Section 15 in The Gujarat Sick Textile Undertakings (Nationalisation) Act, 1986
15. Payment by the State Government to the Commissioner.
(1)The State Government shall, within ninety days from the specified date, pay in cash to the Commissioner, for payment to the owner of the sick textile undertakings, an amount equal to the amount specified against the sick textile undertakings in the First Schedule after deducting therefrom the amount paid under section 24 and shall also pay to the Commissioner such sums as may be due to the owner of the sick textile undertaking under section 8.(2)A deposit account shall be opened by the State Government, in favour of the Commissioner, in the Public Account of the State, and every amount paid under this Act, to the Commissioner shall be deposited by him to the credit of the said deposit account in the Public Account of the State and thereafter the said deposit account shall be operated by the Commissioner.(3)Separate records shall be maintained by the Commissioner in respect of each sick textile undertakings in relation to which payments have been made to him under this Act.(4)Interest accruing on the amounts standing to the credit of the deposit account referred to in sub-section (2) shall accrue to the benefit of the owners of the sick textile undertakings.
