(1) If out of the monies paid to him in relation to the textile undertaking, there is a balance left after meeting the liabilities as specified in the Second Schedule, the Commissioner shall disburse such balance to the owner of such textile undertaking.
(2) Before making any payment to the owner of the textile undertaking under sub-section (1), the Commissioner shall satisfy himself as to the right of such person to receive the whole or any part of such amount, and in the event of there being a doubt or dispute as to the right of the persons to receive the whole or any part of the amount referred to in section 7, the Commissioner shall refer the matter to the Court, and make the disbursement in accordance with the decision of the Court.
(3) For the removal of doubt, it is hereby declared that the entry in column (3) of the First Schedule shall not be deemed to be conclusive as to the right, title and interest of any person in relation to the textile undertaking specified in the corresponding entry 250 in column (2) of the said Schedule and evidence shall be admissible to establish the right, title and interest of any person in relation to such textile undertaking.
(4) Where any machinery, equipment or other property in the textile undertaking has vested in the Corporation, but such machinery, equipment or other property does not belong to the owner of the textile undertaking, the amount specified in column (4) of the First Schedule against the textile undertaking shall, on a reference made to the Court by the Commissioner, be apportioned by the Court between the owner of the textile undertaking and the owner of such machinery, equipment or other property having due regard to the value of such machinery, equipment or other property on the appointed day.
Explanation. – In this section, "Court" in relation to the textile undertaking means, the Principal Civil Court of original jurisdiction within the local limits of whose jurisdiction the textile undertaking is situated.
Undisbursed or unclaimed amount to be deposited to the general revenue account
21. Any money paid to the Commissioner which remains undisbursed or unclaimed for a period of three years from the last day on which the disbursement was made, shall be transferred by the Commissioner to the general revenue account of the Government, but a claim to any money so transferred may be preferred to the Government by the person entitled to such payment and shall be dealt with as if such transfer has not been made, the order, if any, for payment of the claim being treated as an order for the refund of revenue.
CHAPTER – VI Miscellaneous Assumption of liabilities