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According to Section 429 of the Act, in which circumstances can the Tribunal seek assistance from the Chief Metropolitan Magistrate?
  • a)
    For conducting regular investigations
  • b)
    To facilitate asset seizure
  • c)
    For taking custody of company property or documents
  • d)
    To enforce court orders
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
According to Section 429 of the Act, in which circumstances can the Tr...
Under Section 429 of the Act, the Tribunal can request the Chief Metropolitan Magistrate, Chief Judicial Magistrate, or the District Collector to take possession of company property, books of account, or other documents in proceedings related to a sick company or winding up of another company. The purpose is to ensure proper control over such assets during legal proceedings. The Chief Metropolitan Magistrate, Chief Judicial Magistrate, or the District Collector can use necessary force as deemed necessary to comply with the Tribunal's request.
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According to Section 429 of the Act, in which circumstances can the Tribunal seek assistance from the Chief Metropolitan Magistrate?a)For conducting regular investigationsb)To facilitate asset seizurec)For taking custody of company property or documentsd)To enforce court ordersCorrect answer is option 'C'. Can you explain this answer?
Question Description
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