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[Cites 0, Cited by 2] [Section 39] [Entire Act]

Union of India - Subsection

Section 39(2) in Road Transport Corporations Act, 1950

(2)In the event of a Corporation being placed in liquidation, the assets of the Corporation, after meeting the liabilities, if any, shall be divided among the Central and the State Government and such other parties, if any, as may have subscribed to the capital in proportion to the contribution made by each of them to the total capital of the Corporation.
[Delhi].In its application to the Union territory of Delhi , in Section 39, in sub-S. (2), for the words Central and the State Government, substitute State Government Delhi Road Transport Laws (Amendment) Act, 1971 (71 of1971), Section 7 and Sch . I (w.r.e.f .3-11-1971 ).