State Agricultural Credit Corporations Act, 1968
43. Liquidation of the Corporation.
- No provision of law relating to
the winding up of companies or corporations shall apply to the Corporation
and the Corporation shall not be placed in liquidation save by order of
the Central Government made in consultation with the State Government and
in such manner as it may direct.
- Without prejudice to the
provisions of sub-section (1), any order made by the Central Government
for the liquidation of a Corporation may provide for all matters for
effectively winding up the affairs of the Corporation, including the
repayment of capital, disposal of any fund established under this Act, the
transfer of the business, property, assets and liabilities, rights,
interests, privileges and obligations of whatever nature of the
Corporation to such institution or institutions as the Central Government
may direct and payment, receipt or disposal of compensation arising out
of such transfer.
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