On supersession of committees, the assets of a committee are vested in the Board, and when no new committee is appointed, the Board:
A
Should return the entire balance to the State Government.
B
Should employ the balance of the assets only for objects of public utility.
C
Should try to discharge all the assets and liabilities.
D
Should discharge the subsisting legal liabilities.
Correct Option:
B
Explanation
When a market committee is superseded, its assets vest in the Board. If no replacement committee or authority is appointed, the Board must first meet the committee's subsisting legal liabilities and then employ the remaining balance for objects of public utility in the notified area. This captures the ultimate statutory use of the balance.
