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The Companies Act, 2013

Chapter XXVII - National Company Law Tribunal And Appellate Tribunal (407-434)

Section 429- Power to seek assistance of Chief Metropolitan Magistrate, etc.

[Section 429 notified w.e.f. 01.06.2016 vide Notification No. S. O. 1934 (E) dated 01.06.2016]

Section 429- Power to seek assistance of Chief Metropolitan Magistrate, etc. [Corresponds to Section 10FP of the Companies Act, 1956]

(1) The Tribunal may, in any proceedings for winding up of a company under this Act or in any proceedings under the Insolvency and Bankruptcy Code, 2016, in order to take into custody or under its control all property, books of account or other documents, request, in writing, the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector within whose jurisdiction any such property, books of account or other documents of such company under this Act or of corporate persons under the said Code, are situated or found, to take possession thereof, and the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector, 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 other persons authorised by it. 


 [sub-section (1) substituted  w.e.f.15.11.2016 vide Notification 37 dated 28.05.2016 (Insolvency and Bankruptcy Code, 2016) read with MCA Notification S.O.3453 (E) dated 15.11.2016].


(2) For the purpose of securing compliance with the provisions of sub-section (1), the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector 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, Chief Judicial Magistrate or the District Collector done in pursuance of this section shall be called in question in any court or before any authority on any ground whatsoever.


Prior to substitution w.e.f. 15.11.2016, sub-section (1) read as under:

(1) The Tribunal may, in any proceeding relating to a sick company or winding up of any other company, in order to take into custody or under its control all property, books of account or other documents, request, in writing, the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector within whose jurisdiction any such property, books of account or other documents of such sick or other company, are situate or found, to take possession thereof, and the Chief Metropolitan Magistrate, Chief Judicial Magistrate or the District Collector, 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 other person authorized by it.