| Topics |
Headnote |
Judgement |
| SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) ACT, 1985 |
. |
PDF |
| SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) ACT, 1985 |
Sick Industrial Companies (Special Provisions) Act, 1985— Section 22 — Scope — Section 22 only deals with the proceedings for recovery of money or for enforcement of any security or guarantee in respect of any loans or advance granted to the company & a proceedings for winding up of the company — there is no reference to any criminal proceedings. (Para 24) |
PDF |
| SICK INDUSTRIAL COMPANIES (SPECIAL PROVISIONS) ACT, 1985 |
NI Act — S 138 — Sick Industrial Companies (Special Provisions) Act, 1985— Section 22A — Declaring a Company sick & passing of restraint order — Dishonour of Cheque — Held, if before the date on which the cheque was drawn or expiry of the statutory period of 15 days after notice, a restraint order of BIFR under Section 22A was passed against the company— then it cannot be said that the offence u/s 138 completed— Failure to make the payment would be for reasons beyond the control of the accused — amount claimed is not recoverable from the assets of the company in view of the ban order passed by the BIFR. (Para 25) |
PDF |