Section 4(1) in The Basumati Private Limited (Acquisition Of Undertaking) Act, 1974
(1)The undertaking of the company shall be deemed to include all assets, rights, powers, authorities and privileges and all properties, movable and immovable, machinery including rotaries and composing machine, reserve funds, investments and all other rights and interests arising out of such properties as were immediately before the appointed day in the ownership, power or control of the company in relation to the undertaking, or in the possession of the company irrespective of the fact whether the company has any right, title or interest in such properties or not, and all documents of whatever nature relating thereto but does not include the right, title and interest of the owners of lands and buildings in possession of the company, cash balance of the company and the amounts receivable by the company from its debtors.
