10. 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,—
(a) where a direction has been made by the Central Government under sub-section (1) of
section 5, vest, on and from the date specified in such direction, in the existing Government company
specified therein; or
(b) where a declaration has been made under sub-section (1) of section 6, vest, on and from the
date of such declaration, in the new Government company specified therein,
and thereupon the existing, or new, Government company, as the case may be, shall be entitled to
exercise, to the exclusion of all other persons, all such powers and do all such things as the Company is
authorised to exercise and do in relation to the undertakings owned by it.
11. Duty of persons in charge of management of the undertakings of the Company to deliver all
assets, etc.—(1) On the vesting of the management of the undertakings of the Company in the existing, or
new, Government company, all persons in charge of the management of the undertakings of the Company
immediately before such vesting, shall be bound to deliver to such Government company, all assets,
books of account, registers and other documents in their custody relating to the undertakings of the
Company.
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(2) The Central Government may issue such directions as it may deem desirable in the circumstances
of the case to the existing, or new, Government company and such Government company 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.
12. 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 of the undertakings owned by the Company, which have vested in the Central Government
or in the existing, or new, Government company under this Act, and which belong to the Company or
would have so belonged, if the undertakings owned by the Company had not vested in the Central
Government or such Government company, shall be liable to account for the said assets, books,
documents and other papers to the Central Government or the Government company and shall deliver
them up to the Central Government or the Government company or to such person or persons as the
Central Government or the Government company may specify in this behalf.
(2) The Central Government may take or cause to be taken all necessary steps for securing possession
of the undertakings of the Company which have vested in it under section 3.
(3) The Company shall, within such period as the Central Government may allow in this behalf,
furnish to that Government a complete inventory of all its properties and assets, as on the appointed day,
pertaining to the undertakings which have vested in the Central Government under section 3, and, for this
purpose, the Central Government or the existing, or new, Government company shall afford to the
Company all reasonable facilities.