https://www.taxtmi.com/caselaws?id=111318 Section 22 of the Sick Industrial Undertakings (Special Provisions) Act, 1985 did not bar depositors' applications under section 58A(9) of the Companies Act, 1956 for repayment of matured deposits. The court held that a claim for return of matured deposits is not a suit for recovery of money within the meaning of the suspension provision, because deposits are sums placed with the company for return on maturity and are not ordinary loans. Applying an earlier Division Bench ruling on the same issue, the defence based on section 22 was rejected and the repayment direction with interest was sustained. en-us Fri, 22 Sep 2006 00:00:00 +0530 Mon, 23 Apr 2012 10:27:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=111318 Section 22 of the Sick Industrial Undertakings (Special Provisions) Act, 1985 did not bar depositors' applications under section 58A(9) of the Companies Act, 1956 for repayment of matured deposits. The court held that a claim for return of matured deposits is not a suit for recovery of money within the meaning of the suspension provision, because deposits are sums placed with the company for return on maturity and are not ordinary loans. Applying an earlier Division Bench ruling on the same issue, the defence based on section 22 was rejected and the repayment direction with interest was sustained. Case-Laws Companies Law Fri, 22 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=111318