Section 14 in Madura Sugars Limited (Acquisition and Transfer of Undertaking) Act, 1984
14. Provident fund and other funds.
(1)Where the Company has established a provident fund, superannuation fund, welfare fund or other fund for benefit of persons employed in its undertaking, the monies relatable to the employees, whose services have become transferred by or under this Act to the Government or an existing, or a new, Government company shall, out of the monies standing, on the appointed day to the credit of such provident fund, superannuation fund, welfare fund or other fund, stand transferred to, and shall vest in the Government or the Government company, as the case may be.(2)The monies which stand transferred under sub-section (1) to the Government or the existing or new, Government company, as the case may be, shall be dealt with by the Government or the Government company in such manner as may be prescribed.
