Section 16(3) in The Gujarat Sick Textile Undertakings (Nationalisation) Act, 1986
(3)Save as otherwise provided in this Act the liabilities in relation to the sick textile undertaking in respect of any period prior to the appointed day which have not been discharged by the Corporation shall be the liabilities of the owner of that sick textile undertaking.Explanation. - For the purposes of this section the expression "custodian' means,-(a)in the case where the management of a textile undertaking specified in the First Schedule has been taken over by the Central Government under the Industries (Development and Regulation) Act, 1951 (65 of 1951), the body or body of persons authorised by the Central Government to take over the management, and(b)in the case of a textile undertaking specified in the First Schedule which has vested in the Corporation as a lessee, the Corporation.
