Industrial Reconstruction Bank of India Act,1984
Act No : 62
Section :
Chief Metropolitan Magistrate and District Magistrate to assistReconstruction Bank in taking charge of property.
51. Chief Metropolitan Magistrate and District Magistrate to assist Reconstruction Bank in taking charge of property.-(1) Where any property, effects or actionable claims have been sold or leased in pursuance of any power conferred by section 39, section 40 or section 41 or where the management of an industrial concern is taken over by the Reconstruction Bank or its nominee or an undertaking or an industrial concern is amalgamated under section 49, the Reconstruction Bank or the administrator or any director, or any other person authorised by the Reconstruction Bank may, for the purpose of taking into custody or control any such property, effects or actionable claims, may, request in writing the Chief Metropolitan Magistrate or the District Magistrate within whose jurisdiction any property or books or account or other documents relating to such property or effects or actionable claims may be situated, or found, to take possession thereof, and the Chief Metropolitan Magistrate or the District Magistrate, as the case may be, shall, on such request being made to him,- (a) take possession of such property, effects or actionable claims and books of account and other documents relating thereto, and (b) forward them to the Reconstruction Bank, administrator, director or other person, as the case may be. (2) For the purpose of securing compliance with the provisions of sub-section (1), the Chief Metropolitan Magistrate or the District Magistrate 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 or the District Magistrate done in pursuance of this section shall be called in question in any court or before any authority.
