Section 38(2) in Road Transport Corporations Act, 1950
(2)Upon the publication of a notification under sub-section(1) superseding a Corporation(a)all the [Directors] [Substituted for " member" by Act 63 of 1982, Section 16 and Sch. (w.e.f. 13.11.1982).] of the Corporation shall, as from the date of supersession ,vacate their offices as such [Directors] [Substituted for " member" by Act 63 of 1982, Section 16 and Sch. (w.e.f. 13.11.1982).];(b)all the powers and duties which may, by or under the provisions of this Act or of any other law, be exercised or performed by or on behalf of the Corporation shall, during the period of supersession , be exercised and performed by such person or persons as the State Government may direct;(c)all property vested in the Corporation shall, during the period of supersession ,vest in the State Government.
