Where any gratuity, welfare or other fund has been
established by a dissolved company or any other company in respect of a transferred unit for the benefit
of its employees and is in existence immediately before the appointed day, all moneys and other assets
standing to the credit of or relatable to such gratuity, welfare or other fund shall vest in the corresponding
unit of the Integral Company or other transferee company, as the case may be.
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Section 20
Gratuity, Welfare and Other Funds.
The Public Sector Iron and Steel Companies (Restructuring) and Miscellaneous Provisions Act, 1978