https://www.taxtmi.com/caselaws?id=104162 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 suspends winding up and other coercive proceedings against a sick industrial company during the statutory rehabilitation stage unless consent is granted. An ordinary money claim does not escape that embargo merely because it arose after sanction of the rehabilitation scheme and was omitted from the scheme. The Calcutta High Court distinguished the narrow revenue-tax context in which the Supreme Court had relaxed the bar, and held that the exception did not apply to a private debt claim. The winding up application was therefore barred and could not proceed for the time being. en-us Thu, 08 Apr 1999 00:00:00 +0530 Tue, 28 Feb 2012 10:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104162 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 suspends winding up and other coercive proceedings against a sick industrial company during the statutory rehabilitation stage unless consent is granted. An ordinary money claim does not escape that embargo merely because it arose after sanction of the rehabilitation scheme and was omitted from the scheme. The Calcutta High Court distinguished the narrow revenue-tax context in which the Supreme Court had relaxed the bar, and held that the exception did not apply to a private debt claim. The winding up application was therefore barred and could not proceed for the time being. Case-Laws Companies Law Thu, 08 Apr 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104162