https://www.taxtmi.com/caselaws?id=313998 Section 22(1) of the Sick Industrial Companies Act, 1985 did not bar continuation of a pre-award arbitral proceeding where no enforceable award or decree existed and the matter had not reached the stage of execution. The statutory embargo applies only if the proceeding falls within the provision and its continuance would interfere with formulation, consideration, finalisation or implementation of a rehabilitation scheme. The Court distinguished adjudication of liability in arbitration from coercive recovery against a sick company's assets, and held that the objection under Section 22(1) would arise only when the award becomes enforceable as a decree. en-us Mon, 29 Aug 2016 00:00:00 +0530 Sat, 11 May 2024 21:15:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313998 Section 22(1) of the Sick Industrial Companies Act, 1985 did not bar continuation of a pre-award arbitral proceeding where no enforceable award or decree existed and the matter had not reached the stage of execution. The statutory embargo applies only if the proceeding falls within the provision and its continuance would interfere with formulation, consideration, finalisation or implementation of a rehabilitation scheme. The Court distinguished adjudication of liability in arbitration from coercive recovery against a sick company's assets, and held that the objection under Section 22(1) would arise only when the award becomes enforceable as a decree. Case-Laws Indian Laws Mon, 29 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313998