Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act : DUTY OF PERSONS TO ACCOUNT FOR ASSETS,

Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act,1982

Act No : 50

Section : DUTY OF PERSONS TO ACCOUNT FOR ASSETS, ETC

SECTION 10: DUTY OF PERSONS TO ACCOUNT FOR ASSETS, ETC

- (1) Every person who has, on appointed day, in his possession or under his control any assets, books, documents or other papers relating to the Amritsar Oil Works which has vested in the Central Government or a Government company under this Act, and which belongs to the Amritsar Sugar Mills Company or would have so belonged if the Amritsar Oil Works had not vested in the Central Government or the Government company, shall be liable to account for the assets, books, documents and other papers to the Central Government or the Government company, as the case may be, and shall deliver them up to the Central Government or the Government company or to such person or body of persons as the Central Government or the Government company may specify in this behalf.

(2) The Central Government may take or cause to be taken all necessary steps for securing possession of the Amritsar Oil Works which has vested in it under section 3-.