Section 12(1) in Bengal Chemical And Pharmaceutical Works Limited (Acquisition And Transfer of Undertakings) Act, 1980
(1)Where, in pursuance of any decree, order or injunction of any court or otherwise-(a)the authorised persons were, after the date on which the management of the undertakings of the Company was taken over by them under section 18A of the Industries (Development and Regulation) Act, 1951(65 of 1951) and before the appointed day; or(b)the Central Government or the existing, or new, Government company, as the case may be, is, on or after the appointed day,Prevented from taking over the management of any part of the undertakings of the Company, the Company, or any other person in possession, custody or control of such part, shall, in relation to the period commencing on the date of such taking over and ending on the date on which such part was or is handed over to the authorised persons or, as the case may be, the Central Government or the existing, or new, Government company, render, within a period of sixty days from the appointed day or where such part was so handed over after the appointed day, within a period of sixty days from the date of such handing over, accounts with regard to the-(i)assets and stores of the undertakings or any part thereof, acquired, utilised or sold during the said period; and(ii)income derived by the Company or any other person from the undertaking or any part thereof during the said period;to the Central Government or the existing, or new, Government company, as the case may be.
