https://www.taxtmi.com/caselaws?id=458445 The protective bar under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was held to apply once the Section 15 process had been set in motion and an appeal under Section 25 remained pending. Coercive action against the sick company's assets during that period was treated as contrary to the statutory restraint. On that basis, the auction proceedings conducted while the appeal was pending were held to lack legal authority, and the sale confirmation was treated as equally infirm and liable to be set aside. en-us Thu, 30 Sep 2010 00:00:00 +0530 Mon, 28 Oct 2024 15:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458445 The protective bar under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 was held to apply once the Section 15 process had been set in motion and an appeal under Section 25 remained pending. Coercive action against the sick company's assets during that period was treated as contrary to the statutory restraint. On that basis, the auction proceedings conducted while the appeal was pending were held to lack legal authority, and the sale confirmation was treated as equally infirm and liable to be set aside. Case-Laws Companies Law Thu, 30 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458445