Section 11   [ View Judgements ]

Duty of persons to account for assets, etc., in their possession


(1) Any person who has, on the appointed day, in his possession or under his control any assets, books, documents or other papers relating to the undertakings owned by a jute company which has vested in the Central Government or the Jute Manufactures Corporation under this Act, shall be liable to account for the said assets, books, documents and other papers to the Central Government or the existing, or the Jute Manufactures Corporation and shall deliver them to the Central Government or the existing, or the Jute Manufactures Corporation or to such person or persons as the Central Government or the Jute Manufactures Corporation.



(2) The Central Government or the Jute Manufactures Corporation may take, or cause to be taken, all necessary steps for securing possession of the undertakings of the jute companies which have vested in the Central Government or the Jute Manufactures Corporation under this Act.



(3) Every jute companies shall, within such period as the Central Government may allow in this behalf, furnish to that Government a complete inventory of all their property and assets, as on the appointed day, pertaining to the undertakings which have vested in the Central Government under section 3, and, for this purpose, the Central Government or the Jute Manufactures Corporation shall afford to such company all reasonable facilities.

#LawyerServices #Section #Act #Law #Statute #IndianLaw #Kanoon



LawyerServices is a Premium Legal Tech solution.


Lawyers, Law Firms, Government Departments and Corporates rely on us for, Workflow Automation, Data Aggregation, Timely Updates, Case Management, Intelligent Research, Latest Legal Data Updates and a LOT more!

If you are a legal professional, CONTACT US, in order to see how our UNIQUE solution can benefit your organization.

Features Intro Close Box