Amendment status not verified — confirm the current text below against the official source.
the Board may, if it is of opinion that any direction is necessary in the interest of the sick industrial company or creditors or shareholders or in the public interest, by order in writing company not to dispose of direct the sick industrial except with the consent of the Board, any of its assets- (a) During the period, of Preparation or section 18; and consideration of the scheme under (b) During the period beginning with the recording of opinion by the Board for winding up of the company under sub-section (1) of section 20 and up to commencement of the proceedings relating to winding up before the concerned High Court.] Ins. by Act 12 of 1994, sec. 13.