https://www.taxtmi.com/caselaws?id=101904 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 applies only while an inquiry under section 16 is pending, a scheme under section 17 is under preparation, consideration or implementation, or an appeal under section 25 is pending. It does not stay proceedings after a final winding-up order has already been made. Once winding up is ordered, the board of directors ceases to function in law except for filing the statement of affairs, so a rehabilitation reference made thereafter is incompetent. The saving provision in section 31 preserves pending winding-up proceedings where a receiver or official liquidator has been appointed. en-us Fri, 07 Jul 1989 00:00:00 +0530 Mon, 13 Feb 2012 10:57:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=101904 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 applies only while an inquiry under section 16 is pending, a scheme under section 17 is under preparation, consideration or implementation, or an appeal under section 25 is pending. It does not stay proceedings after a final winding-up order has already been made. Once winding up is ordered, the board of directors ceases to function in law except for filing the statement of affairs, so a rehabilitation reference made thereafter is incompetent. The saving provision in section 31 preserves pending winding-up proceedings where a receiver or official liquidator has been appointed. Case-Laws Companies Law Fri, 07 Jul 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=101904