law: Life Insurance Corporation Act, 1956 
  13. Duty to deliver
  
  possession of property and documents relating thereto.- 
  1.     
  
    Where
  
  any property appertaining to the controlled business of an insurer has been
  
  transferred to and vested in the Corporation under this Act, them,—
  a.      every person, in
  
  whose possession, custody or control any such property may be, shall deliver
  
  the property to the corporation forthwith;
  b.     any person who, on
  
  the appointed day, has in his possession, custody or control any books,
  
  documents or other papers relating to such controlled business shall be liable
  
  to account for the said books, documents, and papers to the Corporation, and
  
  shall deliver them to the Corporation or to such person as the Corporation may
  
  direct.
  1.     
  
  
  2.     
  
    In
  
  particular, all the assets of an insurer appertaining to life insurance
  
  business held in deposit by the Reserve Bank of India under the Insurance Act
  
  or by trustees in trust shall be delivered to the Corporation.
  3.     
  
    Without
  
  prejudice to the other provisions contained in this section, it shall be lawful
  
  for the Corporation to take all necessary steps for securing possession of all
  
  properties which have been transferred to and vested in it under this Act.