Section 424 - Application of sections 421 to 423 to receivers and managers appointed by Tribunal and managers appointed in pursuance of an instrument. - Companies Act, 1956

Application of sections 421 to 423 to receivers and managers appointed by Tribunal and managers appointed in pursuance of an instrument. [1] [424. The provisions of sections 421 to 423 shall apply to the receiver of, or any person appointed to manage, the property of a company, appointed by the Tribunal or to any person appointed to manage, the property of a company under any powers contained in an instrument, in like manner as they apply to a receiver appointed under any powers contained in an instrument.] -------------------------------------- Notes:- [1] Substituted by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notified. Prior to its substitution section 424 read as under for the following: "424. Application of sections 421 to 423 to receivers and managers appointed by Court and managers appointed in pursuance of an instrument 1 . The provisions of sections 421, 422 and 423 shall apply to the receiver of, or any person appointed to manage, the property of a company, appointed by a Court or to any person appointed to manage the property of a company under any powers contained in an instrument, in like manner as they apply to a receiver appointed under any powers contained in an instrument." 1 See Form 36, Companies (Central Government's) General Rules and Forms, 1956.