https://www.taxtmi.com/caselaws?id=196636 A sanctioned rehabilitation scheme under SICA can bind the Railways where consent to concessions is deemed under Section 19, and Sections 18 and 19 operate in distinct fields. Clause 11.6 of the scheme was treated as mandatory, requiring exclusion of the company's closure period from past-performance evaluation, because a contrary reading would defeat revival. The company's later improved financial position did not end the Railways' obligation during the scheme's operative period. The clause was also not invalidated by tender conditions or the General Financial Rules, 2005, since the statutory scheme had overriding force under Section 32. en-us Fri, 28 Feb 2014 00:00:00 +0530 Sun, 10 Dec 2017 16:49:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=196636 A sanctioned rehabilitation scheme under SICA can bind the Railways where consent to concessions is deemed under Section 19, and Sections 18 and 19 operate in distinct fields. Clause 11.6 of the scheme was treated as mandatory, requiring exclusion of the company's closure period from past-performance evaluation, because a contrary reading would defeat revival. The company's later improved financial position did not end the Railways' obligation during the scheme's operative period. The clause was also not invalidated by tender conditions or the General Financial Rules, 2005, since the statutory scheme had overriding force under Section 32. Case-Laws Companies Law Fri, 28 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=196636