Section 16(1) in The Central India Spinning, Weaving and Manufacturing Company Limited, The Empress Mills, Nagpur (Acquisition and Transfer of Undertaking) Act, 1986
(1)The State Government or the Corporation or, where a Direction has been issued by the State Government under sub-section (1) of section 6, the new Government company, as the case may be, shall be entitled to receive up to the specified date, to the exclusion of all other persons, any money due to the proprietors, in relation to their undertaking which has vested in the State Government, or the Corporation or in the new Government company, and realised after the appointed day, notwithstanding that the realisation pertains to a period prior to the appointed day.
