Section 10(1) in Sick Textile Undertakings (Nationalisation) Act, 1974
(1)Where in pursuance of any decree, order or injunction of a court or otherwise, the Central Government or the Custodian was prevented from taking over the management of any sick textile undertaking, the owner of such sick textile undertaking shall,-(a)in the case of an undertaking the management of which was subsequently taken over by the Central Government at any time before the date on which the Ordinance was promulgated, within sixty days from such date; or(b)in the case of any other sick textile undertaking, the management of which could not be taken over by the Central Government before the date on which the Ordinance was promulgated, within sixty days from such date,render accounts in relation to the period commencing on the date of the notified order under the Industries (Development and Regulation) Act, 1951 (5 of 1951), or, as the case may be, on the date of commencement of the Sick Textile Undertakings (Taking Over of Management) Act, 1972 (72 of 1972), and ending on the date on which the management of the sick textile undertaking was taken over by the Central Government or the Custodian, as the case may be, with regard to the-(i)assets and stores of the sick textile undertaking acquired or sold during the said period;(ii)textile sold or despatched during the said period; and(iii)income derived by the owner from the sick textile undertaking during the said period.
