https://www.taxtmi.com/caselaws?id=113804 Abatement of a pending BIFR reference under the third proviso to Section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 arises only when secured creditors representing not less than three-fourths in value have actually taken measures under Section 13(4) of the SARFAESI Act. Consent under Section 13(9) is a different requirement and does not by itself trigger abatement. Read harmoniously, the provisions mean that where the requisite Section 13(4) action has not been taken by the statutory threshold of secured creditors, the BIFR reference continues and the protection under Section 22 of the Sick Industrial Companies (Special Provisions) Act remains in force. en-us Fri, 19 Feb 2010 00:00:00 +0530 Wed, 15 Oct 2014 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113804 Abatement of a pending BIFR reference under the third proviso to Section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 arises only when secured creditors representing not less than three-fourths in value have actually taken measures under Section 13(4) of the SARFAESI Act. Consent under Section 13(9) is a different requirement and does not by itself trigger abatement. Read harmoniously, the provisions mean that where the requisite Section 13(4) action has not been taken by the statutory threshold of secured creditors, the BIFR reference continues and the protection under Section 22 of the Sick Industrial Companies (Special Provisions) Act remains in force. Case-Laws Companies Law Fri, 19 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113804