Section 3 in Hind Cycles Limited and Sen Raleigh Ltd. (Nationalisation) Rules, 1981
3. Time Limit For Intimation.
- Every mortgagee of any property which has vested under the Act in the Central Government or in a Government Company, as the case may be, and every person holding any charge, lien or other interest in, or in relation to, any such property shall give intimation of such mortgage, charge, lien, or other interest to the Commissioner within a period of thirty days from such date, as may be specified by the Central Government under Sec.18: Provided that if the Commissioner is satisfied that the mortgage of the person holding any charge, lien or other interest was prevented by sufficient cause from giving the intimation within the said period of thirty days, he may, after recording reasons in writing receive the intimation within a further period of thirty days and not thereafter.
