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Section 58: Dissolution of Corporation.

The Maharashtra Industrial Development Act, 1961.State Act of Maharashtra · Act 3 of 1962

(1) Where the State Government is satisfied that the purposes for which the Corporation was established under this Act have been substantially achieved 50 as to render the continued existence of the Corporation in the opinion of the State Government unnecessary, that Government may by notification in the Official Gazette declare that the Corporation shall be dissolved with effect from such date as may be specified in the notification, and the Corporation shall be deemed to be dissolved accordingly.

(2) From the said date-

(a) all properties, funds and dues which are, vested in, or realisable by, the Corporation shall vest in, or be realisable by, the State Government;

(b) all liabilities which are enforceable against the Corporation shall be enforceable against the State Government.

Where this provision sits

ActThe Maharashtra Industrial Development Act, 1961.
Section58
Marginal noteDissolution of Corporation.
JurisdictionState of Maharashtra
StatusIn force as published by the source

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