The Commonwealth Trust, Kozhikode (Acquisition and Transfer of Undertaking) Act, 2012
Chapter IV MANAGEMENT, ETC., OF THE UNDERTAKING
Chapter IV MANAGEMENT, ETC., OF THE UNDERTAKING
11. Management, etc., of the undertaking and the land vested in Government.
The State Industrial Development Corporation or any person which that Corporation may, by order in writing, specify, shall be entitled to exercise the powers of general superintendence, direction, control and management of the affairs and business of the undertaking, the right, title and interest of an owner in relation to which have vested in that Corporation under sub-section (2) of section 3, and do all such things as the owner of the undertaking is authorised to exercise and do.
Chapter IV MANAGEMENT, ETC., OF THE UNDERTAKING
12. Duty of persons in charge of management of the undertaking to deliver all assets, etc.
On the vesting of the management of the undertaking in the State Industrial Development Corporation, all persons in charge of the management of undertaking immediately before such vesting shall be bound to deliver to the State Industrial Development Corporation all assets, books of account, registers or other documents in their custody relating to the said undertaking.
Chapter IV MANAGEMENT, ETC., OF THE UNDERTAKING
13. Accounts.
The State Industrial Development Corporation shall maintain the accounts of the said undertaking in accordance with the provisions of the Companies Act, 1956 (Central Act 1 of 1956).
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