Section 18(8) in The Sick Industrial Companies (Special Provisions) Act, 1985
(8)[ On and from the date of the coming into operation of the sanctioned scheme or any provision thereof, the scheme or such provision shall be binding on the sick industrial company and the transferee company or, as the case may be, the other company and also on the shareholders, creditors and guarantors and employees of the said companies.] [ Substituted by Act 12 of 1994, Section 7, for sub-Section (8)(w.e.f. 1.2.1994).]
