Acquisition of right of owners in respect of textile undertakings

3.

1. (1) On the appointed day, every specified textile undertaking and the right, title and interest of the owner in relation to such textile undertaking shall stand transferred to, and shall vest absolutely in, the State Government.
2. (2) The specified textile undertaking which stands vested in the State Government by virtue of sub-section
3. (1) shall, immediately after it has so vested, stand transferred to, and vest in, the Corporation.