https://www.taxtmi.com/caselaws?id=102328 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 creates an overriding embargo on winding-up proceedings once an inquiry under section 16 is pending, a scheme is under preparation or implementation, or an appeal is pending. A winding-up petition filed after the commencement of such inquiry cannot be entertained without prior consent of the Board or the appellate authority, and the words "shall lie" were treated as requiring that consent before institution itself. The pendency of a later consent application, or the parties' lack of earlier knowledge, does not cure the defect. The filing is therefore incompetent ab initio. en-us Wed, 01 Apr 1992 00:00:00 +0530 Tue, 14 Feb 2012 15:09:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102328 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 creates an overriding embargo on winding-up proceedings once an inquiry under section 16 is pending, a scheme is under preparation or implementation, or an appeal is pending. A winding-up petition filed after the commencement of such inquiry cannot be entertained without prior consent of the Board or the appellate authority, and the words "shall lie" were treated as requiring that consent before institution itself. The pendency of a later consent application, or the parties' lack of earlier knowledge, does not cure the defect. The filing is therefore incompetent ab initio. Case-Laws Companies Law Wed, 01 Apr 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102328