https://www.taxtmi.com/caselaws?id=111058 A pending reference before the Board for Industrial and Financial Reconstruction triggered the statutory bar under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, preventing a winding up petition under section 433(e) of the Companies Act, 1956 from proceeding at that stage. The creditor was required to participate in the sick company proceedings and await the outcome of the reference, with any further remedy to depend on how that reference was decided. The winding up petition was therefore not maintainable during the pendency of the reference, and the matter was disposed of with directions for expeditious consideration by the Board. en-us Mon, 09 Jan 2006 00:00:00 +0530 Fri, 20 Apr 2012 11:12:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111058 A pending reference before the Board for Industrial and Financial Reconstruction triggered the statutory bar under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, preventing a winding up petition under section 433(e) of the Companies Act, 1956 from proceeding at that stage. The creditor was required to participate in the sick company proceedings and await the outcome of the reference, with any further remedy to depend on how that reference was decided. The winding up petition was therefore not maintainable during the pendency of the reference, and the matter was disposed of with directions for expeditious consideration by the Board. Case-Laws Companies Law Mon, 09 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111058