https://www.taxtmi.com/caselaws?id=105426 Pendency of BIFR proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 extends the statutory bar to enforcement against guarantors for the sick company's liabilities. Section 22(1) prevents execution, distress and similar proceedings, and also bars enforcement of guarantees for loans or advances granted to the industrial company, unless the Board or Appellate Authority consents. On that construction, attachment of a guarantor's immovable property pursuant to an arbitral award could not be sustained, and enforcement action against the guarantors was not maintainable during the bar period. en-us Fri, 04 May 2001 00:00:00 +0530 Mon, 05 Mar 2012 16:27:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105426 Pendency of BIFR proceedings under the Sick Industrial Companies (Special Provisions) Act, 1985 extends the statutory bar to enforcement against guarantors for the sick company's liabilities. Section 22(1) prevents execution, distress and similar proceedings, and also bars enforcement of guarantees for loans or advances granted to the industrial company, unless the Board or Appellate Authority consents. On that construction, attachment of a guarantor's immovable property pursuant to an arbitral award could not be sustained, and enforcement action against the guarantors was not maintainable during the bar period. Case-Laws Companies Law Fri, 04 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105426