ASHUTOSH (lawyer) 05 January 2009

seek judgement and adviced

HI to all and wish you a very happy new year.

I have file a suit for recovery before High Court against a limited company. defendant company has file a application under section 22(1) sica for stayed the recovery suit they stated that company has file there representation before BIFR and same has been registered and the term of section 22(1) of SICA during the pendency of the matter with BIFR OR AAIFER no coercive recovery proceedings cold lie or be proceed what shold i do some one told me rearding some judgements of suprem courts which say proceeding cant stop pls provid me those latest judgements or give advice regarding "form A"

THANKS IN ADVANCED

ASHUTOSH

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AEJAZ AHMED (Legal Consultant/Lawyer) 05 January 2009

DEAR ASHUTOSH,

Yes, Recovery Proceedings against the Sick Company could not be stopped:

The Supreme Court of India is set side the order of High Court of Delhi Court by imposing heavey cost of Rs.50,000/- and confirmed the order of the DRAT, by which " recovery proceeding could be effected against the company.

I will post the detail order of the Suprem court later.

Following is the case in which SC passed Judgment: