TaxTMI 
TaxTMI 
1998 (4) TMI 5
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....ction 18(4) read with section 19(3) of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), had sanctioned rehabilitation/amalgamation scheme for amalgamating Mahindra Nissan Allwyn Limited (MNAL) with Mahindra and Mahindra Ltd. Under the scheme, certain amounts were to be spent by Mahindra and Mahindra during the financial year 1993-94 to the financial year 1996-97. In terms of th....
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....he petitioner in terms of its application dated December 29, 1995 (annexure F at page 165), had sought certain modifications seeking removal of the ceiling of Rs. 22.32 crores on the benefit under section 72A of the Income-tax Act. This application is stated to have been sent by the petitioner to the Board for Industrial and Financial Reconstruction at Delhi from Bombay by post. It is claimed by t....
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.... orders in this petition. Learned counsel for the petitioner submits that for the present his client would be satisfied if, without prejudice to the rights and contentions of the petitioner, the Board for Industrial and Financial Reconstruction is directed to decide the matters raised in annexure F, dated December 29, 1995, without being influenced by order dated December 29, 1995. This seems to b....