Section 28(9) in The Gujarat Electricity Industry (Reorganisation and Regulation) Act, 2003
(9)All debts and obligations incurred, all contracts all entered into and all matters and things engaged to be done by, with or for the Government Electricity Industry, or the First Transferee before the relevant transfer scheme becomes effective shall, to the extent specified in the relevant transfer scheme, be deemed to have been incurred, entered into or done by the First or the Second Transferee, as the case may be.
