State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act : DATE OF DELIVERY, POSSESSION

State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act,1982

Act No : 62

Section : DATE OF DELIVERY, POSSESSION OF PROPERTY ACQUIRED AND DOCUMENTS RELATING THERETO

SECTION 10: DATE OF DELIVERY, POSSESSION OF PROPERTY ACQUIRED AND DOCUMENTS RELATING THERETO

(1) On the vesting of the undertakings of the Sikkim Bank in the State Government under section 6-, every person in whose possession or custody or under whose control any property referred to in sub-section (1) of section 5-may be shall deliver the property to the State Government forthwith.

(2) 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 Sikkim Bank which have vested in the State Government under section 6-and which belong to that Bank or would have so belonged if the undertakings of the Sikkim Bank had not vested in the State Government, shall be liable to account for the said books documents or other papers to the State Government and shall deliver them up to the State Government.

(3) The State Government may take, or cause to be taken, all necessary steps for securing possession of all properties which have vested in that Government under this Act.