(1) The State Government shall, within thirty days from the specified date, pay in cash to the Commissioner, for payment to the owner of a sick textile undertaking, an amount equal to the amount specified against the sick textile undertaking in the First Schedule and shall also pay to the Commissioner such sums as may be due to the owner of a sick textile undertaking under sub-section (2) of section 8 and section 9.
(2) A separate account shall be opened by the State Government in favour of the Commissioner and every amount paid under this Act to the Commissioner shall be deposited by him in that account and thereafter such account shall be operated by the Commissioner.
(3) Separate records shall be maintained by the Commissioner in respect of each sick textile undertaking in relation to which payments have been made to him under this Act.
(4) Interest accruing on the amounts standing to the credit of the account referred to in sub section (2) shall enure to the benefit of the owners of the sick textile undertakings.