https://www.taxtmi.com/caselaws?id=213563 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 is described as imposing a mandatory bar on winding up proceedings while an appeal under section 25 is pending, so the company court cannot pass a winding up order until the appeal is finally disposed of or consent is obtained. The text also notes that abatement under the third proviso to section 15(1) is conditional and depends on satisfaction of the statutory requirements, including creditor action meeting the prescribed value threshold and a final determination of that issue. Mere initiation of secured creditor measures, especially where challenged and stayed, does not by itself make abatement conclusive. en-us Wed, 06 Apr 2011 00:00:00 +0530 Fri, 09 Sep 2022 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213563 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 is described as imposing a mandatory bar on winding up proceedings while an appeal under section 25 is pending, so the company court cannot pass a winding up order until the appeal is finally disposed of or consent is obtained. The text also notes that abatement under the third proviso to section 15(1) is conditional and depends on satisfaction of the statutory requirements, including creditor action meeting the prescribed value threshold and a final determination of that issue. Mere initiation of secured creditor measures, especially where challenged and stayed, does not by itself make abatement conclusive. Case-Laws Companies Law Wed, 06 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213563