https://www.taxtmi.com/caselaws?id=110409 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 does not extend to arbitral proceedings for recovery of transportation charges incurred for bamboo used in the industrial unit's operations, because the claim did not arise from a loan, advance, security, or guarantee. The rehabilitation purpose of the Act does not justify barring recovery of work-related or essential operational expenses such as transportation, rent, wages, or electricity charges. On that basis, no consent of the Board for Industrial and Financial Reconstruction was required, and the arbitral award was not liable to be set aside under section 34 of the Arbitration and Conciliation Act, 1996. en-us Wed, 28 Apr 2004 00:00:00 +0530 Mon, 16 Apr 2012 16:35:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110409 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 does not extend to arbitral proceedings for recovery of transportation charges incurred for bamboo used in the industrial unit's operations, because the claim did not arise from a loan, advance, security, or guarantee. The rehabilitation purpose of the Act does not justify barring recovery of work-related or essential operational expenses such as transportation, rent, wages, or electricity charges. On that basis, no consent of the Board for Industrial and Financial Reconstruction was required, and the arbitral award was not liable to be set aside under section 34 of the Arbitration and Conciliation Act, 1996. Case-Laws Companies Law Wed, 28 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110409