Section 6(1) in Caltex [Acquisition of Shares of Caltex Oil Refining (India) Limited And of the Undertakings in India of Caltex (India) Limited] Act, 1977
(1)The undertaking of Caltex (India) referred to in section 5 shall be deemed to include all assets, rights, powers, authorities and privileges and all property, movable and immovable, cash balances, reserve funds, book debts, investments and all other rights and interests in, or arising out of, such property as were, immediately before the appointed day, in the ownership, possession, power or control of Caltex (India), in relation to its undertakings in India, and all books of account, registers, records and all other documents of whatever nature relating thereto and shall also be deemed to include all borrowings, liabilities (including the liability for the payment of any pension and other pensionary benefits to the persons employed in relation, to its undertakings in India) and obligations of whatever kind then subsisting of Caltex (India) in relation to its undertakings in India :Provided that remittances outside India of any money for the payment of pension or other pensionary benefits shall be subject to the rules and regulations for the time being in force in relation to such remittances.
