Section 11
Duty of persons in charge of management of the textile undertakings to deliver all assets, etc.
The Swadeshi Cotton Mills Company Limited (Acquisition and Transfer of Undertakings) Act, 1986
About this Act
An Act to provide for the acquisition and transfer of certain textile undertakings of the Swadeshi Cotton Mills Company Limited, with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of different varieties of cloth and yarn and thereby to give effect to the policy of the State towards securing the principles specified in clauses (b) and (c) of article 39 of the Constitution and for matters connected therewith or incidental thereto.
On the vesting of a textile undertaking in the National Textile Corporation, all persons in charge of
the management of a textile undertaking immediately before such vesting shall be bound to deliver to the
National Textile Corporation, all assets, books of account, registers or other documents in their custody
relating to the textile undertaking.