Liability on transfer

(1) Upon the sale, bequest or transfer of an Industrial Area by an original Allottee to the purchaser, the guarantor or legatee or transferee, as the case may be, the latter shall be jointly and severally liable with the former for all unpaid dues out of the sums referred under section 11 against the former up-to the time of the sale, bequest or transfer, without prejudice to the right of the latter to recover from the former any amount therefor paid by the latter. (2) Any purchaser, guarantor, legatee or transferee referred to in sub-section (1), shall be entitled to a statement from the Executive Committee setting forth the unpaid dues out of the sums referred under section 11 against the Allottee.