https://www.taxtmi.com/caselaws?id=158402 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 suspends specified proceedings against an industrial company while proceedings under that Act remain pending. Recovery proceedings under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 were considered alongside its overriding provision and the saving in Section 34(2). Where the two enactments could not be reconciled, the later special recovery statute was treated as prevailing to secure expeditious adjudication and recovery of bank and financial-institution debts. On the relevant timeline, Section 22 did not bar the recovery process, including recovery steps under the Income Tax Act recovery procedure. en-us Mon, 25 Aug 2008 00:00:00 +0530 Wed, 04 Jun 2014 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=158402 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 suspends specified proceedings against an industrial company while proceedings under that Act remain pending. Recovery proceedings under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 were considered alongside its overriding provision and the saving in Section 34(2). Where the two enactments could not be reconciled, the later special recovery statute was treated as prevailing to secure expeditious adjudication and recovery of bank and financial-institution debts. On the relevant timeline, Section 22 did not bar the recovery process, including recovery steps under the Income Tax Act recovery procedure. Case-Laws Companies Law Mon, 25 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158402