Section 4(1) in Calcutta Tramways Company (Acquisition of Undertaking) Act, 1976
(1)The undertaking of the Company shall be deemed to include the properties, cash balances, reserve funds and other assets of the Company including lands, buildings, works, machinery, plants, rolling stocks, lines, mains, motors, dynamos, switchboards, apparatus, tools, implements, motor trucks and other like property which may be in the ownership, possession, custody or control of the Company in relation to its undertaking, immediately before the appointed day and all books of accounts, registers and all other documents of whatever nature relating thereto.Explanation. - For the avoidance of doubts, it is hereby declared that the expression" undertaking of the Company" does not include-(a)any debt due to the Company; and(b)any amount recoverable by the Company from its share-holders or directors.
