Section 16L
Preparation of an inventory of the assets and liabilities and list of members and creditors of managed tea undertaking or tea unit.
About this Act
An Act to provide for the control by the Union of the Tea industry, including the control, in pursuance of the International Agreement now in force, of the cultivation of tea in, and of the export of tea from, India and for that purpose to establish a Tea Board and levy a duty of excise on tea produced in India.
1[16L. Preparation of an inventory of the assets and liabilities and list of members and creditors
of managed tea undertaking or tea unit.--For the purposes of this Act, the authorised person shall, as
soon as may be after taking over the management of a tea undertaking or tea unit, prepare a complete inventory of the properties, belongings, liabilities and obligations of such tea undertaking or tea unit, as
the case may be, and a list of members and creditors of such tea undertaking or tea unit, in accordance
with the provisions of section 18FG of the Industries (Development and Regulation) Act, 1951
(65 of 1951), and the said section shall apply to a tea undertaking or tea unit accordingly.
Notes
1. Ins. by Act 75 of 1976, s. 2 (w.e.f. 11-6-1976).