Section 15(1) in Coking Coal Mines (Nationalisation) Act, 1972
(1)On the vesting of the management of a coking coal mine or coke oven plant in a Government company or on the appointment of a Custodian, all person in charge of the management of such coking coal mine or coke oven plant immediately before such vesting or appointment, shall be bound to deliver to the Government company or Custodian, as the case may be, all assets, books of account, registers or other documents in their custody, relating to the coking coal mine or coke oven plant and any contract, whether express or implied, providing for the management of the coking coal mine or coke oven plant made before the appointed day between such persons and the owners of such coking coal mine or coke oven plant, shall be deemed to have terminated on the date on which the management of the coking coal mine or coke oven plant vests in the Government company or the Custodian so appointed.
