Industrial (Development and Regulations) Act, 1951
8. Dissolution of Development Councils
(1) The Central Government may if it is satisfied that a Development Council should cease to continue in being, by notified order, dissolve that Development Council.
(2) On the dissolution of a Development Council under sub-section (1), the assets of the Development Council, after its liabilities, if any, are met there from, shall vest in the Central Government for the purposes of this Act.