Provided that no such order shall be made after the expiry of a period of two years from the appointed day.

Power of State Government to exercise powers of the owner in certain cases Power of State Government to exercise powers of the owner in certain cases.—(1) If the State Government is satisfied that the owner of any specified textile undertaking has, at any time before the appointed day, disposed of any property of the textile undertaking, whether by sale, mortgage, lease or otherwise, otherwise than in the ordinary course of business, then, the State Government may, notwithstanding anything contained in any law for the time being in force, by order, direct that such property shall be restored to the textile undertaking.

1. (2) On the issue of an order under sub-section (1), the property to which the order relates shall vest in the textile undertaking and where the property has been sold, the purchaser shall be required to refund the sale price to the textile undertaking.
2. (3) Where the property has been mortgaged or leased, the mortgage or lease, as the case may be, shall stand cancelled and the textile undertaking shall be liable to refund such amount as may be determined in this behalf by the State Government, having regard to the value of the property and other relevant factors.
3. (4) Any person aggrieved by an order of the State Government under this section may, within thirty days from the date of the order, prefer an appeal to the Commissioner of Textile and the decision of the Commissioner of Textile thereon shall be final: Provided that the Commissioner of Textile may entertain the appeal after the expiry of the said period of thirty days if he is satisfied that the appellant was prevented by sufficient cause from filing the appeal in time.