https://www.taxtmi.com/caselaws?id=304209 The Sick Industrial Companies (Special Provisions) Act, 1985 applies to a foreign company carrying on a sick industrial undertaking in India where a contextual and purposive reading of the inclusive definition of "company" supports coverage. The expression "unless the context otherwise requires" permits departure from a narrow Companies Act meaning, particularly where exclusion would undermine protection for workers and creditors and the undertaking operates in India. BIFR therefore had jurisdiction over the undertaking. A creditor without an adjudicated claim lacked an enforceable basis to challenge the reference or scheme, while challengers who had previously invoked and benefited from BIFR proceedings could not later take an inconsistent position; their challenge failed for want of locus and abuse of process. en-us Fri, 19 Oct 2012 00:00:00 +0530 Tue, 13 Sep 2022 19:36:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304209 The Sick Industrial Companies (Special Provisions) Act, 1985 applies to a foreign company carrying on a sick industrial undertaking in India where a contextual and purposive reading of the inclusive definition of "company" supports coverage. The expression "unless the context otherwise requires" permits departure from a narrow Companies Act meaning, particularly where exclusion would undermine protection for workers and creditors and the undertaking operates in India. BIFR therefore had jurisdiction over the undertaking. A creditor without an adjudicated claim lacked an enforceable basis to challenge the reference or scheme, while challengers who had previously invoked and benefited from BIFR proceedings could not later take an inconsistent position; their challenge failed for want of locus and abuse of process. Case-Laws Companies Law Fri, 19 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304209