https://www.taxtmi.com/caselaws?id=108260 A pending reference before BIFR triggered the statutory restraint under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, so the winding up petition could not proceed on merits at that stage. The court noted, however, that the BIFR inquiry under section 15 could continue and that protective directions could still be made to safeguard the creditor's position. It allowed the creditor to participate in the BIFR inquiry and reserved liberty to renew the winding up petition on the same cause of action if the reference was rejected, leaving any future merits determination open. en-us Mon, 28 Jul 2003 00:00:00 +0530 Fri, 30 Mar 2012 16:56:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108260 A pending reference before BIFR triggered the statutory restraint under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, so the winding up petition could not proceed on merits at that stage. The court noted, however, that the BIFR inquiry under section 15 could continue and that protective directions could still be made to safeguard the creditor's position. It allowed the creditor to participate in the BIFR inquiry and reserved liberty to renew the winding up petition on the same cause of action if the reference was rejected, leaving any future merits determination open. Case-Laws Companies Law Mon, 28 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108260