https://www.taxtmi.com/caselaws?id=109452 Protection under the sick industrial companies framework is unavailable where later accounts continue the earlier pattern of fabricated losses, fund siphoning, and manipulation of depreciation and income items. The reference was treated as not maintainable because the claimed sickness could not be accepted at face value when the financial statements were found unreliable and tainted by the same practices previously identified. Discretionary writ relief was also refused where the company approached the statutory forums with unclean hands and used the statutory process as an abuse of protection intended only for bona fide sick industrial units. en-us Thu, 23 Oct 2003 00:00:00 +0530 Tue, 10 Apr 2012 12:55:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109452 Protection under the sick industrial companies framework is unavailable where later accounts continue the earlier pattern of fabricated losses, fund siphoning, and manipulation of depreciation and income items. The reference was treated as not maintainable because the claimed sickness could not be accepted at face value when the financial statements were found unreliable and tainted by the same practices previously identified. Discretionary writ relief was also refused where the company approached the statutory forums with unclean hands and used the statutory process as an abuse of protection intended only for bona fide sick industrial units. Case-Laws Companies Law Thu, 23 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109452