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Section 10FP – The Companies Act,1956

The Companies Act, 1956

10FP. Power to seek assistance of Chief Metropolitan Magistrate and District Magistrate.

1[10FP. Power to seek assistance of Chief Metropolitan Magistrate and District Magistrate.

(1) The Tribunal or any operating agency, on being directed by the Tribunal may, in order to take into custody or under its control all property, effects and actionable claims to which a sick industrial company is or appears to be entitled, request, in writing, the Chief Metropolitan Magistrate or the District Magistrate within whose jurisdiction any property, books of account or any other document of such sick industrial company, be situate or be found, to take possession thereof, and the Chief Metropolitan Magistrate or the District Magistrate, as the case may be, shall, on such request being made to him,

(a)take possession of such property, books of account or other documents; and

(b)cause the same to be entrusted to the Tribunal or the operating agency.

(2) For the purpose of securing compliance with the provisions of sub-section (1), the Chief Metropolitan Magistrate or the District Magistrate may take or cause to be taken such steps and use or cause to be used such force as may, in his opinion, be necessary.

(3) No act of the Chief Metropolitan Magistrate or the District Magistrate done in pursuance of this section shall be called in question in any Court or before any authority on any ground whatsoever.]

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1. Section 10FP ins. by Act 11 of 2003, sec. 6 (w.e.f. 1-4-2003).

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The Companies Act, 1956

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