https://www.taxtmi.com/caselaws?id=112349 Once a reference is registered under the sick company regime and inquiry has commenced, section 22 bars proceedings against the company until the Board takes a final decision. Applying that protection, the Court stated that a winding up petition based on alleged inability to pay an admitted liability could not proceed while the BIFR reference remained pending. The fact that the claim arose from contract and the authorities cited by the petitioner did not displace the statutory bar on these facts. The petition was therefore kept in abeyance, with liberty to seek revival after disposal of the reference. en-us Thu, 16 Mar 2006 00:00:00 +0530 Fri, 27 Apr 2012 17:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112349 Once a reference is registered under the sick company regime and inquiry has commenced, section 22 bars proceedings against the company until the Board takes a final decision. Applying that protection, the Court stated that a winding up petition based on alleged inability to pay an admitted liability could not proceed while the BIFR reference remained pending. The fact that the claim arose from contract and the authorities cited by the petitioner did not displace the statutory bar on these facts. The petition was therefore kept in abeyance, with liberty to seek revival after disposal of the reference. Case-Laws Companies Law Thu, 16 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112349