https://www.taxtmi.com/caselaws?id=246937 Protection under Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 does not extend to directors or guarantors where recovery is pursued before the Debt Recovery Tribunal. The statutory bar applies only to a "suit" in the civil court sense, and tribunal-based recovery proceedings are not treated as suits for this purpose. As a guarantor's liability is co-extensive with that of the principal debtor, the SICA protection cannot be invoked to block such recovery action. The appellants were therefore not entitled to the benefit of Section 22(1). en-us Fri, 13 Dec 2013 00:00:00 +0530 Mon, 10 Apr 2017 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246937 Protection under Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 does not extend to directors or guarantors where recovery is pursued before the Debt Recovery Tribunal. The statutory bar applies only to a "suit" in the civil court sense, and tribunal-based recovery proceedings are not treated as suits for this purpose. As a guarantor's liability is co-extensive with that of the principal debtor, the SICA protection cannot be invoked to block such recovery action. The appellants were therefore not entitled to the benefit of Section 22(1). Case-Laws Companies Law Fri, 13 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246937