Section 7(1) in The Bihar Electricity Supply Undertakings (Acquisition) Act, 1979
(1)The property, rights, liabilities and obligations specified below in respect of the undertaking shall vest in the State Government on the vesting date :-(i)all the fixed assets of the licensee and all the documents relating to the undertaking;(ii)all the rights, liabilities and obligations of the licensee under hire-purchase agreements, if any, for the supply of materials, or equipments made bona fide before the vesting date ;(iii)all the rights, liabilities, obligations of the licensee under any other contract entered into bona fide before the vesting date, not being a contract relation to the borrowing or lending of money of to the employment of staff.
