https://www.taxtmi.com/caselaws?id=313919 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 was held to bar only coercive proceedings such as winding up, execution, distress or similar steps against an industrial company's assets. The phrase "or the like" was construed ejusdem generis with execution and distress, so it did not extend the statutory stay to a civil suit merely seeking adjudication of liability. The Statement of Objects and Reasons could not enlarge the plain text of the provision. The suit was therefore not stayed, and the stay motion failed. en-us Thu, 01 Dec 1988 00:00:00 +0530 Thu, 09 May 2024 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313919 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 was held to bar only coercive proceedings such as winding up, execution, distress or similar steps against an industrial company's assets. The phrase "or the like" was construed ejusdem generis with execution and distress, so it did not extend the statutory stay to a civil suit merely seeking adjudication of liability. The Statement of Objects and Reasons could not enlarge the plain text of the provision. The suit was therefore not stayed, and the stay motion failed. Case-Laws Companies Law Thu, 01 Dec 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313919