https://www.taxtmi.com/caselaws?id=109315 A reference under section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 is not barred by an absolute sixty-day limitation; the provision imposes a mandatory duty to act promptly, and late filing does not by itself extinguish the reference. However, the Board may refuse a belated reference where the delay shows supine indifference, lack of bona fides, or an attempt to misuse the Act's protection. On the facts, the short delay and absence of any creditor objection meant rejection solely for lateness was unsustainable, and the reference had to be reconsidered in accordance with law. en-us Thu, 18 Dec 2003 00:00:00 +0530 Sat, 07 Apr 2012 18:10:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109315 A reference under section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 is not barred by an absolute sixty-day limitation; the provision imposes a mandatory duty to act promptly, and late filing does not by itself extinguish the reference. However, the Board may refuse a belated reference where the delay shows supine indifference, lack of bona fides, or an attempt to misuse the Act's protection. On the facts, the short delay and absence of any creditor objection meant rejection solely for lateness was unsustainable, and the reference had to be reconsidered in accordance with law. Case-Laws Companies Law Thu, 18 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109315