Section 4(1) in The Calcutta Tramways Company (Taking Over Of Management) Act, 1967
(1)With effect from the appointed day-(a)all persons in charge of the management of the undertaking of the Company, including persons holding offices as directors, agents or managers or any other managerial personnel of the Company immediately before the appointed day, shall cease to exercise any power of management and control in relation to the undertaking of the Company;(b)the undertaking of the Company shall be deemed to be in the custody of the Administrator who shall, as soon as may be after the appointed day, take all such steps as may be necessary to take the same into his custody or control;(c)the Administrator shall have all the powers of management and control in relation to the undertaking of the Company including any such powers as were exercised by the directors, agents or managers or any other managerial personnel of the Company immediately before the appointed day;(d)persons employed by the Company in connection with the undertaking of the Company and continuing in office immediately before the appointed day shall continue to remain under the terms and conditions of service in force immediately before the appointed day.
