https://www.taxtmi.com/caselaws?id=458442 A rehabilitation scheme sanctioned by the Board for Industrial and Financial Reconstruction, and consented to by the Employees State Insurance Corporation, had statutory force and was binding on the parties. Because the scheme expressly dealt with settlement of ESI dues and contemplated waiver of damages, the corporation could not invoke Regulation 31(c) of the ESI General Regulation 1951 to defeat the relief recorded in the sanctioned scheme. The refusal to waive damages was therefore unsustainable, the impugned demand could not be sustained, and the writ petition succeeded with the order set aside. en-us Tue, 12 Mar 2013 00:00:00 +0530 Mon, 28 Oct 2024 11:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458442 A rehabilitation scheme sanctioned by the Board for Industrial and Financial Reconstruction, and consented to by the Employees State Insurance Corporation, had statutory force and was binding on the parties. Because the scheme expressly dealt with settlement of ESI dues and contemplated waiver of damages, the corporation could not invoke Regulation 31(c) of the ESI General Regulation 1951 to defeat the relief recorded in the sanctioned scheme. The refusal to waive damages was therefore unsustainable, the impugned demand could not be sustained, and the writ petition succeeded with the order set aside. Case-Laws Indian Laws Tue, 12 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458442