https://www.taxtmi.com/caselaws?id=197588 A request for appointment of a receiver and attachment of mortgaged property under Section 30 of the Industrial Finance Corporation Act, 1948 could not proceed while a company reference was pending under the Sick Industrial Companies (Special Provisions) Act, 1985. Once the reference was registered and an inquiry under Section 16 was pending, Section 22 operated as a bar against execution, distress, and appointment of a receiver over the company's properties except with the Board's consent. The Court treated the revival-oriented scheme of the sick companies legislation as controlling and held that coercive relief could not be granted in the absence of such consent; the application was therefore not maintainable at that stage. en-us Wed, 18 Nov 1987 00:00:00 +0530 Wed, 10 Jan 2018 14:22:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197588 A request for appointment of a receiver and attachment of mortgaged property under Section 30 of the Industrial Finance Corporation Act, 1948 could not proceed while a company reference was pending under the Sick Industrial Companies (Special Provisions) Act, 1985. Once the reference was registered and an inquiry under Section 16 was pending, Section 22 operated as a bar against execution, distress, and appointment of a receiver over the company's properties except with the Board's consent. The Court treated the revival-oriented scheme of the sick companies legislation as controlling and held that coercive relief could not be granted in the absence of such consent; the application was therefore not maintainable at that stage. Case-Laws Companies Law Wed, 18 Nov 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197588