Section 7(1) in The Tinsukia and Dibrugarh Electric Supply Undertakings (Acquisition) Act, 1973
(1)The property, rights, liabilities and obligations specified below in respect of the undertaking shall vest in the 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 equipment made bona fide before the vesting date ;(iii)all the rights, liabilities and obligations of the licensee under any other contract entered into bona fide before the vesting date, not being a contract relating to the borrowing or lending of money, or to the employment of staff.
