Section 33(1)(iii) in Jharkhand Agricultural Produce Markets Act, 2000
(iii)All the assets vesting in the Market Committee shall, subject to all its liabilities, vest in the Jharkhand Government except that in case a new Market Committee is constituted, they shall vest in the Jharkhand Government only till the date of the first meeting of the new Market Committee at which a quorum is present and thereafter re-vest in the new Market Committee.