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Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
<h1>Court grants adjournment for respondent to address appeal implications post-AAIFR repeal. Challenges faced by companies highlighted.</h1> The court granted an adjournment for the respondent to provide further information and instructions regarding the appeal and the implications of the ... Summary order. Petition concerning continuity of forum for appeals pending at repeal of SICA/AAIFR listed for hearing on 12th December, 2017; respondents permitted to take instructions. Issues:1. Scheme sanctioned by BIFR and modified by order.2. Appeal under Sick Industrial Companies (Special Provisions) Act, 1985.3. Abolishment of AAIFR and lack of redressal forum post-repeal.4. Impact of repeal on pending appeals.Analysis:1. The judgment pertains to a writ petition filed by a company regarding a scheme sanctioned by the Board for Industrial and Financial Reconstruction (BIFR) and modified by an order. The scheme was sanctioned on the 3rd of September, 2015. The company, aggrieved by the order, filed a statutory appeal under Section 25 of the Sick Industrial Companies (Special Provisions) Act, 1985 before the Appellate Authority for Industrial & Financial Reconstruction (AAIFR). However, due to the repeal of the Sick Industrial Company (Special Provisions) Repeal Act, 2003, the AAIFR was abolished, leaving the petitioner without a redressal forum post-repeal.2. The petitioner raised concerns about the lack of continuity of a redressal forum for companies aggrieved by schemes sanctioned by BIFR before the Repeal Act came into force. The respondent presented an office memorandum dated 9th August, 2017, which did not address the specific impact of the repeal on appeals like the one filed by the petitioner. Consequently, the respondent requested a short adjournment to seek instructions regarding the petitioner's appeal and others in similar situations.3. The court granted the adjournment and scheduled the next hearing for 12th December, 2017, to allow the respondent to provide further information and instructions regarding the appeal and the implications of the repeal on pending appeals. The judgment reflects the legal complexities arising from the repeal of the legislation and the challenges faced by companies seeking redressal in the absence of the previously established redressal forum.This detailed analysis highlights the key issues addressed in the judgment, focusing on the scheme sanctioned by BIFR, the appeal under the relevant Act, the consequences of AAIFR's abolishment, and the need for clarity on the impact of the repeal on pending appeals.
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