Section 16(1) in The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act, 1977
(1)The Central Government or the Government company, as the case may be, shall be entitled to receive up to the specified date, to the exclusion of all other persons, any money due to the Company in relation to its undertakings which have vested in the Central Government, or the Government company, realised after the appointed day notwithstanding that the realisations pertain to a period prior to the appointed day.
