Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act : DUTY TO DELIVER POSSESSION OF

Dalmia Dadri Cement Limited (Acquisition and Transfer of Undertakings) Act,1981

Act No : 31

Section : DUTY TO DELIVER POSSESSION OF THE UNDERTAKINGS OF THE COMPANY AND DOCUMENTS RELATING THERETO

SECTION 10: DUTY TO DELIVER POSSESSION OF THE UNDERTAKINGS OF THE COMPANY AND DOCUMENTS RELATING THERETO

(1) Notwithstanding any Judgment, decree or order of any Court (Sic) tribunal or other authority or anything contained in any law for the time being in force, the Official Liquidator of the Company or any other person in whose possession or custody or under whose control the undertakings of the Company or any part thereof may be, shall forthwith deliver possenssion of the undertakings of the Company or any part thereof to the Central Government or where the undertakings of the Company are vested undersection 6-in the Cement Corporation, to that Corporation.

(2) On the vesting of the management of' the undertakings of the Company in the Cement Corporation, the Official Liquidator of the Company or any other person who has on the appointed day, in his possession or under his control any hooks, documents or other papers relating lo the undertakings of the Company immediately before such vesting or appointment, shall be bound to deliver the said books, documents or other papers to the Cement Corporation or to such person as the Central Government or the Cement Corporation, as the case may be, may specify in this behalf.

(3) The Central Government may take or cause to be taken all necessary steps for securing possession of the undertakings which have vested in it undersection 3-.

(4) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the Cement Corporation and that Corporation 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.