Section 10H(2) in Assam Khadi and Village Industries Board Act, 1955
(2)On and from the said date -(a)All properties and funds, which immediately before the possession of the Board for the purposes of this Act shall vest in the State Government;(b)all members, shall vacate office as members of the Board; and(c)all rights, obligations and liabilities (including any liabilities under any contract) of the Board shall become the rights, obligations and liabilities of the State Government.]
