Amendment status not verified — confirm the current text below against the official source.
Where the Board is of opinion that the licensee has on or after the appointed day disposed of any fixed assets whether by way of sale, exchange, gift, lease or otherwise, or incurred any expenditure, liability or obligation otherwise than in the normal course of events, with a view to benefit unduly the licensee or some other person or persons and thereby caused loss to the Board as succeeding owner of the undertaking, the Board shall be entitled to deduct from the amount payable to the licensee under this Act and an amount which the Board considers to be the loss sustained by the Board: Payment of amount. Effect of transaction not bona fide. 21 Deduction horn the MSS amount. The Berhampore Electric Supply Company Limited (Undertaking) Acquisition Act,1981. [West Ben. Act (Section 7.) Provided that before making such deduction, the licensee shall be given a notice to show cause against such deduction within a period of fifteen days from the date of receipt of such notice.