(1) Every person having, on the appointed day, in his possession, custody or control any property forming part of, or relatable to Institute shall deliver forthwith such property to the Administrator or to any officer or other employee of the State Government as may be authorised by the State Government in this behalf.
Any person who has, on the appointed day, in his possession or under his control any books, papers or other documents relating to Institute (including the minutes books containing resolutions in relation to the Institute adopted by persons incharge of the management of the Society before the appointed day), the current cheque books relating to Institute any letters, memoranda, notes and other communications between him and the Society, shall, notwithstanding anything contained in any other law for the time being in force, be liable to account for the books, papers and other documents (including such minutes books, cheque books, letters, memoranda, notes and other communications) to the Administrator or to such person (being an officer or other employee of the State Government) as may be authorised by the State Government in this behalf.
Every person in-charge of the management of Institute immediately before the appointed day shall, within ten days from that day or within such further period as the State Government may allow in this before furnish to the Administrator a complete inventory of all the properties and assets (including particulars of donations received, book debts, investment, and belongings) forming part of, or relatable to, Institute immediately before the appointed day and of all the liabilities and obligations of the Society in relation to Institute subsisting immediately before that day and also of all agreements entered into by the Society in relation to Institute and in force immediately before the appointed day.