Calcutta High Court (Appellete Side)
Asset Reconstruction Company (India) ... vs Union Of India & Ors on 18 April, 2017
Author: Debangsu Basak
Bench: Debangsu Basak
1 18.04.2017
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rc W.P. No.24822(W) of 2016 Asset Reconstruction Company (India) Limited Versus Union of India & Ors.
Mr. Nim Dem Dorjee ... For the petitioner Learned advocate for the petitioner submits that the proceedings pending before the Board for Industrial and Financial Reconstruction Establishment under the provisions of the Sick Industrial Companies (Special Provision) Act, 1985 is under challenge.
He submits that in view of coming into effect of the provisions of the Companies Act, 2013, the Sick Industrial Companies (Special Provision) Act, 1985 is no longer in vogue. Board for Industrial and Financial Reconstruction Establishment is no longer in existence. He submits that the right of the petitioner to take appropriate proceedings in respect of such proceedings be retained.
In the factual matrix, therefore, it would be appropriate to dispose of the W.P.No. 24822(W) of 2016 by permitting the petitioner to avail of its remedies in accordance with law.
Urgent certified website copies of this order, if applied for, be made available to the parties upon compliance of the requisite formalities.
(Debangsu Basak, J.)