Duty to deliver possession of undertakings and documents relating thereto.

Corporate198215 sections

Statutory text

(1) Notwithstanding any judgement, decree or order of any court or anything contained in any other law for the time being in force, the Official Liquidator of the Company or any other person, in whose possession or custody or under whose control the undertakings of any Company or any part thereof as may be, shall deliver possession of the undertakings of the Company or such part thereof as may be his possession, custody or control to the State Textile Corporation forthwith.
(2) The Official Liquidator or any other person who has, on the appointed day, in his possession or his custody or control any books, documents or other papers relating to the undertakings of any Company, which have vested, in the Corporation, shall be liable to account for the said books, documents or other papers to the Corporation or to such person as the Corporation may specify in this behalf.
(3) The Corporation may take, or cause to be taken, all necessary steps for securing possession of the undertakings, which have vested in it.

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