https://www.taxtmi.com/caselaws?id=113821 Section 391(6) of the Companies Act, 1956 was examined against special recovery statutes and the court's stay power was found not to extend to proceedings under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. That Act was treated as a later special enactment and complete code, with exclusive jurisdiction in the Debts Recovery Tribunal and overriding effect under its non obstante clause. A stay under section 391(6) would interfere with statutory recovery remedies and alter creditor rights inconsistently with that framework. The same reasoning was applied to section 29 proceedings under the State Financial Corporations Act, 1951, so such recovery actions could not be restrained by the company court. en-us Thu, 25 Feb 2010 00:00:00 +0530 Wed, 15 Oct 2014 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113821 Section 391(6) of the Companies Act, 1956 was examined against special recovery statutes and the court's stay power was found not to extend to proceedings under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993. That Act was treated as a later special enactment and complete code, with exclusive jurisdiction in the Debts Recovery Tribunal and overriding effect under its non obstante clause. A stay under section 391(6) would interfere with statutory recovery remedies and alter creditor rights inconsistently with that framework. The same reasoning was applied to section 29 proceedings under the State Financial Corporations Act, 1951, so such recovery actions could not be restrained by the company court. Case-Laws Companies Law Thu, 25 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113821