 the bilaspur commercial cor- poration (repeal) bill, 1960(to be introduced in u sabha)  statement of objects and reasonsthe bilaspur commercial corporation was established in 1948 for arranging the distribution of essential commodities at fair prices to the people of the erstwhile state of bilaspur after the integration of bilaspur with himachal pradesh in 1954, it was decided that, as in the other areas of the union territory, the distribution of essential commodities in the bilaspur area should also be channel~ed pqmarily through co-operative institutions the district co-operative federation, bilaspur, is now discharging this function and the activities of the bilaspur commercial corporation have ceased for all practical purposes it is, therefore, necessary to formally dissolve the corporation and dispose of its asset~ aj),d liabilities the bilaspur commercial eorporation act, 2005 bikrami, under which this corporation was established, does not, however, contain any provision for such dissolution the bill, therefor~, seeks to grovide for the repeal of the act and the dissolution of·the corporation it also provides that its assets and liabilities shall pass to the government on such dissolution new delhi; g b pant the 22nd august, 1960 clause 3 of the bill inter alia provides for the dissolution of the corporation and clause 4 makes the appropriate consequenti',11 provisions on the dissolution of the corporation, all its properties and assets will vest in the central government and all liabilities enforce-~bl~ agalnm: the corporation will be enfqrcalble against the central government on the 31st july, 1960; the realisable assets of the corporation were rs 10,554, out of which rs 5,829 had already been withdrawn by government and rs 5,225 remained to be recovered the liabilities of the corporation on the same date were rs 8,669 payable to various government departments and rs 1,885 to other parties ie, rs 10,554 in all liabilities to the extent of rs 1,388 may not materialise as the claimants are not traceable to meet the remaining liabilities a sum of rs 9,166 will be required out of the consolidated fund of india during the current financio,11 year a bill to repeal the bilaspurcommercial corporation act, 2005 bikrami and to provide for certain matters incidental thereto the president has, in pursuance of clauses (i) and (~) of article 117 of the constitution of india, recommenaed to lok sabha the introduction and consideration of the bill mn kaul, secretary (shri go'vind ballabh pant, minister of home affairs) 