Section 27
Assets and liabilities of State undertakings.
The Bihar and West Bengal (Transfer of Territories) Act, 1956
About this Act
An Act to provide for the transfer of certain territories from Bihar to West Bengal and for matters connected therewith.
(1) The assets and liabilities relating to any
commercial or industrial undertaking of Bihar located in the transferred territories shall pass to West
Bengal.
(2) Where a depreciation reserve fund is maintained by Bihar for any such commercial or industrial undertaking, the securities held in respect of investments made from that fund shall also pass to West Bengal.
(2) Where a depreciation reserve fund is maintained by Bihar for any such commercial or industrial undertaking, the securities held in respect of investments made from that fund shall also pass to West Bengal.