Section 9(5) in The India Belting And Cotton Mills Limited (Acquisition And Transfer Of Undertakings) Act, 1992
(5)For the removal of doubts, it is hereby declared that the liabilities of the Company in relation to its undertakings which have vested in the State Government under section 3 shall be discharged from the amount specified in section 8, and also from the amount specified in sub-section (1) and the amount determined under sub-section (2) of this section, in accordance with the rights and interests of the creditors of the Company.
