Section 22(2) in The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act, 1977
(2)Where any machinery, equipment or other property has vested in the Central Government or a Government company under this Act, but such machinery, equipment or other property does not belong to the Company, it shall be lawful for the Central Government or the Government company to continue to possess such machinery, equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the 4th day of May, 1972.
