Section 26 of NCLATU : Section 26: Assumption Of Liability
NCLATU
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Explanation using Example
Imagine that 'ElectroComp National Ltd.' was a large electronics manufacturing company that was taken over by the government under The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980. The company had various liabilities, including unpaid loans and employee provident fund dues. After the acquisition, the Commissioner responsible for managing the transfer is unable to...
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