Industries (Development ＆ Regulation) Act, 1951

Section - 18FG - Preparation of inventory of assets and liabilities and list of members and creditors of managed company

[Preparation of inventory of assets and liabilities and list of members and creditors of managed company.

18FG. For the purposes of this Act, the authorised person shall, as soon as may be, after taking over the management of the industrial undertaking of a company under section 18A or section 18AA or section 18FA,-

(a)-prepare a complete inventory of-
(i)-all properties, movable and immovable, including lands, buildings, works, workshops, stores, instruments, plant, machinery, automobiles and other vehicles, stocks of materials in the course of production, storage or transit, raw materials, cash balances, cash in hand, deposits in bank or with any other person or body or on loan, reserve funds, investments and book debts and all other rights and interests arising out of such property as were immediately before the date of taking over of the industrial undertaking in the ownership, possession, power or control of the company, whether within or without India, and all books of account, registers, maps, plans, sections, drawings, records, documents or titles of ownership of .... To read the full section download the app from Google Play store