Section 3 (1) (o) of
Sick Industrial Companies (special Provisions) Act, 1985 („SICA‟
for short). Before us, the only aspect that has been argued ... that SICA places a complete prohibition on all judicial
proceedings leaving no alternative to the Trial Judge other than
ordering the rejection of the Plaint
Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 (`SICA' for short) to contend that the Orders passed on the first ... application that ?in view of Section 22(1) of SICA, no coercive recovery proceedings against the Respondent company shall lie or be proceeded with without
under Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred to as `SICA'). The Plaintiff has filed a suit for the recovery ... having been declared sick under Section 3(1)(o) of SICA. It appears that the Bank has been directed to work out a package under
Marco Polo this letter of credit was opened in favor of one Sica. The defendant-bankers confirmed that letter of credit. The credit stipulated ... payment against (1) a receipt of Sica for the amount of the credit and (2) a notification of Seattle Bank to the defendants that
Marco Polo this letter of credit was opened in
favour of one Sica. The defendant-bankers
confirmed that letter of credit. The credit
stipulated ... payment against (1) a receipt of
Sica for the amount of the credit and (2) a
notification of Seattle Bank to the defendants that
Marco Polo this letter of credit was opened in favor of one Sica. The defendant-bankers confirmed that letter of credit. The credit stipulated ... payment against (1) a receipt of Sica for the amount of the credit and (2) a notification of Seattle Bank to the defendants that
Marco Polo this letter of credit was opened in favor of one Sica. The defendant-bankers confirmed that letter of credit. The credit stipulated ... payment against (1) a receipt of Sica for the amount of the credit and (2) a notification of Seattle Bank to the defendants that
Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA for short). This question has already generated several decisions by the Apex court ... dichotomy of opinion.
2. For facility of reference, Section 22(1) of SICA is reproduced below:
"22. Suspension of legal proceedings, contract
sick company by BIFR and, therefore, the provisions of Section 22 of SICA shall immediately apply to the defendant. As the said Section ... filed against the defendant which is a sick company under SICA. It is denied that any default has been committed in making the payment
Marco Polo this letter of credit was opened in
favour of one Sica. The defendant-bankers
confirmed that letter of credit. The credit
stipulated ... payment against (1) a receipt of
Sica for the amount of the credit and (2) a
notification of Seattle Bank to the defendants that
