https://www.taxtmi.com/caselaws?id=109350 A writ petition under Article 226 was held not maintainable for settlement of accounts and allied reliefs arising from a takeover under section 29 of the State Financial Corporations Act, 1951, where the takeover itself was not challenged. The Court applied the settled principle that section 29 permits the Corporation to proceed against a defaulting industrial concern and recover dues by taking over and disposing of the unit. Disputed accounting and liability questions were treated as unsuitable for writ adjudication and were left to be resolved amicably or by civil suit. The petition was dismissed, leaving the parties to pursue civil remedies. en-us Wed, 04 Feb 2004 00:00:00 +0530 Mon, 09 Apr 2012 11:11:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109350 A writ petition under Article 226 was held not maintainable for settlement of accounts and allied reliefs arising from a takeover under section 29 of the State Financial Corporations Act, 1951, where the takeover itself was not challenged. The Court applied the settled principle that section 29 permits the Corporation to proceed against a defaulting industrial concern and recover dues by taking over and disposing of the unit. Disputed accounting and liability questions were treated as unsuitable for writ adjudication and were left to be resolved amicably or by civil suit. The petition was dismissed, leaving the parties to pursue civil remedies. Case-Laws Companies Law Wed, 04 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109350