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M/S. Kotak Mahendra Finance Limited Vs. M/S. Deve Paints Limited

Court : Mumbai

Subject : SICA

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22(1) and 27; Companies Act, 1956 - Sections 16, 17 and 25; Sick Industrial Companies (Special Provisions) Amendment Act, 1993 - Sections 22(1)

Reported in : AIR1997Bom401; 1997(3)ALLMR678; 1997(4)BomCR229; (1997)3BOMLR233; 1997(3)MhLj326

contest the finance company's sole and exclusive ownership thereon.5. On October 8, 1993 the finance company communicated the lessee company that an amount of Rs. … by common order. The appeals No. 85/97 and 86/97 have been preferred by original defendant M/s. Kotak Mahendra Finance Limited, while appeal Nos. 87-97 and 88/97 have been filed by original plaintiffs M/s. Deven Paints Limited.2. M/s. … pendency of proceedings before the BIFR it is protected against all types of proceedings and attachments particularly under Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (for short, 'Act of 1985'). Notices of motion were

Jindal Menthol and Investments Ltd. Vs. Prakash Industries Ltd.

Court : Delhi

Subject : SICAArbitration

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22; Arbitration and Conciliation Act, 1996 - Sections 9

Reported in : [2001]106CompCas473(Delhi)

other hand has relied upon a judgment of the learned Single Judge of this Court in Credit Capital Finance Corporation v. Foremost Indus tries Ltd. [1996] 87 Comp.Cas. 251. Construing the judgment of Shree Chamundi Mopeds Ltd. … property of the sick industrial company. It is true that by the Sick Industrial Companies (Special Provisions) Amendment Act, 1993, Section 22(1) was amended and, 'and no suit for the recovery of money or for the instrument of any

Space Capital Service Ltd. Vs. Prakash Industries Ltd. and ors.

Court : Delhi

Subject : Arbitration

Acts : Arbitration and Conciliation Act, 1996 - Sections 9; Sick Industrial Companies (Special Provision) Act, 1985 - Sections 22

Reported in : 2000VAD(Delhi)476; [2000]101CompCas437(Delhi)

petitioner has relied upon a judgment of the learned Single Judge of this Court in M/s Credit Capital Finance Corporation Vs . M/s Foremost Industries Limited : AIR1996Delhi310 . Construing the judgment of Chamundi Mopeds (supra), the … property of the sick industrial company. It is true that by the Sick Industrial Companies (Special Provisions) Amendment Act, 1993 Section 22(1) was amended and, 'and no suit for the recovery of money or for the instrument of any

Blue Star Ltd. Vs. Hindustan Photo Films Manufacturing Co. Ltd.

Court : Chennai

Subject : SICAArbitrationCompany

Acts : Sick Industrial Companies Act, 1985 - Sections 15(1), 22 and 22(1); Arbitration Act, 1940 - Sections 41B; Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 22(1)

Reported in : 1997(2)CTC538

before the Board. Section 22 of the Act was amended by the Sick Industrial Companies (Special Provisions) Amendment Act, 1993. After the amendment, the section specifically prohibits the institution or continuance of any suit for recovery of money … the object of the Act by ensuring that a proceeding having an effect on the working or the finances of a sick industrial company shall not be instituted or continued during the period the matter is under

Ksl and Industries Ltd. Vs. Arihant Threads Ltd. and ors.

Court : Supreme Court of India

Subject : SICABanking

Acts : Sick Industrial Companies (Special Provisions) Act, 1985 - Sections 2, 3, 15 to 19, 19A, 20, 21, 22, 22(1), 22A, 25, 29, 32 and 32(1); Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 25, 28, 29, 30, 34, 34(1) and 34(2); Income Tax Act, 1961 - Sections 72A; Companies Act, 1956 - Sections 529(1) and 529A; Foreign Exchange Regulation Act, 1973; Urban Land (Ceiling and Regulation) Act, 1976; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951 - Sections 29 and 46B; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Small Industries Development Bank of India Act, 1989; Code of Civil Procedure (CPC) , 1908 - Sections 9; Recovery of Debts Due to Banks and Financial Institutions (Amendment) Act, 2000;

Reported in : IV(2008)BC421(SC); 153(2008)DLT27(SC); 2008(12)SCALE42; (2008)9SCC763

for short) for recovery of Rs. 25,26,60,836/- under the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (hereinafter referred to as the `RDDB' Act). On June 10, 2002, M/s Roland Exports (successor of Goindwal Industrial … the Debt Recovery Appellate Tribunal, Delhi (`DRAT' for short) and held that in view of the provisions of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereafter referred to as `SICA'), no recovery proceedings could … was the predecessor of the Stressed Assets Stabilisation Fund (`SASF' for short), financed the project undertaken by the Company by way of foreign currency loan

Navbharat International Ltd. Vs. Cargo Onboard M.V. Amitees (at Kandla ...

Court : Mumbai

Subject : Company

that even though both the conflicting statutes SICA and Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short the œRDDB?) contain a non-obstante clause, in case of conflict the RDDB Act, 1993 will prevail … whether the present Notices of Motion can be proceeded with or not in view of the provisions of Section 22 of SICA. 8. The matter was stood over to 20th January 2014 on which date again it was … the Plaintiff-Company has filed a reference before the Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 (œSICA?) and the reference

Navbharat International Ltd. Vs. Cargo Onboard M.V. Amitees (at Kandla ...

Court : Mumbai

Subject : Company

that even though both the conflicting statutes SICA and Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (for short the œRDDB?) contain a non-obstante clause, in case of conflict the RDDB Act, 1993 will prevail … whether the present Notices of Motion can be proceeded with or not in view of the provisions of Section 22 of SICA. 8. The matter was stood over to 20th January 2014 on which date again it was … the Plaintiff-Company has filed a reference before the Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 (œSICA?) and the reference

Assam Leather Industry Vs. Union of India (Uoi) and ors.

Court : Guwahati

Subject : Banking

Acts : Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 25, 28 and 31; Constitution of India - Articles 14, 248, 323A, 323B and 371A; Code of Civil Procedure (CPC) ; Transfer of Property Act; Nagaland Administration of Justice Rules, 1937 - Rule 33

as the jurisdiction of the civil court has not been ousted to grant declaration as sought for. 65. Section 22 of the Act, 1993 provides for procedure and powers of the Tribunal and the Appellate Tribunal wherein it … locking up of huge funds, Dr. Manmohan Singh, the then Minister of Finance, introduced the Recovery of Debts Due to Banks and Financial Institutions Bill, … raise the question of legality, validity and constitutionality of Recovery of Debts Due to Banks and Financial Institution Act, 1993 (hereinafter called 'the Act'), and other actions related to the Debt Recovery Tribunal at Guwahati constituted under the

Allahabad Bank Vs. Canara Bank and Another

Court : Supreme Court of India

Subject : BankingCompany

Acts : Companies Act, 1956 - Sections 19, 232(1), 442, 445, 446, 529A and 537; Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - Sections 17, 18, 19, 20, 22, 25 and 34; Constitution of India - Articles 226, 227 and 323A; Banking Regulation Act, 1949 - Sections 5; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970; Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 - Sections 3; Industrial Finance Corporation Act, 1948; State Financial Corporations Act, 1951; Unit Trust of India Act, 1963; Industrial Reconstruction Bank of India Act, 1984; Companies (Amendment) Act, 1960; Life Insurance Corporation Act, 1956 - Sections 15 and 41; Old Companies Act, 1913 - Sections 171; Banking Companies Act, 1949 - Sections 45C; Civil Procedure

Reported in : 2000(3)ALLMR(SC)475; 2000(2)CTC723; JT2000(4)SC411; 2000(3)SCALE169; (2000)4SCC406; [2000]2SCR1102; AIR 2000 SC 1535; MANU/SC/0262/2000

the Industrial Credit and Investment Corporation of India Ltd; (ii) the Industrial Finance Corporation of India; (iii) the Industrial Development Bank of India; (iv) the … relating to the impact of the provisions of the Recovery of Debts due to Banks and Financial Institutions Act, 1993 (hereinafter called the RDB Act) on the provisions of the Companies Act, 1956. The immediate dispute before us … Bank filed W.P, under Articles 226, 227.7. Canara Bank then filed applications in the Debt Recovery Tribunal under Section 22 of the RDB Act in January, 1999 seeking stay of recovery proceedings in RC No. 9/98. They were

Sone Vanaspati Vs. State of Bihar and ors.

Court : Patna

Subject : Sales Tax

1993, declared that exemption be given--Cannot be allowed. [Sales-tax--Exemption from--Available only when notification under Section 7(3) of Bihar Finance Act, 1993 is issued].(B) Bihar Finance Act, 1981, Section 7(3) - Estoppel by conduct--Bihar Industrial Policy, 1993, Clause 10.5--Exemption from … a right which can be enforced in a court of law which includes a writ application under Articles 226 and 227 of the Constitution of India, in the High Court.In Corpus Juris Secudum Volume 31 page 283