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Section 10 – The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

Section 10. Duty of persons to account for assets, etc.in their possession

(1) Any person who has, on the appointed day, in his possession or under his control any assets, books, documents or other papers relating to any sick tea unit owned by a tea company which has vested in the Tea Trading Corporation under this Act shall be liable to account for the said assets, books, documents and other papers to the Tea Trading Corporation and shall deliver them up to that Corporation or to such person or persons as that Corporation may specify in this behalf.

(2) The Tea Trading Corporation may take or cause to be taken all necessary steps for securing possession of the sick tea units of the tea companies which have vested in that Corporation under this Act.

(3) Every tea company shall, within such period as the Tea Trading Corporation may allow in this behalf, furnish to that Corporation a complete inventory of all property and assets, as on the appointed day pertaining to its sick tea unit, which have vested in that Corporation under sub-section (2) of section 3, and for this purpose, the Corporation shall afford to such company all reasonable facilities.

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The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

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