Section 48
Assets and liabilities of State undertakings.
The Uttar Pradesh Reorganisation Act, 2000
About this Act
An Act to provide for the reorganisation of the existing State of Uttar Pradesh and for matters connected therewith.
(1) The assets and liabilities relating to any
commercial or industrial undertaking of the State of Uttar Pradesh shall pass to the State in which the
undertaking is located.
(2) Where a depreciation reserve fund is maintained by the State of Uttar Pradesh for any such commercial or industrial undertaking, the securities held in respect of investments made from that fund shall pass to the State in which the undertaking is located.
(2) Where a depreciation reserve fund is maintained by the State of Uttar Pradesh for any such commercial or industrial undertaking, the securities held in respect of investments made from that fund shall pass to the State in which the undertaking is located.