What is Protection of action taken in good faith What is Power to seek assistance of Chief Metropolitan Magistrate, etc What is Civil court not to have jurisdiction Section 428, 429 and 430 of Indian Companies Act 2013

Protection of action taken in good faith, Power to seek assistance of Chief Metropolitan Magistrate, etc, Civil court not to have jurisdiction are defined under Section 428, 429  and 430 of Indian Companies Act 2013. Provisions under these Sections are:

Section 428 of Indian Companies Act 2013 "Protection of action taken in good faith"

No suit, prosecution or other legal proceeding shall lie against the Tribunal, the President, Member, officer or other employee, or against the Appellate Tribunal, the Chairperson, Member, officer or other employees thereof or liquidator or any other person authorised by the Tribunal or the Appellate Tribunal for the discharge of any function under this Act in respect of any loss or damage caused or likely to be caused by any act which is in good faith done or intended to be done in pursuance of this Act.

 

Section 429 of Indian Companies Act 2013 "Power to seek assistance of Chief Metropolitan Magistrate, etc"

(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 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.

Section 430 of Indian Companies Act 2013 "Civil court not to have jurisdiction"

No civil court shall have jurisdiction to entertain any suit or proceeding in respect of any matter which the Tribunal or the Appellate Tribunal is empowered to determine by or under this Act or any other law for the time being in force and no injunction shall be granted by any court or other authority in respect of any action taken or to be taken in pursuance of any power conferred by or under this Act or any other law for the time being in force, by the Tribunal or the Appellate Tribunal.

What is Appeal from orders of Tribunal What is Expeditious disposal by Tribunal and Appellate Tribunal Section 421 and 422 of Indian Companies Act 2013

What is Appeal to Supreme Court What is Procedure before Tribunal and Appellate Tribunal Section 423 and 424 of Indian Companies Act 2013

What is Power to punish for contempt What is delegation of powers President, Members, officers, etc., to be public servants Section 425, 426 and 427 of Indian Companies Act 2013

What is Protection of action taken in good faith What is Power to seek assistance of Chief Metropolitan Magistrate, etc What is Civil court not to have jurisdiction Section 428, 429 and 430 of Indian Companies Act 2013

What is Vacancy in Tribunal or Appellate Tribunal not to invalidate acts or proceedings What is Right to legal representation Section 431 and 432 of Indian Companies Act 2013

What is Limitation What is Transfer of certain pending proceedings Section 433 and 434 of Indian Companies Act 2013

What is Establishment of Special Courts What re Offences triable by Special Courts Section 435 and 436 of Indian Companies Act 2013

What is Appeal and revision What is Application of Code to proceedings before Special Court What are Offences to be non cognizable What are Transitional provisions Section 437, 438, 439 and 440 of Indian Companies Act 2013

 

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