Section 12 in Tamil Nadu Electricity Supply Undertakings (Acquisition) Act, 1954
12. Repayment of debentures, loans, etc.
- Notwithstanding anything to the contrary in any contract or agreement or in any law for the time being in force, all loans, debentures, mortgages and the like outstanding against the licensee on the vesting date may be and shall be deemed always to have been repayable Toy the Government, or the licensee, or the Special Officer although the time for their repayment may or might not have arrived.
