Chapter IV
Management, Etc., of The Undertakings of The Company
10. Management, etc., of the undertakings of the Company.-
(1) The State Government in which the undertakings of the Company and the right, title and interest of the Company in relation to its undertakings vested under section 6 shall be entitled to exercise all such powers and do all such things as the Company is authorised to exercise and do in relation to its undertakings.
(2) The general superintendence, direction, control and management of the affairs and business of the undertakings of the Company, the right, title and interest in relation to which have vested under section 3 in the Central Government and, under section 6, in the State Government, shall,-
(a) where a direction has been made by the State Government under sub-section (1) of section 7, vest in the Government company specified in such direction; or
(b) where no such direction has been made by the State Government, vest in one or more Custodians appointed under sub-section (3),
and thereupon the Government company so specified or the Custodian so appointed shall be entitled to exercise all such powers and do all such things as the Company is authorised to exercise and do in relation to its undertakings.
(3) The State Government may appoint one or more individuals or a Government company as the Custodian of the undertakings of the Company in relation to which no direction has been made by it under sub-section (1) of section 7.
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