Solidaire India Ltd vs Fairgrowth Financial Services Ltd. And ... on 7 February, 2001
15. Reliance was placed on the decision of Solidaire India Ltd. vs
Fairgrowth Financial Services Ltd. and Ors. reported in (2001) 3 SCC
71, in support of the contention that when there were two special
statutes, the provisions of both should be harmoniously construed.
According to Mr. Mitra, the provisions of the IBC were not in conflict with
the provisions of the Companies Act, 2013 (hereinafter referred to as the
2013 Act) and Rule 30(9) of the said Rules, including the provisos thereto.
There was no inconsistency. Thus, the provision of Section 238 of the IBC
was wrongly pressed into service by the Regional Director and the learned
Single Judge erroneously upheld such decision which was contrary to law.