Section 12(4) in Caltex [Acquisition of Shares of Caltex Oil Refining (India) Limited And of the Undertakings in India of Caltex (India) Limited] Act, 1977
(4)Where all the moneys and other assets belonging to an existing trust are transferred to, and vested in, the Central Government or the successor Government company under this section, the trustees of such trust shall, as from the date of such vesting, stand discharged from the trust except as respects things done or omitted to be done before the date of such vesting.
