8Duties of persons in charge of management by undertakings to deliver all assets

(1) On the vesting of the management of the undertakings in the Foundation or on the appointment of a Custodian under section 7, all persons in charge of the management of the undertakings immediately before such vesting or appointment shall be bound to deliver to the Foundation or Custodian, as the case may be, all assets, books of account, registers and other documents in their custody relating to the undertakings.

(2) The Central Government may issue such directions as it may deem desirable in the circumstances of the case to the Custodian as to the powers and duties of the Custodian and such Custodian 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 shall be conducted or in relation to any other matter arising in the course of such management.

(3) Any person, who on the appointed day, has in his possession or under his control, any books, documents or other papers relating to the undertakings shall be liable to account for the said books, documents or other papers to the Central Government or the Foundation, as the case may be, and shall deliver them up to the Central Government or the Foundation or to such person or body of persons as the Central Government or the Foundation may specify in this behalf.

(4) The Central Government or the Foundation may take or cause to be taken, all necessary steps for securing possession of all undertakings which have vested in the Central Government or the Foundation under this Act.

(5) The Society, trust or body 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 and, for this purpose, the Central Government or the Foundation shall afford to the Society, trust or body all reasonable facilities.