https://www.taxtmi.com/caselaws?id=112648 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was confined to protecting implementation of a rehabilitation scheme and preventing recovery action only where the debt formed part of, or would interfere with, that scheme. Fresh liabilities incurred in the ordinary course of business after registration of the BIFR reference were treated as independent post-reference transactions outside the statutory bar. The absence of a framed scheme did not expand section 22 to cover unpaid price claims for such later supplies. The winding-up petition for recovery of the post-reference debt was therefore maintainable. en-us Thu, 14 Aug 2008 00:00:00 +0530 Mon, 01 Dec 2014 19:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112648 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was confined to protecting implementation of a rehabilitation scheme and preventing recovery action only where the debt formed part of, or would interfere with, that scheme. Fresh liabilities incurred in the ordinary course of business after registration of the BIFR reference were treated as independent post-reference transactions outside the statutory bar. The absence of a framed scheme did not expand section 22 to cover unpaid price claims for such later supplies. The winding-up petition for recovery of the post-reference debt was therefore maintainable. Case-Laws Companies Law Thu, 14 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112648