https://www.taxtmi.com/caselaws?id=197804 A winding up petition for inability to pay debts is a distinct remedy from ordinary debt recovery because it also involves commercial insolvency and public interest considerations. The Companies Act and the Recovery of Debts Due to Banks and Financial Institutions Act operate harmoniously, and the latter's overriding clause applies only where there is direct inconsistency. On that basis, the Court held that the exclusive jurisdiction of the Debt Recovery Tribunal for debt adjudication and recovery did not oust the Company Court's jurisdiction to entertain the winding up petition, and the appeal failed. en-us Fri, 06 Jul 2001 00:00:00 +0530 Thu, 22 Feb 2018 18:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197804 A winding up petition for inability to pay debts is a distinct remedy from ordinary debt recovery because it also involves commercial insolvency and public interest considerations. The Companies Act and the Recovery of Debts Due to Banks and Financial Institutions Act operate harmoniously, and the latter's overriding clause applies only where there is direct inconsistency. On that basis, the Court held that the exclusive jurisdiction of the Debt Recovery Tribunal for debt adjudication and recovery did not oust the Company Court's jurisdiction to entertain the winding up petition, and the appeal failed. Case-Laws Companies Law Fri, 06 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197804