https://www.taxtmi.com/caselaws?id=284678 Section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 was examined against article 14 and the High Court's winding up jurisdiction. The provision was upheld because it operates within a special statutory scheme aimed at detecting sickness, considering rehabilitation, and ordering winding up only where revival is impossible and winding up is just and equitable. The Board's role was treated as a reasoned, inquiry-based expert function rather than arbitrary power, and its opinion only forms the basis for further winding up proceedings under the Companies Act, 1956. The constitutional challenge failed and the statutory scheme was sustained. en-us Mon, 19 Sep 1994 00:00:00 +0530 Tue, 03 Dec 2019 11:27:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284678 Section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985 was examined against article 14 and the High Court's winding up jurisdiction. The provision was upheld because it operates within a special statutory scheme aimed at detecting sickness, considering rehabilitation, and ordering winding up only where revival is impossible and winding up is just and equitable. The Board's role was treated as a reasoned, inquiry-based expert function rather than arbitrary power, and its opinion only forms the basis for further winding up proceedings under the Companies Act, 1956. The constitutional challenge failed and the statutory scheme was sustained. Case-Laws Companies Law Mon, 19 Sep 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284678