1997 (11) TMI 422

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....nt Corpn. of India Ltd. respondent has filed this application under section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 ('the Act') alleging that K.C. Sodhia was appointed as sole arbitrator to adjudicate the disputes relating to purchase order No. 4/81/6(14) /81 - MMO dated 12-6-1981 regarding supply of griding media and he gave his award dated 30-6-1992 directing the respo....

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....ondent a sick company and IFCI has been appointed as operating agency, as alleged. It is stated that the award is still to be made the rule of the Court. Only the proceedings to execute the decree, if any, are liable to be stayed under section 22. 3. In support of the contention that on identical facts further proceedings were stayed under section 22(1), Shri S.K. Taneja has invited my attentio....

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....stion is whether they fall in category (2). It has been urged by the learned counsel for the appellant-company that such proceedings fall in category (2) since they are proceedings against the property of the sick industrial company. The submission is that the leasehold right of the appellant-company in the premises leased out to it is property and since the eviction proceedings would result in th....