Section 26(3) in The Chennai Metropolitan Water Supply and Sewerage Act, 1978
(3)The assets relating to water supply and sewerage service referred to in sub-section (1) shall be deemed to include all rights, powers, authorities and privileges, and all property, movable and immovable, including cash balances, deposits, funds and investments and all other interests and rights in, or arising out of, such property and all books, accounts and documents relating thereto as may be in the possession or control of a local authority immediately before the notified date, and the liabilities relating thereto shall be deemed to include all debts, liabilities and obligations pertaining to such services.
