Section 6(3) in The Textile Undertakings (Nationalisation) Act, 1995
(3)On the transfer to a subsidiary textile, corporation of any textile undertaking or any part thereof, the liabilities of the National Textile Corporation, referred to in sub-section (2) of section 5, shall, in so far as they relate to the textile undertaking or part thereof so transferred to the subsidiary textile corporation, become on and from the date of such transfer, the liabilities of the subsidiary textile corporation and shall be discharged by the subsidiary textile corporation as and when any_ such liability is required to be discharged.
