Section 4(1) in The Bharat Hydro Power Corporation Limited (Acquisition and Transfer of Undertaking) Act, 1996
(1)On the appointed by the property, rights, liabilities and obligations specified herein below in respect of the company shall vest in the State Government:-(i)all the fixed assets of the company and all the documents relating to the company ;(ii)all the rights, liabilities and obligations of the company under hire purchase agreement, if any, for supply of materials or equipments made before the appointed day ;(iii)all the rights, liabilities and obligations of the company entered into bona fide before the appointed day not being a contract relating to borrowing or lending of money or to the employment of staff.
