Section 23 in The India Belting And Cotton Mills Limited (Acquisition And Transfer Of Undertakings) Act, 1992
23. Disbursement of amounts to the Company and possession of certain machinery, equipment, etc.
(1)If, out of the moneys paid to him in relation to the undertakings of the Company, there is a balance left after meeting the liabilities in accordance with the priorities specified in the Schedule, the Commissioner shall disburse such balance to the Company.(2)Where any machinery, equipment or other property has vested under this Act in State Government or the existing, or new, Government company, as the case may be, but such machinery, equipment or other property does not belong to the Company, it shall be lawful for the State Government or the existing, or new, Government company, as the case may be, to continue to possess such machinery, equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the appointed day.
