Execution Proceedings u/s 25 of Consumer Protection Act
Legal Fighter
(Querist) 19 February 2011
This query is : Resolved
Hi All,
In execution proceedings u/s 25 of Consumer Protection Act, final order was passed and matter sent to Deputy Commissioner for recovery. Now the DC office has sent the matter back to consumer court stating that properties are not in the name of Judgment Debtor company but are in names of Directors so can't be attached.
What option I have? How can I get to know the proterty in name of the company? The directors may have already disposed of all the company assets. What should I do?
yogesh
(Expert) 19 February 2011
Its court/forum will have to decide under section 25 of CPA FOR ITS EXECUTION/COMPLIANCE
Advocate. Arunagiri
(Expert) 19 February 2011
Definitely the company will have some properties, other wise the company should be declared as insolvent. So, file a petition that the company is giving false information to escape from the legal clutches. The court will take suitable action.
Devajyoti Barman
(Expert) 19 February 2011
Property means movable property and it is unbelievable that the office of company has no assets or infrastructure.
Advocate Anuj Anand
(Expert) 19 February 2011
find out the bank account of the company and get it attached
M V Gupta
(Expert) 22 February 2011
Pl check the balance sheet of the company for previous three years. The balance sheet on the assets side mentions the value of the immovable and movable properties of the Company. Also look into the annual report. You may get the details of the properties.You may also apply to the ROC for inspection of the records relating to the company's properties.
