Asian Refractories Limited (Acquisition of Undertakings) Act : DUTY TO DELIVER POSSESSION OF THE UNDERTAKING

Asian Refractories Limited (Acquisition of Undertakings) Act,1971

Act No : 65

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

SECTION 05: DUTY TO DELIVER POSSESSION OF THE UNDERTAKING AND DOCUMENTS RELATING THERETO.

- (1) Notwithstanding any decree, judgment or order of any court or anything contained in any other 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 undertaking of the company or any part thereof may be, shall deliver possession of the undertaking of the company or such part thereof, as the case may be, to the Central Government forthwith.

(2) The Official Liquidator or any other person who has, on the appointed day, in his possession or under his control any books, documents or other papers relating to the undertaking of the company which has vested, under section 3-, in the Central Government, shall be liable to account for the said books, documents or other papers to the Central Government and shall deliver them up to the Central Government or to such person as the Central Government may specify in this behalf.

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