Section 21 in The Electricity Act, 2003
21. Vesting of utility in purchaser.–
Where a utility is sold under section 20 or section 24, then ... utility shall vest in the purchaser or the intending purchaser, as the case may be, free from any debt, mortgage or similar obligation
Indian Electricity Act, 1910
7. Vesting of the undertaking in the purchaser .-Where an undertaking is sold under section 5 or section 6, then upon ... undertaking shall vest in the purchaser or the intending purchaser, as the case may be, free from any debt, mortgage or similar obligation
Section 45 in Estate Duty act, 1953
45. Limitations on debts deductible.
- Where a debt or incumbracne has been incurred or created in whole ... such debt or incumbrance, and any property charged with any such debt incumbrance shall be deemed to pass freed from that debt or incumbrance: Provided
share, those options or warrants are assumed to be exercised and the debt or other instruments are assumed to be tendered. If tendering cash ... earnings per share calculation. Interest (net of tax) on any debt assumed to be purchased is added back as an adjustment to the numerator. Written
property to any person except the purchaser and requiring him to deliver possession of the property to the purchaser within the time stipulated ... thereof to any person except the purchaser and requiring the debtor to make payment thereof to the purchaser within the time stipulated
defaced bond. (4) A duplicate of the letter sent to the Public Debt Office, but not of its enclosures, shall also be sent ... above bond and the instalments thereupon have been stopped at the Public Debt Office, and that application is about to be made for the issue
above note and the interest thereupon has been stopped at the Public Debt Office, and that application is about to be made for the issue ... duplicate in favor of the proprietor. The public are captioned against purchasing or otherwise dealing with the above mentioned security. Name of person notifying. Residence
case of a debt due to the assessee, the amount due to the assessee under that debt, and where such amount or part thereof ... amount of the debt as reduced by the deduction to be allowed. (b) in the case of good will purchased by the assessee
interest received from Government or an Indian concern on monies borrowed or debt incurred by Government or the Indian concern in foreign currency; or [Substituted ... income received in respect of units, purchased in foreign currency, of a Mutual Fund specified under clause (23-D) of section
Transfer Of Property Act, 1882
56. Marshalling by subsequent purchaser.—
If the owner of two or more properties mortgages them to one person and then ... absence of a contract to the contrary, entitled to have the mortgaged-debt satisfied out of the property or properties not sold
