rehabilitation under Section
18. It is submitted that sub-clause (e) of sub-section (1) of Section 18 of
25
the SICA provides for preventive ... provisions of Sections 18(1) and
18(2) then has to be examined by BIFR in terms of
Section 18(3) of SICA
proposals towards formulation of a scheme for rehabilitation under section 18 of SICA?
Note.-The company's proposals towards formulation of a scheme for rehabilitation ... proposals towards formulation of a scheme for rehabilitation under section 18 of SICA?
Note.-The company's proposals towards formulation of a scheme for rehabilitation
Section 22 of the SICA deals with suspension of legal proceedings,
contracts, etc. Sub-section (3) of Section 22 of the SICA details a
position ... section (4) of Section 22 of the SICA,
such a declaration made under sub-section (3) of Section 22 of the
SICA is to have
terms
of the provisions of Section 18(5) read with section
18(9) of SICA, 1985.
b) For direction to Provident Fund & ESIC
Authorities ... measures as set out in Sections 18(1)
or 18(2) of SICA. It is clear from the scheme of SICA, as in force
SICA. Section 17 , Section 18 (1) (a) & (b), 18(3) (a) & (b) and 18(4) to (6) of SICA are extracted as under ... prepared under Sub-section (5) of Section 18 the provisions of Sub-sections (3) and (4) of Section 18 of SICA shall apply in relation
petitioner in view of Section 19(2) of the SICA.
(iii) The non-compliance by respondent No. 1 of Section
18 ... restricted to the ones prescribed under Section
18(1)(a) to Section 18(1)(e) of the SICA. Section 19(4) of
the SICA
have been fully specified under Section 18B of that Act.
21. Sub-section (1) of Section 18 of SICA under which a scheme ... sick industrial company under Section 16 of SICA. Provisions of sub-sections (1) and (2) of Section 17 of SICA were also not gone into
value
of the dues is under the rehabilitation scheme prepared under
Section 18 SICA, which has a binding effect on all the creditors.
Therefore ... observed and held that the rehabilitation scheme under
Section 18 SICA, 1985 shall bind all the creditors including the
unsecured creditors and the unsecured creditors
scheme in terms of provisions of Section 18(2) and 18 (9) of SICA,
1985 holding that the law declared by Division Benches of this ... Section 18(3)(b) ,
Section 19(1) and Section 19(4) shows that the other
measures which are talked of in Section 19(4) would
Continental Carbon India Limited1 , had held
that rehabilitation scheme under Section 18 of SICA shall bind all the
creditors including the unsecured creditors ... creditors comes into
picture like preparing the scheme under Section 18 . Section 18 of
the SICA does not provide that at the time of preparing
