https://www.taxtmi.com/caselaws?id=108654 The Madras High Court noted that rival rehabilitation proposals under the Sick Industrial Companies (Special Provisions) Act, 1985 must be compared on their overall financial viability, including secured creditor dues, labour dues, capital needs and working capital. It upheld the appellate authority's finding that the petitioner's revised proposal was not materially better than the third respondent's, and that neither side had shown dependable resource mobilisation to implement the revival package. The Court also held that, where both proposals were found unviable, directing preparation of a rehabilitation scheme based on sale of the undertaking's assets was within jurisdiction under the Act. Certiorari interference was declined. en-us Fri, 20 Dec 2002 00:00:00 +0530 Tue, 03 Apr 2012 12:21:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108654 The Madras High Court noted that rival rehabilitation proposals under the Sick Industrial Companies (Special Provisions) Act, 1985 must be compared on their overall financial viability, including secured creditor dues, labour dues, capital needs and working capital. It upheld the appellate authority's finding that the petitioner's revised proposal was not materially better than the third respondent's, and that neither side had shown dependable resource mobilisation to implement the revival package. The Court also held that, where both proposals were found unviable, directing preparation of a rehabilitation scheme based on sale of the undertaking's assets was within jurisdiction under the Act. Certiorari interference was declined. Case-Laws Companies Law Fri, 20 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108654