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 HI to all and wish you a very happy new year.

I have file a suit for recovery before High Court against a limited company. defendant company has file a application under section 22(1) sica for stayed the recovery suit they stated that company has file there representation before BIFR and same has been registered  and the term of section 22(1) of SICA during the pendency of the matter with BIFR OR AAIFER no coercive recovery proceedings cold lie or be proceed what shold i do some one told me rearding some judgements of suprem courts which say proceeding cant stop pls provid me those latest judgements or give advice regarding "form  A"

THANKS IN ADVANCED

ASHUTOSH

 
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Legal Consultant/Lawyer

DEAR ASHUTOSH,


Yes, Recovery Proceedings against the Sick Company could not be stopped: 


The Supreme Court of India is set side the order of High Court of Delhi Court by imposing heavey cost of Rs.50,000/- and confirmed the order of the DRAT, by which " recovery proceeding could be effected against the company.


I will post the detail order of the Suprem court later.


Following is the case in which SC passed Judgment:



KSL And Amp; Industries Ltd


vs


M/S Arihant Threads Ltd. And Amp; Ors


on 25 August, 2008


 
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Advocate

Also see SCC 2005(8) page 219 NGEF Ltd. V/s Chandra Devlopers(p)ltd.

 
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LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA

Thanx Mr. Ashutosh for the wishes of New Year n same to u.

 
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LAWYER AT BUDHIRAJA & ASSOCIATES SUPREME COURT OF INDIA

Thanx a lot Md. Ahmed n Mr. Bhatia for providing so important  judgement to all of us.

 
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