State Act

The Andhra Pradesh State Development Corporation Act, 2020.

11.Transfer of assets and liabilities of the Government to the Corporation - (1) All properties and assets of the entrusted schemes, movable and immovable shall vest in and stand transferred to the Corporation and the Corporation shall be entitled to create security and /or escrow arrangements for the benefit of any creditor, such arrangements shall include escrow and security over revenues assigned to the Corporation for the benefit of the creditors to the Corporation from whom financing is availed by the Corporation. (2) Such properties, assets, rights, obligations and liabilities shall be valued in such manner as the Government may determine. (3) If any doubt or dispute arises as to which of the properties or assets or rights or liabilities of the Government have been transferred to the Corporation, such doubt or dispute shall be referred to and decided by the Government, whose decision shall be final.