https://www.taxtmi.com/caselaws?id=752374 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 bars coercive recovery and proceedings that would hinder rehabilitation, but it does not prevent a civil court from adjudicating a disputed and unadmitted money claim; the suit was therefore maintainable and the decree was not a nullity. Interest under the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993, including compound interest, may be awarded within the statutory scheme, but it cannot run for the period when the buyer-company was under BIFR protection because recovery was legally suspended during that time. The award of 24% compound interest was sustained, subject to exclusion of the protected period from computation. en-us Fri, 26 Apr 2024 00:00:00 +0530 Wed, 08 May 2024 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752374 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 bars coercive recovery and proceedings that would hinder rehabilitation, but it does not prevent a civil court from adjudicating a disputed and unadmitted money claim; the suit was therefore maintainable and the decree was not a nullity. Interest under the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993, including compound interest, may be awarded within the statutory scheme, but it cannot run for the period when the buyer-company was under BIFR protection because recovery was legally suspended during that time. The award of 24% compound interest was sustained, subject to exclusion of the protected period from computation. Case-Laws Companies Law Fri, 26 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752374