Debts incurred by the authorised person to have priority

In force Act 65 of 1951 As on 24 Oct 2026

Act 65 of 1951 Ministry Commerce and Industry Enacted 31 Oct 1951

Commencement. 08-05-1952, 15-02-1962

Section 29D of the Industries (Development and Regulation) Act, 1951 deals with debts incurred by the authorised person to have priority. Every debt arising out of any loan obtained by the authorised person for carrying on the management of, or exercising function of control in relation to, an industrial undertaking or part thereof, the management of which has been taken over under section 18A or section 18AA or section 18FA,-- (a) sh The Act was enacted on 31 Oct 1951.

¹[29D. Debts incurred by the authorised person to have priority.--Every debt arising out of any loan obtained by the authorised person for carrying on the management of, or exercising function of control in relation to, an industrial undertaking or part thereof, the management of which has been taken over under section 18A or section 18AA or section 18FA,--
(a) shall have priority over all other debts, whether secured or unsecured, incurred before the management of such industrial undertaking was taken over;
(b) shall be a preferential debt within the meaning of section 530 of the Companies Act, 1956 (1 of 1956),
and such debts shall rank equally among themselves and be paid in full out of the assets of the industrial undertakings unless such assets are insufficient to meet them, in which case they shall abate in equal proportions.]
Section 29D, The Industries (Development and Regulation) Act, 1951 (Act 65 of 1951).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

Questions about Section 29D

What does Section 29D of the Industries (Development and Regulation) Act deal with?

Section 29D of the Industries (Development and Regulation) Act is headed "Debts incurred by the authorised person to have priority". [29D. Debts incurred by the authorised person to have priority.--Every debt arising out of any loan obtained by the authorised person for carrying on the management of, or exercising function of control in relation to, an industrial undertaking or part thereof, the management of which has been taken

How do I find court cases under Section 29D of the Industries (Development and Regulation) Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Industries (Development and Regulation) Act 29D, section 29D Industries (Development and Regulation) Act, section 29D of the Industries (Development and Regulation) Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 29D of the Industries (Development and Regulation) Act, and has it changed?

Its own text turns on section 18A (Power of Central Government to assume management or control of an industrial undertaking in certain cases), section 18AA (Power to take over industrial undertakings without investigation under certain circumstances), section 18FA (Power of Central Government to authorise, with the permission of the High Court, persons to take over management or control of industrial undertakings), so none of them can safely be read on its own.

When was Section 29D of the Industries (Development and Regulation) Act enacted?

Section 29D of the Industries (Development and Regulation) Act, cited as Industries (Development and Regulation) Act 29D, was enacted on 31 Oct 1951 as Act 65 of 1951. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Text as in force on 24 Oct 2026. This page is not a substitute for legal advice.