Section 7(2) in Madura Sugars Limited (Acquisition and Transfer of Undertaking) Act, 1984
(2)Where the right, title and interest of the existing Government company in relation to the undertaking vest under sub-section (1) in a new Government company, that new Government company shall, on and from the date of such vesting, be deemed to have become the owner in relation to such undertaking and the rights and liabilities of the existing Government company in relation to such undertaking shall, on and from the date of such vesting, be deemed to have become the rights and liabilities, respectively, of that new Government company.
