• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

To divide assets, liabilities of J&K between 2 UTs, Centre sets up panel

|

New Delhi, Sep 10: With days to go before Jammu and Kashmir is made a Union Territory, the Centre has set up a panel to divide the assets and liabilities between J&K and Ladakh.

J&K and Ladakh will become Union Territories on October 31. While former defence secretary Sanjay Mitra will be the chairman of the committee, retired IAS officer Arun Goyal and retired Indian Civil Accounts Service (ICAS) officer Giriraj Prasad Gupta will be its members.

To divide assets, liabilities of J&K between 2 Its, Centre sets up panel

"In exercise of the powers conferred by Section 84 and Section 85 of the Jammu and Kashmir Reorganisation Act, 2019, the central government hereby constitutes the advisory committee," the home ministry notification said.

Month after abrogation of Article 370, 8 Lashkar terrorists arrested in J&K's Sopore

    J&K ceases to be a state, now UT: What is the difference?

    According to section 84 of the Act, the assets and liabilities of the existing state of J&K have to be divided between the Union territories of Jammu and Kashmir, and Ladakh.

    On August 5, the Centre announced the abrogation of the special status given to J&K under Article 370 and bifurcation of the state into the two UTs.

    The apportionment of the assets and liabilities of the existing state of J&K shall be subject to the recommendations of a committee constituted by the central government, it said.

    According to Section 85 of the Act, the central government, by order, can establish one or more advisory committees for apportionment of assets, rights and liabilities of the companies and corporations constituted for the existing state of J&K between the two Union territories.

    For Daily Alerts
    Get Instant News Updates
    Enable
    x
    Notification Settings X
    Time Settings
    Done
    Clear Notification X
    Do you want to clear all the notifications from your inbox?
    Settings X
    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more