https://www.taxtmi.com/caselaws?id=163810 Section 19 of the Sick Industrial Companies (Special Provisions) Act, 1985 empowers the BIFR, while framing or sanctioning a rehabilitation scheme, to issue binding directions for financial assistance, concessions, reliefs or sacrifices from concerned institutions. Applying that principle, the court held that the BIFR could direct the operating agency to settle dues and proceed on RBI guidelines in aid of revival, and that the institution could not defeat those directions by relying on its own internal guidelines. The cited precedent was found inapplicable on its facts. The challenge to the winding up order succeeded and the writ petition was allowed. en-us Tue, 25 Nov 2008 00:00:00 +0530 Mon, 24 Nov 2014 17:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163810 Section 19 of the Sick Industrial Companies (Special Provisions) Act, 1985 empowers the BIFR, while framing or sanctioning a rehabilitation scheme, to issue binding directions for financial assistance, concessions, reliefs or sacrifices from concerned institutions. Applying that principle, the court held that the BIFR could direct the operating agency to settle dues and proceed on RBI guidelines in aid of revival, and that the institution could not defeat those directions by relying on its own internal guidelines. The cited precedent was found inapplicable on its facts. The challenge to the winding up order succeeded and the writ petition was allowed. Case-Laws VAT and Sales Tax Tue, 25 Nov 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163810