Section 47(6)

All debts and obligations incurred, all contracts entered into and all matters and things engaged to be done by, with or for the Haryana State Industrial and Infrastructure Development Corporation, before a transfer scheme becomes effective shall, to the extent specified in the relevant transfer scheme, be deemed to have been incurred, entered into or done by the Authority, with the Authority and all suits or other legal proceedings instituted by or against the Haryana State Industrial and Infrastructure Development Corporation, may be continued or instituted by or against Authority.