State Act
26
Section 26. Assumption of liability.
The India Belting And Cotton Mills Limited ( Acquisition And Transfer Of Undertakings ) Act, 1992
Act no. 31 of 19921992In forceWest Bengal (State Act)
26. (1) Where any liability of the Company arising out of any item specified in Category I of the Schedule is not discharged fully by the Commissioner out of the amounts paid to him under this Act, the Commissioner shall intimate in writing to the State Government the extent of the liability which remains undischarged and that liability shall be assumed by the State Government. (2) The State Government may, by order, direct the Company to take over the liability assumed by the State Government under sub-section (1), and, on receipt of such direction, it shall be the duty of the Company to discharge such liability.