https://www.taxtmi.com/caselaws?id=313920 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 barred continuation of a money recovery suit against a sick industrial company where the claimed liability was covered by, or integrally linked with, a draft rehabilitation scheme. The court treated the existence of a pending rehabilitation process and the running-account nature of the dealings as decisive, and held that the suit could not proceed merely because the exact amount remained disputed or not finally crystallised. Recovery proceedings therefore required consent from the Board or Appellate Authority before they could continue. en-us Fri, 03 May 2013 00:00:00 +0530 Thu, 09 May 2024 14:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313920 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 barred continuation of a money recovery suit against a sick industrial company where the claimed liability was covered by, or integrally linked with, a draft rehabilitation scheme. The court treated the existence of a pending rehabilitation process and the running-account nature of the dealings as decisive, and held that the suit could not proceed merely because the exact amount remained disputed or not finally crystallised. Recovery proceedings therefore required consent from the Board or Appellate Authority before they could continue. Case-Laws Companies Law Fri, 03 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313920