Section 4(2) in The General Insurance (Emergency Provisions) Act, 1971
(2)On the appointment of a Custodian under sub- section (1), the charge of management of the undertaking of the insurer shall vest in him and all persons in charge of the management of such undertaking immediately before such appointment shall cease to be in charge of such management and shall be bound to deliver to the Custodian all books of account, registers or other documents in their custody relating to the undertaking of the insurer.
