proceedings under Sick Industrial Companies (Special Provisions
Act, 1985 ) (in short 'SICA') before the Board for Industrial and Financial
Reconstruction (in short ... period from
limitation period in terms of Section 22(5) of SICA and misinterpreted the
judgment of the Hon'ble Supreme Court of India
2017 due to the pending BIFR
proceeding under the SICA Act, 1985. The DRT had granted decree on
10/08/2009 and issued the Certificate ... submitted that a Financial
Creditor cannot avail benefit of the SICA Act, 1985 and placed reliance on the
Judgment in the matter
Section 22 (1) of
the Sick Industrial Companies (Special Provisions
Act, 1985) (SICA) can be excluded, as provided under
Section 22 (5) of SICA ... view of the provisions under Section 22 (1)
of SICA and the decisions in Paramjeet Singh case
(Supra) and in KSL & Industries Limited (supra
Sick Industrial Companies (Special Provisions) Act,
1985 (SICA) on 06.11.2012 which was registered as BIFR Case No. 74 of
2012 (Reference). The BIFR vide ... India vide Notification No. S.O. 3568(E)
dated 25.11.2016 repealed the SICA and replaced it by the Sick Industrial
Companies (Special Provisions) Repeal
company under Sick Industrial Companies (Special Provisions)
Act, 1985 (in short 'SICA') vide order dated 2.4.1998 of Board of
Industrial & Financial Reconstruction ... further a Draft Rehabilitation Scheme in terms of section 28 of
SICA was formulated for the sick company, whereby Arfat
Petrochemicals Pvt. Ltd. was identified
herein filed a Reference with BIFR u/s 15
(1) of the SICA. The reference was registered as case No.23/2012 and
the case ... been declared, by BIFR/AAIFR under
9
Section 22(3) of SICA, to be suspended, the parties are at liberty to
pursue appropriate legal remedies
Adinath Jewellery Exports vs Mr. Brijendra Kumar Mishra Liquidator ... on 24 April, 2023
NATIONAL COMPANY
fertile ground for the revival of the
regime under Section 22 of SICA which
provided for suspension of wide-ranging
contracts. Section ... SICA cannot be
brought in through the back door. The basis of
our intervention in this case arises from the fact
that if we allow
Sick Industrial
Companies (Special Provisions) Act, 1985 ("SICA") and
forwarded its opinion to the High Court of Rajasthan and
Company Appeal (AT) (Insolvency
been referred to, albeit in the
context of Section 20 of the SICA, in our judgment which is
contained in Jaipur Metals & Electricals Employees
