Section 34(b) in The Faridabad Development Corporation Act, 1956
(b)in particular, and without prejudice to the generality of the foregoing provision, -(i)all property and assets vesting in the body known as the Faridabad Development Board shall vest in the Corporation;(ii)all rights, liabilities and obligations of the body known as the Faridabad Development Board, whether arising out of any contract or otherwise, shall be the rights, liabilities and obligations, respectively, of the Corporation; and(iii)all leases granted by, all contracts made with, and all instruments executed on behalf of, the body known as the Faridabad Development Board shall be deemed to have been granted by, made with, or executed on behalf of, the Corporation and shall have effect accordingly.
