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Section 25: Assumption of liability.

The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986Central Act · Act 30 of 1986

(1) Where any liability of the Company in relation to any textile undertaking arising out of any item specified in Part I of the Schedule is not discharged fully by the Commissioner out of the amounts paid to him under this Act, the Commissioner shall intimate in writing to the Central Government the extent of the liability which remains undischarged and that liability shall be assumed by the Central Government.

(2) The Central Government may, by order, direct the National Textile Corporation to take over the liability assumed by the Central Government under sub-section (1), and on receipt of such direction, it shall be the duty of that Corporation to discharge such liability.

Where this provision sits

ActThe Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986
Section25
Marginal noteAssumption of liability.
JurisdictionCentral
StatusIn force as published by the source

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