Section 13 in Gujarat Closed Textile Undertakings (Nationalisation) Act, 1986
13. Payment by the State Government to the Commissioner.
(1)The State Government shall, within ninty days from the specified date, pay in cash to the Commissioner for payment to the owner of the specified textile undertaking, an amount equal to the amount specified against the specified textile undertaking in First Schedule after deducting therefrom any amount paid under clause (b) of sub-section (4) of Section 11 and shall also pay to the Commissioner such sums as may be due to the owner of the specified textile undertaking under sub-section (2) of Section 7.(2)A deposit account shall be opened by the State Government, in favour of the Commissioner, in the public account of the State, and every amount paid under this Act to the Commissioner shall be deposited by him to the credit of the said deposit account in the public account of the State and thereafter the said deposit account shall be operated by the Commissioner.(3)Separate records shall be maintained by the Commissioner in respect of each specified textile undertaking in relation to which payments have been made to him under this Act.(4)Interest accruing on the amounts standing to the credit of the deposit account referred to in sub-section (2) shall accrue to the benefit of the owners of the specified textile undertakings.
