Section 84: Intimation of appointment of receiver or manager
This section is for notifying the company and Registrar of the appointment or cessation of a receiver or manager for a company's charged property.
The section, clause by clause
What the section says
In plain terms
(1)If any person obtains an order for the appointment of a receiver of, or of a person to manage, the property, subject to a charge, of a company or if any person appoints such receiver or person under any power contained in any instrument, he shall, within a period of thirty days from the date of the passing of the order or of the making of the appointment, give notice of such appointment to the company and the Registrar along with a copy of the order or instrument and the Registrar shall, on payment of the prescribed fees, register particulars of the receiver, person or instrument in the register of charges.
A person who obtains an order or makes an appointment of a receiver or manager for a company's charged property must notify the company and Registrar within 30 days, providing a copy of the order or instrument, and the Registrar will register the details after paying the prescribed fees.
(2)Any person appointed under sub-section (1) shall, on ceasing to hold such appointment, give to the company and the Registrar a notice to that effect and the Registrar shall register such notice.
When a receiver or manager appointed under this rule stops holding the appointment, they must notify the company and Registrar, and the Registrar will register this notice.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Omitted by Act 1 of 2018, s. 20, for certain words (w.e.f. 5-7-2018).
- 2. The Proviso ins. by s. 20, ibid. (w.e.f. 5-7-2018).
Search the whole Act, or ask it a question, in the interactive browser.
Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.