Section 11
Duty of persons in charge of management of undertakings of the two companies to deliver all assets, etc.
The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984
About this Act
An Act to provide for the acquisition and transfer of the undertakings of the Inchek Tyres Limited and the National Rubber Manufacturers 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 tyres, tubes and other rubber goods which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
(1) On the vesting of the management of the undertakings of the two companies in an
existing, or a new, Government company, all persons in charge of the management of the undertakings of
either of the two companies immediately before such vesting shall be bound to deliver to such
Government company, all assets, books of account, registers and other documents in their custody
relating to the undertakings.
(2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the existing, or new, Government company and such Government company may also, if it is considered necessary so to do, apply to the Central Government at any time for instructions as to the manner in which the management of the undertakings of the two companies shall be conducted or in relation to any other matter arising in the course of such management.
(2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the existing, or new, Government company and such Government company may also, if it is considered necessary so to do, apply to the Central Government at any time for instructions as to the manner in which the management of the undertakings of the two companies shall be conducted or in relation to any other matter arising in the course of such management.