Section 14 in Anglo-French Textiles Limited (Acquisition and Transfer of Textile Undertaking) Act, 1986
14. Certain powers of the Corporation.
(1)The Corporation shall be entitled to receive upto the specified date, to the exclusion of all other persons, any money due to the textile undertaking, realised after the appointed day, notwithstanding that the realisation pertain to a period prior to the appointed day.(2)Save as otherwise provided in this Act, the liabilities in relation to the textile undertaking in respect of any period prior to the appointed day shall be the liabilities of the owner of the textile undertaking.
