https://www.taxtmi.com/caselaws?id=184243 A sanctioned scheme under SICA must be implemented as an indivisible whole, and a company cannot be taken out of the Act's purview merely because its net worth has become positive if the scheme remains incomplete. The corresponding reliefs and concessions promised under the scheme cannot be withheld while only the obligations are enforced. Pending proceedings in another High Court did not end the statutory process, and monitoring, implementation, and breach-related action continued to lie with the BIFR and AAIFR. The impugned orders were set aside, and the matter was directed back to the BIFR for full monitoring and implementation of the sanctioned scheme. en-us Tue, 21 Sep 2010 00:00:00 +0530 Mon, 04 Jul 2016 10:59:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184243 A sanctioned scheme under SICA must be implemented as an indivisible whole, and a company cannot be taken out of the Act's purview merely because its net worth has become positive if the scheme remains incomplete. The corresponding reliefs and concessions promised under the scheme cannot be withheld while only the obligations are enforced. Pending proceedings in another High Court did not end the statutory process, and monitoring, implementation, and breach-related action continued to lie with the BIFR and AAIFR. The impugned orders were set aside, and the matter was directed back to the BIFR for full monitoring and implementation of the sanctioned scheme. Case-Laws Indian Laws Tue, 21 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184243