Section 30A(2) in Karnataka Khadi and Village Industries Act, 1956
(2)On and from the said date,-(a)all properties and funds which immediately before the said date were in possession of the Board for the purpose of this Act shall vest in the State Government;(b)all members shall vacate office as members of the Board; and(c)all rights, obligations and liabilities (including any liabilities under any contract) of the Board shall become the rights, obligations and liabilities of the State Government.]
