Section 4(3)(a) in The Richardson and Cruddas Ltd.(Acquisition and Transfer of Undertaking) Act, 1972
(a)If, on the appointed day, a proceeding instituted by the old company in relation to the undertaking referred to in section 3 is pending, such proceeding may, as from that day, be continued by the Central Government or, on the transfer of the undertaking to the new company, by the new company.