Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act : DISBURSEMENT OF AMOUNTS TO

Andhra Scientific Company Limited (Acquisition and Transfer of Undertakings) Act,1982

Act No : 71

Section : DISBURSEMENT OF AMOUNTS TO THE COMPANY

SECTION 23: DISBURSEMENT OF AMOUNTS TO THE COMPANY
- (1) If, out of the moneys paid to him, in relation to the undertakings of the Company, there is a balance left after meeting the liabilities as specified in the Schedule, the Commissioner shall disburse such balance to the Company.
(2) Where the possession of any machinery, equipment or other property has vested in the Central Government or a Government company under this Act, but such machinery, equipment or other property does not belong to the Company, it shall be lawful for the Central Government or the Government company to continue to possess such machinery or equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the appointed day