https://www.taxtmi.com/caselaws?id=104782 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 applies only to proceedings against the properties of the sick industrial company; leased equipment owned by the petitioner remained its property despite being in the respondent's possession under the lease. The equipment did not become the respondent's property merely because it was installed at the site, and the objection based on immovable property failed because the lease treated it as movable equipment and the lease term had expired. On that reasoning, the receiver could take possession of the equipment in favour of the petitioner. en-us Mon, 03 Jul 2000 00:00:00 +0530 Thu, 01 Mar 2012 12:33:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104782 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 applies only to proceedings against the properties of the sick industrial company; leased equipment owned by the petitioner remained its property despite being in the respondent's possession under the lease. The equipment did not become the respondent's property merely because it was installed at the site, and the objection based on immovable property failed because the lease treated it as movable equipment and the lease term had expired. On that reasoning, the receiver could take possession of the equipment in favour of the petitioner. Case-Laws Companies Law Mon, 03 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104782