https://www.taxtmi.com/caselaws?id=158402 Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 suspends specified proceedings during the pendency of inquiry, scheme preparation, implementation or appeal under that Act, but the article explains that this protection did not bar recovery steps already taken after ex parte adjudication under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the Second Schedule to the Income Tax Act, 1961. It further notes that the competing non-obstante clauses were read with the objects of both statutes, and the later recovery legislation was treated as prevailing where reconciliation was not possible. On that basis, the recovery statute was given primacy, and the separate opinion also found Section 22 inapplicable on the procedural timeline. 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 during the pendency of inquiry, scheme preparation, implementation or appeal under that Act, but the article explains that this protection did not bar recovery steps already taken after ex parte adjudication under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 and the Second Schedule to the Income Tax Act, 1961. It further notes that the competing non-obstante clauses were read with the objects of both statutes, and the later recovery legislation was treated as prevailing where reconciliation was not possible. On that basis, the recovery statute was given primacy, and the separate opinion also found Section 22 inapplicable on the procedural timeline. Case-Laws Companies Law Mon, 25 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=158402