TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Tribunal-ordered takeover of company assets and records in insolvency or winding up, with enforcement powers and challenge bar</h1> In proceedings for winding up under the Companies Act, 2013, or proceedings under the Insolvency and Bankruptcy Code, 2016, the Tribunal may request in writing the Chief Metropolitan Magistrate, Chief Judicial Magistrate, or District Collector having jurisdiction to take possession of a company's (or corporate person's) property, books of account, or other documents and to entrust them to the Tribunal or persons authorised by it, thereby enabling the Tribunal to secure custody and control of such assets and records. To secure compliance, the Magistrate or District Collector may take necessary steps and use such force as considered necessary, thereby ensuring effective execution of the request. Acts done under this section are insulated from challenge before any court or authority on any ground.
TaxTMI 
TaxTMI 
