9. Management, etc., of the undertakings of the Company.—The general superintendence,
direction, control and management of the affairs and business of the undertakings of the Company, the
right, title and interest in relation to which have vested in the Central Government under section 3, shall,
where a direction has been made by the Central Government under sub-section (1) of section 6, vest in the
Cement Corporation, and thereupon the Cement Corporation shall be entitled to exercise, to the exclusion
of all other persons, all such powers and do all such things as the Company was authorised to exercise
and 1
[do in relation to its undertakings, including the power to dispose off the assets of the undertakings
of the Company vested upon it, by the notification of the Government of India, in the Ministry of Industry
(Department of Industrial Development) number S.O. 502(E), dated the 23rd June, 1981, under
sub-section (1) of section 6, if such disposal of the assets is considered necessary by the Cement
Corporation due to legal or financial considerations].
1. Subs. by Act 3 of 2007, s. 2, for “do in relation to its undertakings” (w.e.f. 29-12-2006).
6
10. Duty to deliver possession of the undertakings of the Company and documents relating
thereto.—(1) Notwithstanding any judgment, decree or order of any court, tribunal or other authority or
anything contained in any law for the time being in force, the Official Liquidator of the Company or any
other person, in whose possession or custody or under whose control the undertakings of the Company or
any part thereof may be, shall forthwith deliver possession of the undertakings of the Company or any
part thereof to the Central Government, or where the undertakings of the Company are vested under
section 6 in the Cement Corporation, to that Corporation.
(2) On the vesting of the management of the undertakings of the Company in the Cement
Corporation, the Official Liquidator of the Company or any other person who has, on the appointed day,
in his possession or custody or under his control any books, documents or other papers relating to the
undertakings of the Company immediately before such vesting or appointment, shall be bound to deliver
the said books, documents or other papers to the Cement Corporation or to such person as the Central
Government or the Cement Corporation, as the case may be, may specify in this behalf.
(3) The Central Government may take or cause to be taken all necessary steps for securing possession
of the undertakings which have vested in it under section 3.
(4) The Central Government may issue such directions as it may deem desirable in the circumstances
of the case to the Cement Corporation and that Corporation may also, if it is considered necessary so to
do, apply to the Central Government at any time for instructions as to the manner in which the
management of the undertakings of the Company shall be conducted or in relation to any other matter
arising in the course of such management.
11. Duty to furnish particulars.—(1) The Company shall, within such period as the Central
Government may allow in this behalf, furnish to that Government or to the Cement Corporation a
complete inventory of all the properties and assets of the Company as on the appointed day pertaining to
the undertakings which have vested in the Central Government or the Cement Corporation, as the case
may be.
(2) So much of the obligation of the Company, under sub-section (1) as relates to the properties and
assets of the Company in the possession, custody or control of the Official Liquidator of the Company
shall be discharged by him.