The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977
Section 24. Assumption of liability
(1) Where any liability of the Company arising out of al or any of the items specified in category I, category II, category III or category IV of Schedule are not discharged fully by the Commissioner out of the amount paid to him under this Act, the Commissioner shall intimate in writing to the Central Government the extent of the liability which remains undischarged, and that liability shall be assumed by the Central Government.
(2) The Central Government may, by order, direct the Government company to take over any liability assumed by that Government under sub-section (1), and no receipt of such direction, it shall be the duty of the Government company to discharge such liability.