https://www.taxtmi.com/caselaws?id=109429 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was treated as a complete embargo on recovery, enforcement and allied proceedings against a sick industrial company, and the bar was applied to an Order XXXIX Rule 4 application without the Board's consent. The ex parte restraint order was not vacated because the alleged nondisclosure of payments and pledged shares did not establish concealment or misrepresentation sufficient to justify discharge. The restraint on alienation therefore remained in force, and the interlocutory challenge failed on both maintainability and merits. en-us Mon, 29 Sep 2003 00:00:00 +0530 Tue, 10 Apr 2012 11:03:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109429 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was treated as a complete embargo on recovery, enforcement and allied proceedings against a sick industrial company, and the bar was applied to an Order XXXIX Rule 4 application without the Board's consent. The ex parte restraint order was not vacated because the alleged nondisclosure of payments and pledged shares did not establish concealment or misrepresentation sufficient to justify discharge. The restraint on alienation therefore remained in force, and the interlocutory challenge failed on both maintainability and merits. Case-Laws Companies Law Mon, 29 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109429