299. Power to summon persons suspected of having property of company, etc
(1) The Tribunal may, at any time after the appointment of a provisional liquidator
or the passing of a winding up order, summon before it any officer of the company or person
known or suspected to have in his possession any property or books or papers, of the
company, or known or suspected to be indebted to the company, or any person whom the
Tribunal thinks to be capable of giving information concerning the promotion, formation,
trade, dealings, property, books or papers, or affairs of the company.
(2) The Tribunal may examine any officer or person so summoned on oath concerning
the matters aforesaid, either by word of mouth or on written interrogatories or on affidavit
and may, in the first case, reduce his answers to writing and require him to sign them.
(3) The Tribunal may require any officer or person so summoned to produce any
books and papers relating to the company in his custody or power, but, where he claims any
lien on books or papers produced by him, the production shall be without prejudice to such
lien, and the Tribunal shall have power to determine all questions relating to that lien.
(4) The Tribunal may direct the liquidator to file before it a report in respect of debt or
property of the company in possession of other persons.
(5) If the Tribunal finds that—
(a) a person is indebted to the company, the Tribunal may order him to pay to the
provisional liquidator or, as the case may be, the liquidator at such time and in such
manner as the Tribunal may consider just, the amount in which he is indebted, or any
part thereof, either in full discharge of the whole amount or not, as the Tribunal thinks
fit, with or without costs of the examination;
(b) a person is in possession of any property belonging to the company, the
Tribunal may order him to deliver to the provisional liquidator or, as the case may be,
the liquidator, that property or any part thereof, at such time, in such manner and on
such terms as the Tribunal may consider just.
(6) If any officer or person so summoned fails to appear before the Tribunal at the time
appointed without a reasonable cause, the Tribunal may impose an appropriate cost.
(7) Every order made under sub-section (5) shall be executed in the same manner as
decrees for the payment of money or for the delivery of property under the Code of Civil
Procedure, 1908.
(8) Any person making any payment or delivery in pursuance of an order made under
sub-section (5) shall by such payment or delivery be, unless otherwise directed by such
order, discharged from all liability whatsoever in respect of such debt or property.