Section 36(2) in Jammu and Kashmir Khadi and Village Industries Board Act, 1965
(2)On and from the said date of dissolution,-(a)all properties and funds, which immediately before the said date were in the possession of the Board for the purpose of this Act, shall vest in the Government ;(b)all members shall vacate office as members of the Board ; and(c)all rights, obligations and liabilities, (including any liabilities under any contract) of the Board shall become the rights, obligations and liabilities of the Government :Provided that the rights, obligations and liabilities of the Government under this clause shall be only so far as they related to the period after 1st April, 1971.
