Section 4(2) in The Basumati Private Limited (Acquisition Of Undertaking) Act, 1974
(2)Any contract, whether express or implied, or other arrangement, whether under any statute or otherwise, in so far as it relates to the management of the business and affairs of the company in relation to its undertaking and in force immediately before the appointed day, or any order made by any court in so far as it relates to the management of the business and affairs of the company in relation to its undertaking and in force immediately before the appointed day, shall be deemed to have terminated on the appointed day.
