Section 27
Assessment of assets and liabilities of undertaking.
The India International Arbitration Centre Act, 2019
About this Act
An Act to provide for the establishment and incorporation of the New Delhi International Arbitration Centre for the purpose of creating an independent and autonomous regime for institutionalised arbitration and for acquisition and transfer of the undertakings of the International Centre for Alternative Dispute Resolution and to vest such undertakings in the New Delhi International Arbitration Centre for the better management of arbitration so as to make it a hub for institutional arbitration and to declare the New Delhi International Arbitration Centre to be an institution of national importance and for matters connected therewith or incidental thereto.
The assets and liabilities in relation to
any undertaking under this Act shall be caused to be assessed by any agency authorised by the
Comptroller and Auditor-General of India in such manner as may be specified by him and any
payment on a claim to be made in relation thereto shall be settled by him between the Society and the
Central Government and shall be paid by the Society or the Central Government, as the case may be,
in the manner as may be specified by the Comptroller and Auditor-General of India.