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[Cites 0, Cited by 1] [Section 6(2)] [Section 6] [Entire Act]

State of Tamilnadu - Subsection

Section 6(2)(a) in Tamil Nadu Electricity Supply Undertakings (Acquisition) Act, 1954

(a)If compensation is payable in respect of an undertaking under Basis C, only the property, rights, liabilities and obligations specified herein shall vest or be deemed to have vested in the Government on the vesting date -
(i)all the fixed assets of the licensee and all the documents relating to the undertaking;
(ii)all the rights, liabilities and obligations of the licensee under hire-purchase agreements, if any, for the supply of materials or equipment made bonafide before the vesting date;
(iii)all the rights, liabilities and obligations of the licensee under any other contract entered into bonafide before the vesting date not being a contract relating to the borrowing or lending of money.