Central Act supremacy prevents state relief notifications from staying company public deposit repayment proceedings under section 58A(9). An earlier circular that stayed monetary liabilities and proceedings for companies declared relief undertakings has been withdrawn because Central Act supremacy precludes State declarations from suspending the Central law; applications and actions under the Central statutory repayment mechanism are to be processed immediately for such companies.
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.
Central Act supremacy prevents state relief notifications from staying company public deposit repayment proceedings under section 58A(9).
An earlier circular that stayed monetary liabilities and proceedings for companies declared relief undertakings has been withdrawn because Central Act supremacy precludes State declarations from suspending the Central law; applications and actions under the Central statutory repayment mechanism are to be processed immediately for such companies.
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