https://www.taxtmi.com/caselaws?id=109430 A challenge to recovery proceedings failed where the issuing authority's competence was supported by the statutory framework and notification, the plea based on the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 did not defeat recovery, and protection under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was held unavailable to a guarantor. The note also states that a rehabilitation scheme did not amount to novation under Section 62 of the Indian Contract Act, 1872 because no new contract was pleaded or proved; the original contractual liability therefore continued and the recovery certificate remained enforceable. en-us Wed, 01 Oct 2003 00:00:00 +0530 Tue, 10 Apr 2012 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109430 A challenge to recovery proceedings failed where the issuing authority's competence was supported by the statutory framework and notification, the plea based on the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 did not defeat recovery, and protection under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was held unavailable to a guarantor. The note also states that a rehabilitation scheme did not amount to novation under Section 62 of the Indian Contract Act, 1872 because no new contract was pleaded or proved; the original contractual liability therefore continued and the recovery certificate remained enforceable. Case-Laws Companies Law Wed, 01 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109430