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The Companies Act, 1956

Revival and Rehabilitation (Section 424A to 424L)

Section 424I- Direction not to dispose of assets.

[This section was inserted by Companies (Second Amendment) Act 2002 but effective date not notified till date.]

Section 424I- Direction not to dispose of assets.

The Tribunal may, if it is of opinion, that any direction is necessary in the interest of the sick industrial company or creditors or shareholders or in the public interest, by order, direct such company not to dispose of, except with the prior approval of the Tribunal, any of its assets during the period of inquiry under section 424B or during the period of preparation or consideration of the scheme under section 424C.