https://www.taxtmi.com/caselaws?id=106041 A declaration that an industrial concern is a sick unit under the Sick Industrial Companies (Special Provisions) Act, 1985 does not by itself bar consumer proceedings for refund of matured fixed deposits. The Commission found that the deposits were proved, the liability to repay was not denied, and section 22(1) did not prevent the complaint from proceeding. Non-payment of the maturity amount was treated as deficiency in service, and the consumer complaint was held maintainable and allowed with directions to refund the principal with agreed interest and costs. en-us Fri, 02 Jun 2000 00:00:00 +0530 Mon, 18 Feb 2013 16:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106041 A declaration that an industrial concern is a sick unit under the Sick Industrial Companies (Special Provisions) Act, 1985 does not by itself bar consumer proceedings for refund of matured fixed deposits. The Commission found that the deposits were proved, the liability to repay was not denied, and section 22(1) did not prevent the complaint from proceeding. Non-payment of the maturity amount was treated as deficiency in service, and the consumer complaint was held maintainable and allowed with directions to refund the principal with agreed interest and costs. Case-Laws Companies Law Fri, 02 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106041