of the Company shall be conducted or in relation to any other matter arising in the course of such management.
(3) Any person, who on the appointed day has in his possession or under his control any books, documents or other papers relating to the undertakings of the Company which have vested in the Central Government or in any existing, or new. Government company and which belong to the Company, or would have so belonged if the undertakings of the Company had not vested in the Central Government or the existing, or new, Government company, shall be liable to account for the said books, documents or other papers to the Central Government or the existing, or new, Government company, as the case may be, and shall deliver them up to the Central Government or the existing, or new, Government company or to such person or body of persons as the Central Government or such Government company may specify in this behalf.
(4) The Central Government or the existing, or new, Government company may take or cause to be taken, all necessary steps for securing possession of all undertakings which have vested in the Central Government or the existing, or new, Government company under this Act.
(5) The Company shall, within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all its properties and assets, as on the appointed day, pertaining to the undertakings which have vested in the Central Government under section 3-, and, for this purpose, the Central Government or the existing, or new, Government company shall afford to the Company all reasonable facilities.
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