https://www.taxtmi.com/caselaws?id=286652 Liabilities incurred by a textile company before the appointed day, including statutory damages for delayed provident fund remittance, remained enforceable against the company under the acquisition statute. Although the undertakings vested in the Central Government, the statutory scheme preserved pre-appointed-day liabilities and did not transfer them to the Central Government or the National Textile Corporation. Damages for contravention of provident fund obligations arising before acquisition were therefore outside the liabilities shifted to the transferee, and recovery against the company was upheld. en-us Sat, 30 Jan 1999 00:00:00 +0530 Sat, 07 Mar 2020 18:49:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286652 Liabilities incurred by a textile company before the appointed day, including statutory damages for delayed provident fund remittance, remained enforceable against the company under the acquisition statute. Although the undertakings vested in the Central Government, the statutory scheme preserved pre-appointed-day liabilities and did not transfer them to the Central Government or the National Textile Corporation. Damages for contravention of provident fund obligations arising before acquisition were therefore outside the liabilities shifted to the transferee, and recovery against the company was upheld. Case-Laws Indian Laws Sat, 30 Jan 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286652