Duty of persons in charge of management of closed textile undertakings to deliver all assets, etc

Duty of persons in charge of management of closed textile undertakings to deliver all assets, etc.

1. (1) On the appointed day, every person in charge of the management of a closed textile undertaking immediately before such day shall deliver to the Government or to such person as the Government may appoint in this behalf, all assets, registers, books of account, records and other documents in his possession or under his control relating to the closed textile undertaking.
2. (2) The Government may take, or cause to be taken, all necessary steps for securing possession of all assets, registers, books of account, records and other documents which relate to the closed textile undertaking and which have not been delivered to the Government or the person appointed by it under sub-section (1).