https://www.taxtmi.com/caselaws?id=105456 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 bars winding up proceedings against a sick industrial company while an inquiry is pending, a scheme is under preparation or consideration, or a sanctioned rehabilitation scheme is under implementation, unless consent is obtained from the Board or Appellate Authority. Where the company had already been declared sick and the sanctioned scheme was still being implemented, a winding up petition filed without such consent fell within the statutory prohibition. Section 20 preserves the Board's role within the Act's rehabilitation framework, so the winding up process cannot proceed in breach of that scheme-related bar. en-us Tue, 10 Jul 2001 00:00:00 +0530 Mon, 05 Mar 2012 17:00:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105456 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 bars winding up proceedings against a sick industrial company while an inquiry is pending, a scheme is under preparation or consideration, or a sanctioned rehabilitation scheme is under implementation, unless consent is obtained from the Board or Appellate Authority. Where the company had already been declared sick and the sanctioned scheme was still being implemented, a winding up petition filed without such consent fell within the statutory prohibition. Section 20 preserves the Board's role within the Act's rehabilitation framework, so the winding up process cannot proceed in breach of that scheme-related bar. Case-Laws Companies Law Tue, 10 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105456