https://www.taxtmi.com/caselaws?id=126930 A notice under section 13(2) of the SARFAESI Act is only a pre-enforcement demand and does not itself amount to a measure under section 13(4). The second proviso to section 15(1) of the SICA, which can lead to abatement of a pending BIFR reference, applies only when secured creditors representing at least three-fourths in value have actually taken measures under section 13(4). Because the statutory threshold was not satisfied, the BIFR proceedings did not abate and the protection under section 22 of the SICA continued to restrain further coercive action until lawful compliance with the SARFAESI framework. en-us Thu, 06 Jan 2011 00:00:00 +0530 Wed, 17 Sep 2014 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126930 A notice under section 13(2) of the SARFAESI Act is only a pre-enforcement demand and does not itself amount to a measure under section 13(4). The second proviso to section 15(1) of the SICA, which can lead to abatement of a pending BIFR reference, applies only when secured creditors representing at least three-fourths in value have actually taken measures under section 13(4). Because the statutory threshold was not satisfied, the BIFR proceedings did not abate and the protection under section 22 of the SICA continued to restrain further coercive action until lawful compliance with the SARFAESI framework. Case-Laws Companies Law Thu, 06 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126930