(1)The Government may, by notification in the [Telangana Gazette] [Throughout the Act 'Official Gazette' wherever they occur substituted by 'Andhra Pradesh Gazette', (Act No.15 of 1962) and further 'Andhra Pradesh' substituted by 'Telangana' by G.O.Ms.No.45, Law (F) Department, dated 01.06.2016.], declare that with effect from such date as may be specified in the notification, the Board shall be dissolved.(2)With effect from the date specified in the notification under sub-section (1)-(a)all properties, funds, and dues which are vested in and realisable by the Board shall vest in and be realisable by the Government,(b)all liabilities enforceable against the Board shall be enforceable against the Government to the extent of the properties, funds and dues vested in and realised by the Government.(3)Nothing in this section shall affect the liability of the Government in respect of loans or debentures guaranteed under sub-section (5) of section 62.
