Section 4(1) in Kottayam Electric Supply Agency (Undertaking) Acquisition Act, 1980
(1)The undertaking vested in the Government under section 3 shall be deemed to include the properties, rights, liabilities and obligations specified below, namely:-(i)all the fixed assets of the licensee in relation to the undertaking and all the documents relating to the undertaking;(ii)all the rights, liabilities and obligations of the licensee in relation to the undertaking under hire purchase agreements, if any, for the supply of materials or equipments made bonafide before the appointed day;(iii)all the rights, liabilities and obligation of the licensee in relation to the undertaking under any other contract entered into bonafide before the appointed day, not being a contact relating to the borrowing or lending of money, or to the employment of staff.
