In force · As amended up to 2026-08
3. Transfer and vesting of the textile undertakings.
(1) On the appointed day, every textile
undertaking and the right, title and interest of the Company in relation to every such textile undertaking
shall, by virtue of this Act, stand transferred to, and shall vest in, the Central Government.
(2) Every such textile undertaking which stands vested in the Central Government by virtue of
sub-section (1) shall, immediately after it has so vested, stand transferred to, and vested in, the National
Textile Corporation.
Source: India Code