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Issues: Whether sub-section (2) of Section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 is constitutionally valid and how it is to be construed in relation to the High Court's role in winding up proceedings.
Analysis: The provision was construed to mean that, while deciding whether a company should be wound up, the High Court must take into account the opinion forwarded by the Board under sub-section (1), but it cannot abdicate its own statutory function of determining the winding-up question. On that construction, the provision was held to be free from infirmity, and the view taken by the High Court was accepted.
Conclusion: The challenge to the constitutional validity of sub-section (2) of Section 20 failed, and the special leave petition was dismissed.
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