Section 7(1) in Kerala Spinners, Alappuzha (Acquisition and Transfer of Undertaking) Act, 2010
(1)An amount equal to the value of the assets of the sick textile undertaking transferred to, and vested in, the State Textile Corporation under sub-section (2) of section 3, shall be deemed to be the contribution made by the State Government to the equity capital of the State Textile Corporation; and for the contribution so made, the State Textile Corporation shall issue (if necessary after amending its memorandum and articles of association) to the State Government paid-up shares, in its equity capital, having a face value equal to the amount specified against the sick textile undertaking in the corresponding entry in column (3) of the First Schedule.
