https://www.taxtmi.com/caselaws?id=104878 Pendency of winding up proceedings, including the appointment of an official liquidator, does not by itself bar a reference under section 15 of the Sick Industrial Companies (Special Provisions) Act, 1985. The statutory rehabilitation scheme remains available because winding up is directed to asset preservation and does not oust the Board for Industrial and Financial Reconstruction's jurisdiction to examine sickness and proceed according to law. The Board of Directors also retains residuary powers for measures aimed at rehabilitation. On that basis, the reference was maintainable and the BIFR and AAIFR were wrong to decline jurisdiction. en-us Thu, 24 Aug 2000 00:00:00 +0530 Thu, 01 Mar 2012 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104878 Pendency of winding up proceedings, including the appointment of an official liquidator, does not by itself bar a reference under section 15 of the Sick Industrial Companies (Special Provisions) Act, 1985. The statutory rehabilitation scheme remains available because winding up is directed to asset preservation and does not oust the Board for Industrial and Financial Reconstruction's jurisdiction to examine sickness and proceed according to law. The Board of Directors also retains residuary powers for measures aimed at rehabilitation. On that basis, the reference was maintainable and the BIFR and AAIFR were wrong to decline jurisdiction. Case-Laws Companies Law Thu, 24 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104878