Section 3. The word "or" omitted by s. 20, ibid. (w.e.f. 21-8-1985)

3. 1st August, 1952 (in the whole of India except the State of Jammu and Kashmir), vide Notifn. No. S.R.O. 1317, dated 28th July, 1952, see Gazette of India, Part II, sec. 3. 4. Ins. by Act 77 of 1972, s. 2 (w.e.f. 30-12-1972). 5. Subs. by Act 56 of 1956, s. 2, for clause (b) (w.e.f. 1-10-1956). 6. Subs. by Act 77 of 1972, s. 2, for clause (c) (w.e.f. 30-12-1972). 7. Subs. by Act 43 of 1985, s. 2, for sub-clause (ii) (w.e.f. 21-8-1985) 8. Ins. by s. 2, ibid . (w.e.f. 21-8-1985) 9. Subs. by s. 2, ibid., for sub-clause (viii) (w.e.f. 21-8-1985). 3. The word "or" omitted by s. 20, ibid. (w.e.f. 21-8-1985). 4. Ins. by Act 56 of 1956, s. 16 (w.e.f. 1-10-1956). the Code of Civil Procedure, 1908 (5 of 1908) for the possession of immovable property or the delivery of movable property in execution of a degree, as if the Financial Corporation were the decree-holder.] (9) Any party aggrieved by an order[1] [under sub-section (4A), sub-section (5)] or sub-section (7) may, within thirty days from the date of the order, appeal to the High Court, and upon such appeal the High Court may, after hearing the parties, pass such orders thereon as it thinks proper. (10) Where proceedings for liquidation in respect of an industrial concern have commenced before an application is made under sub-section (1) of section 31, nothing in this section shall be construed as giving to the Financial Corporation any preference over the other creditors of the industrial concern not conferred on it by any other law. 2[(11) The functions of a district judge under this section shall be exercisable— (a) in a presidency town, where there is a city civil court having jurisdiction, by a judge of that court and in the absence of such court, by the High Court; and (b) elsewhere, also by an additional district judge[3] [or by any judge of the principal court of civil jurisdiction].] 3[(12) For the removal of doubts it is hereby declared that any court competent to grant an ad interim injunction under this section shall also have the power to appoint a Receiver and to exercise all the other powers incidental thereto.] 4[32A. Power of Financial Corporation to appoint directors or administrators of an industrial concern when management is taken over. —(1) When the management of an industrial concern is taken over by the Financial Corporation, the Financial Corporation may, by order notified in the Official — Gazette, appoint as many persons as it thinks fit, (a) in any case in which the industrial concern is a company as defined in the Companies Act, 1956 (1 of 1956) to be directors of that industrial concern; or (b) in any other case, to be administrators of that industrial concern. (2) The power to appoint directors or administrators under this section includes the power to appoint any individual, firm or company to be the managing agent or manager of the industrial concern on such terms and conditions as the Financial Corporation may think fit.] 5[(3) Nothing in the Companies Act, 1956 (1 of 1956) or in any other law for the time being in force or in any instrument relating to the industrial concern shall, in so far as it makes in relation to a director, any provision for the holding of any share qualification, age limit, restriction on the number of directorships, retirement by rotation or removal from office, apply to any director appointed by the Financial Corporation under this section.]