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Section 5

The Bhaskar Textile Mills (Acquisition and Transfer) Act, 1986State Act of Odisha · Act 4 of 1986

(i) Every liability of the owner of the textile undertaking in respect of any period prior to the appointed day shall be the liability of such owner and shall be enforceable against it and not against the State Government or the Corporation.

(2) For the removal of doubts, it is hereby declared that" Effect of vesting.

Owner's Liabilities.

4

(a) save as otherwise expressly provided in this section or in any other section of this Act, no liability in relation to the textile undertaking in respect of any period prior to the appointed day, shall be enforceable against the State Government of the Corporation;

(b) no liability of the owner incurred before the appointed day, for the contravention of any provision of law for the time being in force, shall be enforceable against the' State Government or the Corporation.

6. An amount equal to the value of the assets of the textile undertaking transferred to and vested in the Corporation under sub-section (2) of section 3 shall be deemed to be the contribution made by the State Government to the Corporation to Corporation.

CHAPTER III PAYMENT OF AMOUNT

Where this provision sits

ActThe Bhaskar Textile Mills (Acquisition and Transfer) Act, 1986
Section5
JurisdictionState of Odisha
StatusIn force as published by the source

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