Section 5(2) in The Orissa Electricity Reform (Transfer of Undertakings, Assets, Liabilities, Proceedings and Personnel) Scheme Rules, 1996
(2)Upon such transfer the Transferee shall be responsible for all contracts, deeds, schemes, bonds, agreements and other instruments of whatever nature to which the Board was a party, subsisting or having effect on the effective date in the same manner as the Board and the State were liable immediately before the effective date and the same shall be in force and effect against or in favour of the Transferee and may be enforced as fully and effectively as if, instead of the Board or the State Government the Transferee had been a party thereto.
