https://www.taxtmi.com/caselaws?id=313915 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 stays recovery proceedings only when the statutory preconditions are met and the debt is shown to be included in a pending or sanctioned rehabilitation scheme. Where the defendant cannot show the current status of the BIFR reference or any formulated scheme, the protection is unavailable. A disputed written statement and a later affidavit that does not amount to an unambiguous admission do not establish admitted liability, especially where debit notes and account reconciliation remain contested. In that situation, adjournment sine die of the recovery suit is not warranted. en-us Mon, 17 Jan 2011 00:00:00 +0530 Thu, 09 May 2024 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313915 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 stays recovery proceedings only when the statutory preconditions are met and the debt is shown to be included in a pending or sanctioned rehabilitation scheme. Where the defendant cannot show the current status of the BIFR reference or any formulated scheme, the protection is unavailable. A disputed written statement and a later affidavit that does not amount to an unambiguous admission do not establish admitted liability, especially where debit notes and account reconciliation remain contested. In that situation, adjournment sine die of the recovery suit is not warranted. Case-Laws Indian Laws Mon, 17 Jan 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313915