Section 10(b) in The Inchek Tyres Limited and National Rubber Manufacturers Limited (Nationalisation) Act, 1984
(b)where a declaration has been made under sub-section (1) of section 7, vest, on and from the date of such declaration, in the new Government company specified therein; and thereupon the existing, or new, Government company so specified, shall be entitled to exercise, to the exclusion of all other persons all such powers and do all such things as either, or both, of the two companies, is or are, authorised to exercise and do in relation to its or their undertakings.
