Section 9
Duty of persons to account for assets, etc., in their possession.
About this Act
An Act to provide for the acquisition of the undertakings of the Chaparmukh-Silghat Railway Company Limited in relation to the Chaparmukh-Silghat Railway Line and the undertakings of the Katakhal-Lalabazar Railway Company Limited in relation to the Katakhal-Lalabazar Railway Line with a view to securing the efficient operation of the said Railway lines so as to subserve the needs of the north-eastern areas of India and to protect the links of communication between the said areas and the rest of the country and for matters connected therewith or incidental thereto.
(1) Any person who has, on the
appointed day, in his possession or under his control any assets, books, documents or other papers relating
to any undertaking owned by a specified company which have vested in the Central Government and
which belong to the specified company, or would have so belonged, if the undertakings owned by the
specified company had not vested in the Central Government, shall be liable to account for the said assets,
books, documents and other papers to the Central Government and shall deliver them up to the Central
Government or to such person or persons as the Central Government may specify in this behalf.
(2) The Central Government may take or cause to be taken all necessary steps for securing possession of the undertakings of the two specified companies which have vested in the Central Government under this Act.
(3) The two specified companies shall within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all their properties and assets, as on the appointed day, pertaining to the undertakings which have vested in the Central Government under section 3 and, for this purpose, the Central Government shall afford to the two specified companies all reasonable facilities.
(2) The Central Government may take or cause to be taken all necessary steps for securing possession of the undertakings of the two specified companies which have vested in the Central Government under this Act.
(3) The two specified companies shall within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all their properties and assets, as on the appointed day, pertaining to the undertakings which have vested in the Central Government under section 3 and, for this purpose, the Central Government shall afford to the two specified companies all reasonable facilities.