https://www.taxtmi.com/caselaws?id=458486 A petition for sanction of a scheme of arrangement under Sections 391 and 394 of the Companies Act, 1956 may be entertained even where a reference under Section 15 of the Sick Industrial Companies (Special Provisions) Act is pending before BIFR or AAIFR, because the company court's jurisdiction is not wholly excluded. The special sick company regime prevails where there is overlap, and the Companies Act power must yield to any rehabilitation process or scheme under that statute. Proceedings under the Companies Act may continue only to the extent they do not conflict with the special statutory framework. en-us Mon, 09 Aug 2010 00:00:00 +0530 Wed, 30 Oct 2024 15:02:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458486 A petition for sanction of a scheme of arrangement under Sections 391 and 394 of the Companies Act, 1956 may be entertained even where a reference under Section 15 of the Sick Industrial Companies (Special Provisions) Act is pending before BIFR or AAIFR, because the company court's jurisdiction is not wholly excluded. The special sick company regime prevails where there is overlap, and the Companies Act power must yield to any rehabilitation process or scheme under that statute. Proceedings under the Companies Act may continue only to the extent they do not conflict with the special statutory framework. Case-Laws Companies Law Mon, 09 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458486