Section 3 in The Orissa Electricity Reform (Transfer of Undertakings, Assets, Liabilities, Proceedings and Personnel) Scheme Rules, 1996
3. Transfer of Assets to the State.
(1)With effect from the date of publication of these rules, all the assets, liabilities and proceedings which the Board owns or possesses shall stand transferred to and vest in the State and in consideration thereof all loans, subventions and obligations of the Board towards the State shah stand extinguished and cancelled, which shall be the consideration in full and final settlement of all claims of the Board, whatsoever.(2)Subject to the provisions of the Act and these rules, upon such transfer to the State under Sub-rule (1) and till further transfer to the Transferee under these rules and State Government shall be responsible for all contracts, deeds, schemes, bonds, agreements and other instruments of whatever nature to which the Board is a party, subsisting or having effect on the effective date as responsibilities, liabilities and obligations included in the transfer specified in Sub-rule (1) in the same manner as the Board was responsible, obligated or liable immediately before the effective date and these may be enforced fully and effectively as if, instead of the Board, the State had been a party thereto.(3)Nothing in Sub-rules (1) or (2) shall apply to rights, responsibilities, liabilities and obligations, in respect of the personnel arid personnel related matters including statutory dues such as salary wages, gratuity pension, provident fund, remunerations and retirement benefits.
