https://www.taxtmi.com/caselaws?id=193494 Section 9 relief for attachment before judgment or injunction may be refused where an approved CDR scheme is under implementation and the claimant already holds recognised security. The court applied the principles behind Order 38 Rule 5 and Order 39 Rules 1 and 2 CPC, found the debt claim prima facie established, but held that coercive restraint would jeopardise the restructuring and revival process. Limited protective directions were retained to safeguard the claimant's participation and security. In the winding-up petition, deemed inability to pay debts was not treated as automatically requiring admission; the court exercised discretion and declined to admit the petition because the approved CDR package and creditor interests favoured allowing restructuring to proceed. en-us Mon, 06 Jul 2015 00:00:00 +0530 Wed, 02 Aug 2017 11:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193494 Section 9 relief for attachment before judgment or injunction may be refused where an approved CDR scheme is under implementation and the claimant already holds recognised security. The court applied the principles behind Order 38 Rule 5 and Order 39 Rules 1 and 2 CPC, found the debt claim prima facie established, but held that coercive restraint would jeopardise the restructuring and revival process. Limited protective directions were retained to safeguard the claimant's participation and security. In the winding-up petition, deemed inability to pay debts was not treated as automatically requiring admission; the court exercised discretion and declined to admit the petition because the approved CDR package and creditor interests favoured allowing restructuring to proceed. Case-Laws Indian Laws Mon, 06 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193494