https://www.taxtmi.com/caselaws?id=99304 Section 18FA(2) of the Industries (Development and Regulation) Act, 1951 is construed as mandatory once the Central Government forms the requisite opinion and makes an application. The High Court is then bound to issue the takeover order empowering authorisation of a person or body to manage the industrial undertaking, and its discretion is limited to extension beyond the initial five-year period under the proviso. A preliminary objection based on the form of the application was rejected as a matter of substance, not jurisdiction. The result is that the takeover application was maintainable and relief had to be granted within the statutory limit. en-us Thu, 24 Oct 1974 00:00:00 +0530 Wed, 25 Jan 2012 18:21:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=99304 Section 18FA(2) of the Industries (Development and Regulation) Act, 1951 is construed as mandatory once the Central Government forms the requisite opinion and makes an application. The High Court is then bound to issue the takeover order empowering authorisation of a person or body to manage the industrial undertaking, and its discretion is limited to extension beyond the initial five-year period under the proviso. A preliminary objection based on the form of the application was rejected as a matter of substance, not jurisdiction. The result is that the takeover application was maintainable and relief had to be granted within the statutory limit. Case-Laws Companies Law Thu, 24 Oct 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=99304