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Section 429 Of Companies Act 2013: Power To Seek Assistance Of Chief Metropolitan Magistrate, Etc

Corporate Law (Country: India)

SECTION-429 (Power to seek assistance of Chief Metropolitan Magistrate, etc) under CHAPTER-XXVII (National Company Law Tribunal and Appellate Tribunal) of the Companies Act, 2013


(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.

(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.








Extra Notes for Readers

(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013) - link

(2) Section 429 of the Companies Act, 2013 was notified by MCA Notification S.O. 1934(E) dated 1st June 2016 (w.e.f. 1st June 2016) - link


(3) Also refer:
  • National Company Law Tribunal Rules, 2016 (notified on 21st July 2016) link
  • National Company Law Appellate Tribunal Rules, 2016 (notified on 21st July 2016) link
Note: Please check MCA site for any further amendments to the Rules.

(4) Website links:
(5) Sub-section (1) of Section 429 of the Companies Act 2013 was substituted in accordance with the section 255 of the Insolvency and Bankruptcy Code, 2016 - link

MCA has notified section 255 of the Insolvency and Bankruptcy Code, 2016 vide notification no. S.O. 3453(E) dated 15th November 2016 (w.e.f. 15th November 2016) - link







This page was last updated on 3rd June, 2017.

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