https://www.taxtmi.com/caselaws?id=108564 A winding-up petition signed through an imperfect authority was not to fail on a mere technicality, because defects in authorisation can be cured by rectification or ratification where substantive rights are unaffected. In contrast, where a bank had already invoked the special recovery mechanism before the Debt Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Company Court should not entertain a parallel winding-up petition as a recovery device. The special statute was treated as the more efficacious forum, and parallel proceedings were avoided to prevent inconsistent and duplicate litigation. en-us Thu, 31 Oct 2002 00:00:00 +0530 Fri, 12 Apr 2019 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108564 A winding-up petition signed through an imperfect authority was not to fail on a mere technicality, because defects in authorisation can be cured by rectification or ratification where substantive rights are unaffected. In contrast, where a bank had already invoked the special recovery mechanism before the Debt Recovery Tribunal under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993, the Company Court should not entertain a parallel winding-up petition as a recovery device. The special statute was treated as the more efficacious forum, and parallel proceedings were avoided to prevent inconsistent and duplicate litigation. Case-Laws Indian Laws Thu, 31 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108564