Repealed or not in force · As amended up to 2026-08
72. Where any stock or Government securities or inxt shwb in ,q company (transferAble within India or the dividend; df w k c h w e able therein) is or are standing in thd narnh' of, b?krvested iii, a ineGtally ill person beneficially entitled thereto, or in :he xnaiager appointed under this Act or in a trustee for him, and the manager dies i~keskgte, or himself becomes mentally ill, or is out.,of the, jurisdiction of the District Court, or it is uncertain ,whether the managgr is livipg or deaq5 or he neglects or refuses to transfer the stock, securities or shares, or ,to receive and pay over thereof the dividends to a,new managex appointee! in his place, within fourteen days after being required by the Cow-t to do so, then the District Court may dire,ct the company or Government; concerned to make such transfer, or to transfer the sape, and to receive and pay over the dividends in such manner as it may direct.
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I 73. Where any stock or Government securities or share in a compaqy is or are standing in the name of, or- vested in: a4y perspn residing ,oyt of Tndia, the District Court upon being ,satisfied that sueh person has. been declared to be mentally ill and, that his, personal estate has heen vested in a person appointed for the manaiement thereof, accordkg to the law of the place where he is residing, may direct the company or Government concerned to make such transfer of the stock, securiti% br shares or of any part thereof. 40 or into +he.name of the persoi5 so appointed or otherwise,.and also1 to reesive and pay gver tfie Bivideqds and proceeds. a< the District Court thi&s fit, . , :
J3fdlN, .iJ$<~i& ]:gpp&rs'J& tae ~i(.D&tf&rtr; @gurt t&&o s th& .nientd;.illn&$:[. ][of.' ][.- ][;& ] qdl '&ntauy.iiu; . ;j . r&&& ~ ~ ~ ~ d ~ i g 1 ~ f i :p,rsolfrl.&,.3$ni;' ;!fd&!b~; . ~ ~ m ~ P b r a r ~ ; its ':: i bAq&& ;~&&-j~&~gF;. .! $&iod, 'for his.. fiainten&nce 2nd t.fi&t. .it. id' ; expedidfj!t of ifbt & & ; ~ ~ & t ~ ~ q a ~ a o f t.su&i zgn,me&je.l;s. :of; ::.his familjr :are dependent on 3 . 'h$m, p , `!,b&` 'm'l;@i!ct. f f r a'; .Go'@&$: ! . ~ a y , id' like. -A.mer; &: under ; 71, direct &iiffieie&! ;-"$art' thereof to-' ' be applied for the purpose sp&ifi&i j thekeihi .; . .. .. . . . . .
Power to apply property for meiltally ill person's maintenance in case of temporary mental illness.
r `75.` (1) Where the Distfict Court has reason to believe that any person who was found to `(be` mentally ill after inquisition under this Chalplter has, caased to `b,e` mentdly,:ill, it >may direct any comt subordinate to it inquire whether such person has. ceased to be mentally ill.
Action taken in respect of mentally ill person to be set aside if District ' Court finds that his mental illness has ceased. . .
(2) An inquiry under sub-section (1) shall, so far as may be, be cGnducted in the same manner as an inquisition conducted under this Chapter.
(3) If after an inquiry under this section, it is found that the mental illness of a person has ceased; the District Court shall order all actions taken in respect of the mentally ill person under this Act to be set aside on such terms and conditions as +at, C ~ w t ,thinks fit to impose.
A p ~ a l s .
Source: India Code