Amendment status not verified — confirm the current text below against the official source.
(1) On the vesting of the shares of the Company in the State Government under section 3, all persons in charge of management of the affairs of the Company immediately before such vesting shall be bound to deliver to the State Government or to such officer as may be authorised by the State Government in this behalf all assets, books of account, registers and other documents in their custody relating to the Company. (2) The State Government may take, or cause to be taken, all necessary steps for securing the possession of the assets, books of account, registers and other documents as aforesaid. Duty of persons in charge of management of the affairs of the Company to deliver all assets etc.