Section 32F:
Restriction on tiling of suite for dissolution, etc., of an industrial concern not being a company when its management is taken over.
1[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.]
Notes:
1. Ins. by Act 56 of 1956, s. 17 (w.e.f. 1-10-1956).