Industrial Companies (Special
Provisions) Act, 1985 ' (hereinafter referred to as "SICA Act, 1985") on the
ground that the Board, by flouting ... violation of
the principle of natural justice and provisions of 'SICA Act, 1985' which
is prejudicial to the interest of revenue involving huge
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 15(1) of the
Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) and it was
registered as Case No.366/2001 ... BIFR appointed IDBI as
Operating Agency under Section 16(2) of the SICA. According to the
Petitioners, there was AGM of shareholders in 2002 when
Sick Industrial
Company, Special Provisions Act, 1985 (hereinafter referred to as
"SICA"), which was registered as Case No. 238/2003. Appellant was
declared ... benefit of exemption. Appellant also sought de-registration from the
purview of SICA. MA 442/2011 was disposed of by the BIFR on
Comp
favour of Financial Creditor, the embargo
created under Section 22 of SICA Act 1985 was defeated. Hence, the
Financial Creditor shall not be entitled ... benefit of Section 22 of
SICA Act. Adjudicating Authority held that the period from 2002-2012
does not deserves to be excluded in counting
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
Reply)
26.02.2007 Corporate Debtor filed Reference under Section 15 of the SICA,
1985, bearing Ref. Case No. 20/2007 ("First Reference"), before ... Form-A, as required for filing Section 15 Reference under
SICA, filed by the Corporate Debtor before BIFR, Corporate
Debtor records and acknowledges-in-writing
before
BIFR has been made under the provisions of Section 22 of SICA it gets into operation
Company Appeal ... legal proceedings gets suspended as per the provisions of SICA. It is also revealed
from the pleadings that the Bank has assigned the 'Debt
before
BIFR has been made under the provisions of Section 22 of SICA it gets into operation
Company Appeal ... legal proceedings gets suspended as per the provisions of SICA. It is also revealed
from the pleadings that the Bank has assigned the 'Debt
