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[Cites 0, Cited by 0] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(2) in Brentford Electric (India) Limited (Acquisition And Transfer Of Undertakings) Act, 1987

(2)Any liability arising in respect of advances made to the Company for the supply of articles, or in respect of materials supplied to the Company, after the management of the undertakings of the Company had been taken over by the Central Government shall, on and form the appointed day, be the liability of the Central Government or of Andrew Yule, as the case may be, and shall be discharged by that Government or Andrew Yule, as and when payment for such advances or supplies becomes due and payable.