Section 32F: Restriction on tiling of suite for dissolution, etc., of an industrial concern not being a company when its management is taken over.

The State Financial Corporations Act, 1951Central Act · Act 63 of 1951

[32F. Restriction on filing of suite for dissolution, etc., of an industrial concern not being a company when its management is taken over.-- (1) Where the management of an industrial concern not being a company as defined in the Companies Act, 1956 (1 of 1956) is taken over by the Financial Corporation, no suit or proceedings for dissolution or for partition shall, insofar as it relates to that industrial concern, lie in any court or before any tribunal or other authority except with the consent of the Financial Corporation.

(2) No proceeding for the appointment of any official assignee or receiver in relation to any industrial concern the management of which has been taken over by the Financial Corporation shall lie in any court except with consent of the Financial Corporation.]

Where this provision sits

Act	The State Financial Corporations Act, 1951
Section	32F
Marginal note	Restriction on tiling of suite for dissolution, etc., of an industrial concern not being a company when its management is taken over.
Jurisdiction	Central
Status	In force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

inserted, Act 56 of 1956. . Ins. by Act 56 of 1956, s. 17 (w.e.f. 1-10-1956).

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