https://www.taxtmi.com/caselaws?id=104921 Proceedings against a company in liquidation were considered in the context of section 446 of the Companies Act, 1956 and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court stated that the two statutes operate in different fields: the Companies Act functions as a special code for liquidation and protection of all creditors, including workmen with pari passu rights, while the 1993 Act focuses on speedy debt recovery by banks and financial institutions. In the absence of clear legislative exclusion, the Company Court's power under section 446 was not displaced, and its exercise depended on the facts of each case. The request to transfer the pending proceedings to the Company Court was rejected. en-us Tue, 31 Aug 1999 00:00:00 +0530 Thu, 01 Mar 2012 17:46:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104921 Proceedings against a company in liquidation were considered in the context of section 446 of the Companies Act, 1956 and the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. The Court stated that the two statutes operate in different fields: the Companies Act functions as a special code for liquidation and protection of all creditors, including workmen with pari passu rights, while the 1993 Act focuses on speedy debt recovery by banks and financial institutions. In the absence of clear legislative exclusion, the Company Court's power under section 446 was not displaced, and its exercise depended on the facts of each case. The request to transfer the pending proceedings to the Company Court was rejected. Case-Laws Companies Law Tue, 31 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104921