6. Vesting of undertakings in the Steel Authority of India and dissolution of Bolani Ores
Limited.—On the appointed day—
(a) all the undertakings of the Bolani Ores Limited, the shares of which have vested in the Steel
Authority of India by virtue of section 5, shall stand transferred to, and shall vest in, the Steel
Authority of India;
(b) the Bolani Ores Limited shall stand dissolved.
7. “Undertaking” meaning of.—For the purposes of this Act, the undertakings of the dissolved
company shall be deemed to include all assets, rights, lease-holds (including mining leases), industrial or
other licences, powers, authorities and privileges and all property, movable and immovable, including
lands, buildings, works, mines, workshops, projects, stores, instruments, machinery, automobiles and
other vehicles, equipment, cash or bank balances, cash in hand, reserve funds, investments and book debts
and all other rights and interests in, or arising out of, such property as were immediately before the
appointed day in the ownership, possession, power or control of the dissolved company and all books of
account, registers, maps, drawings, records of survey and all other documents of whatever nature relating
thereto, and shall also be deemed to include all borrowings liabilities and obligations of whatever kind of
the dissolved company.
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