5Vesting of undertakings of Indian Dairy Corporation in National Dairy Development Board and dissolution of Indian Dairy Corporation

(1) On and from the appointed day, subject to the other provisions of this Act, all the undertakings of the Indian Dairy Corporation shall stand transferred to and vest in the National Dairy Development Board.

(2) Notwithstanding anything contained in the Companies Act, the Indian Dairy Corporation shall, on and from the appointed day, stand dissolved by virtue of the provisions of this Act.