Section 5(2) in Bengal Chemical And Pharmaceutical Works Limited (Acquisition And Transfer of Undertakings) Act, 1980
(2)Any liability incurred by, or arising against, the Company on or after the 1st day of April, 1979, including the liability to repay loans advanced to the Company by the Central Government on or after that day, together with the interest due thereon, shall be liability;-(a)Where the undertakings of the Company are directed, under section 6, to vest in an existing Government company, of that existing Government company; or(b)where the undertakings of the Company become transferred by virtue of the provisions of section 7, to a new Government company, of that new Government Company; orand shall be discharged by such Government company as and when the discharge of such liability becomes due.
