Section 12 in Madura Sugars Limited (Acquisition and Transfer of Undertaking) Act, 1984
12. Duty of persons to account for assets, etc., in their possession.
(1)Any person who has, on the appointed day, in his possession or under his control, any assets, books, documents or other papers relating to the undertaking, which has vested in the Government or in an existing, or a new, Government company under this Act, and which belongs to the Company, or would have so belonged, if the undertaking has not vested in the Government or such Government company, shall be liable to account for the said assets, books, documents and other papers up to the Government or the Government company and shall deliver them up to the Government, or such Government company or to such person or body of person as the Government or the Government company may specify in this behalf.(2)The Government may take or cause to be taken all necessary steps for securing possession of the undertaking which has vested in them under section 4.(3)The Company or in case if any Custodian is in charge of the management of the undertaking as on the appointed day under any law, then, such Company or, as the case may be, such Custodian shall, within such period as the Government may allow in this behalf, furnish to the Government a complete inventory of all the property and assets, as on the appointed day, pertaining to such undertaking, which has vested in the Government under section 4, and for this purpose, the Government or the existing, or new, Government company shall afford to the company or the Custodian all reasonable facilities.
