14.
Chief Metropolitan Magistrate or District Magistrate
to assist secured creditor in taking possession
of secured asset.- (1) Where the possession
of any secured asset is required to be taken
by the secured creditor or if any of the secured
asset is required to be sold or transferred
by the secured creditor under the provisions
of this Act, the secured creditor may, for the
purpose of taking possession or control of any
such secured asset, request, in writing, the
Chief Metropolitan Magistrate or the District
Magistrate within whose jurisdiction any such
secured asset or other documents relating thereto
may be situated or found, to take possession
thereof, and the Chief Metropolitan Magistrate
or, as the case may be, the District Magistrate
shall, on such request being made to him-
(a) take possession of such
asset and documents relating thereto; and
(b) forward such asset and
documents to the secured creditor.
(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. |
