https://www.taxtmi.com/caselaws?id=110899 Registration of a sick industrial company's reference under the rehabilitation law triggers the statutory stay under section 22(1), preventing continuation of winding-up proceedings and coercive enforcement of a settlement amount. The statutory rehabilitation regime prevails even where the settlement may otherwise be enforceable as a decree, and equitable considerations or company-court execution powers cannot override the moratorium. Recovery may be pursued only with leave from the BIFR, preserving the company's protection pending rehabilitation. en-us Thu, 12 Oct 2006 00:00:00 +0530 Thu, 19 Apr 2012 11:02:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=110899 Registration of a sick industrial company's reference under the rehabilitation law triggers the statutory stay under section 22(1), preventing continuation of winding-up proceedings and coercive enforcement of a settlement amount. The statutory rehabilitation regime prevails even where the settlement may otherwise be enforceable as a decree, and equitable considerations or company-court execution powers cannot override the moratorium. Recovery may be pursued only with leave from the BIFR, preserving the company's protection pending rehabilitation. Case-Laws Companies Law Thu, 12 Oct 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=110899