Section 5 in Rajasthan Power Sector Reforms Transfer Scheme 2000
5. Transfer of Assets, Liabilities, etc. by the State Government.
(1)The Assets and Liabilities forming part of Generation Undertakings as set out in Schedule-A shall stand transferred to and vest in RVUN on and from the effective date of transfer without any further act or thing to be done by the State Government or the Board or RVUN or any other person, subject, however, to the terms and conditions of this Scheme.(2)The Assets and Liabilities forming part of Transmission Undertakings as set out in Schedule-B shall stand transferred to and vest in RVPN on and from the effective date of transfer without any further act or thing to be done by the State Government or the Board or RVPN or any other person, subject, however, to the terms and conditions of this Scheme.(3)The Assets and Liabilities forming part of Distribution Undertakings as set out in Schedules-C to E shall stand transferred to and vest in the Jaipur Discom, Ajmer Discom and Jodhpur Discom respectively on and from the effective date of transfer without any further act or thing to be done by the State Government or the Board or Distribution Companies or any other person, subject, however, to the terms and conditions of this Scheme.(4)On such transfer and vesting of the Assets and Liabilities in terms of sub-rule (1) to RVUN or in terms of sub-rule (2) to RVPN or in terms of sub-rule (3) to respective Distribution Companies, as the case may be, the Transferee shall be responsible for all contracts, rights, deeds, schemes, bonds, agreements and other instruments of whatever nature pertaining to the Undertakings transferred to it, to which the Board was initially a party, subsisting or having effect on the effective date of transfer, in the same manner as the Board was liable immediately before the effective date of transfer, and the same shall be in full force and effect against or in favour of the Transferee and may be enforced as fully and effectively as if the Transferee had been a party thereto instead of the Board.(5)As consideration for the transfer and vesting of the Assets and Liabilities to RVUN or RVPN or Distribution Companies as mentioned in sub-rules (1), (2), (3) and (4) and Schedules-A to E as the case may be, the State Government will be issued shares and/or instruments as specified in Schedules-A to E respectively.
