https://www.taxtmi.com/caselaws?id=313397 Section 22 of the Sick Industrial Companies (Special Provisions) Act does not bar execution proceedings for refund of a tenant's security deposit against a sick industrial company. The deposit is treated as tenant's money held in trust for refund on termination of the tenancy, not as the company's own property, so recovery proceedings are not execution against the company's assets within the statutory bar. The provision must be construed reasonably and cannot be used to justify retention of trust money. The execution petition was therefore maintainable. en-us Fri, 11 May 2007 00:00:00 +0530 Wed, 10 Apr 2024 18:30:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313397 Section 22 of the Sick Industrial Companies (Special Provisions) Act does not bar execution proceedings for refund of a tenant's security deposit against a sick industrial company. The deposit is treated as tenant's money held in trust for refund on termination of the tenancy, not as the company's own property, so recovery proceedings are not execution against the company's assets within the statutory bar. The provision must be construed reasonably and cannot be used to justify retention of trust money. The execution petition was therefore maintainable. Case-Laws Indian Laws Fri, 11 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313397