https://www.taxtmi.com/caselaws?id=459122 Section 22(1) of SICA bars further winding up proceedings once a BIFR reference is registered and inquiry is deemed to have commenced, so the Company Court cannot proceed with the petition during that statutory protection. An alleged admission of debt, written consent, or a conditional promise to pay does not create an exception to the bar, especially where there is no concluded bilateral agreement, no executable undertaking, and no completed condition precedent. The pending winding up petition was therefore kept in abeyance in view of SICA protection. en-us Mon, 05 Sep 2016 00:00:00 +0530 Mon, 02 Dec 2024 19:08:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459122 Section 22(1) of SICA bars further winding up proceedings once a BIFR reference is registered and inquiry is deemed to have commenced, so the Company Court cannot proceed with the petition during that statutory protection. An alleged admission of debt, written consent, or a conditional promise to pay does not create an exception to the bar, especially where there is no concluded bilateral agreement, no executable undertaking, and no completed condition precedent. The pending winding up petition was therefore kept in abeyance in view of SICA protection. Case-Laws Indian Laws Mon, 05 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459122