https://www.taxtmi.com/caselaws?id=106207 Once a reference is registered before the Board for Industrial and Financial Reconstruction, the inquiry under section 16(1) is treated as commenced for section 22 purposes, and the statutory bar against coercive proceedings operates immediately. The provision is intended to preserve the assets and status quo of the sick industrial company so that rehabilitation is not frustrated. A court should not grant directions restraining disposal of assets or creation of third-party interests where that relief would interfere with the suspended regime. Any protective order concerning assets should be sought from the Board under section 22A. en-us Mon, 30 Aug 1999 00:00:00 +0530 Tue, 13 Mar 2012 12:09:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106207 Once a reference is registered before the Board for Industrial and Financial Reconstruction, the inquiry under section 16(1) is treated as commenced for section 22 purposes, and the statutory bar against coercive proceedings operates immediately. The provision is intended to preserve the assets and status quo of the sick industrial company so that rehabilitation is not frustrated. A court should not grant directions restraining disposal of assets or creation of third-party interests where that relief would interfere with the suspended regime. Any protective order concerning assets should be sought from the Board under section 22A. Case-Laws Companies Law Mon, 30 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106207