https://www.taxtmi.com/caselaws?id=44671 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 bars coercive recovery proceedings against the properties of a sick industrial company while an enquiry under Section 16 is pending, a scheme is under preparation or consideration, or a sanctioned scheme is under implementation, unless the Board grants consent. The protection extends to recovery of sales tax arrears, so the State's power to levy tax remains intact but recovery is stayed until statutory approval is obtained. The creditor's remedy is suspended, not extinguished, and the suspension period is excluded for limitation purposes. en-us Mon, 04 Aug 1997 00:00:00 +0530 Mon, 29 Dec 2025 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44671 Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 bars coercive recovery proceedings against the properties of a sick industrial company while an enquiry under Section 16 is pending, a scheme is under preparation or consideration, or a sanctioned scheme is under implementation, unless the Board grants consent. The protection extends to recovery of sales tax arrears, so the State's power to levy tax remains intact but recovery is stayed until statutory approval is obtained. The creditor's remedy is suspended, not extinguished, and the suspension period is excluded for limitation purposes. Case-Laws VAT / Sales Tax Mon, 04 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44671