Constitution of India, 1949
294.Succession to property, assets, rights,
liabilities and obligations in certain cases.-
from the commencement of this Constitution-
(a) all property and assets which immediately
before such commencement were vested in His Majesty for the purposes of the
Government of the Dominion of India and all property and assets which
immediately before such commencement were vested in His Majesty for the
purposes of the Government of each Governor’s Province shall vest respectively
in the Union and the corresponding State, and
(b) all rights, liabilities and obligations of
the Government of the Dominion of India and of the Government of each
Governor’s Province, whether arising out of any contract or otherwise, shall be
the rights, liabilities and obligations respectively of the Government of India
and the Government of each corresponding State, subject to any adjustment made
or to be made by reason of the creation before the commencement of this
Constitution of the Dominion of Pakistan or of the Provinces of West Bengal,
West Punjab and East Punjab.