https://www.taxtmi.com/caselaws?id=105946 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 does not bar proceedings under section 58A(9) of the Companies Act, 1956 for return of matured deposits. A matured deposit is money held for repayment on maturity, not a loan advanced to the company, and a demand for its return is not a suit for recovery of money within the strict meaning of the statutory bar. The exception in section 22(1) must be construed narrowly and is not extended to proceedings that do not involve execution, distress, or similar coercive recovery against company property. en-us Wed, 05 Jan 2000 00:00:00 +0530 Mon, 12 Mar 2012 11:10:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105946 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 does not bar proceedings under section 58A(9) of the Companies Act, 1956 for return of matured deposits. A matured deposit is money held for repayment on maturity, not a loan advanced to the company, and a demand for its return is not a suit for recovery of money within the strict meaning of the statutory bar. The exception in section 22(1) must be construed narrowly and is not extended to proceedings that do not involve execution, distress, or similar coercive recovery against company property. Case-Laws Companies Law Wed, 05 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105946