Search Results for "sick industrial unit"

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Search Results for "sick industrial unit"

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Supreme Court

Supreme Court Hears Civil Appeal on the Scope of Section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 Overriding the Transfer of Property Act, 1882 in a Pre-Existing Asset Sale Agreement. The AAIFR Ruled That Section 22A Does Not Apply to Pre-Existing Agreements, and the Supreme Court Was to Determine the Correctness.

1 Aug 2026

The Supreme Court heard a civil appeal arising from orders passed by the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) conce...

Supreme Court

Supreme Court Reverses High Court in SICA Case on Unsecured Creditor Rights - Sanctioned Rehabilitation Scheme Binding on All Creditors. Court held that under Sections 18(8) and 32 of Sick Industrial Companies (Special Provisions) Act, 1985, unsecured creditors cannot opt out of scaled-down payments and must accept scheme terms for company revival.

17 Mar 2023

The Supreme Court addressed a group of appeals concerning the binding effect of rehabilitation schemes sanctioned under the Sick Industrial Companies ...

High Court

Bombay High Court Quashes Process in NI Act Complaint Due to Bar Under SICA Section 22A. Proceedings under Section 138 of Negotiable Instruments Act, 1881 cannot continue against a sick company without BIFR consent.

9 Jul 2019

The petitioners, a company and its directors, challenged the order dated 20.04.2018 passed by the 25th Joint Civil Judge (Junior Division) and Judicia...

Supreme Court

Supreme Court Partially Allows Appeal in Recovery Suit Against Sick Industrial Company — Suspension of Proceedings Under Section 22(1) of SICA Does Not Bar Suit for Unadmitted Debt. High Court's Grant of 24% Compound Interest Reduced to 12% Simple Interest.

29 Apr 2024

The case involves a dispute between Fertilizer Corporation of India Ltd. (FCIL), a public sector undertaking, and M/s Coromandal Sacks Private Limited...

High Court

High Court of Karnataka Considers Writ Petitions Challenging Dismissal of Workman and Tribunal's Order in Industrial Dispute; Outcome Not Specified

11 Oct 2019

The workman, employed as an Accountant since 1995 and later promoted, was an active union member. On 25.11.2013, a strike notice under Section 22(1)(B...

High Court

Bombay High Court Dismisses Writ Petition Challenging Gratuity Order Against Sick Company — Payment of Gratuity Act, 1972 Overrides SICA Scheme. The court held that the statutory liability to pay gratuity under the Payment of Gratuity Act, 1972 cannot be overridden by a rehabilitation scheme under the Sick Industrial Companies (Special Provisions) Act, 1985.

2 May 2006

The petitioner, Metal Box India Ltd., a company incorporated under the Companies Act, 1956, challenged an order dated 16.11.2002 passed by the Appella...

High Court

High Court of Karnataka Passes Order in Writ Petition by Company Challenging Rejection of Application Under Industrial Park Scheme, 2002. Petitioner's Application Dated 15.12.2006 Under IPS 2002 Was Rejected on Ground That Scheme Expired on 31.03.2006.

17 Sep 2024

The petitioner, a private limited company, proposed to set up an industrial park named 'Salarpuria Touch Stone' in Bangalore under a Joint Development...

High Court

Bombay High Court Dismisses Writ Petitions in Industrial Dispute Over Unfair Labour Practice - Upholds Payment of Wages for Lockout Period but Denies Reinstatement. The court held that an illegal lockout entitles workmen to wages, but reinstatement cannot be granted in a closed mill under the MRTU & PULP Act, 1971.

26 Jun 2014

The judgment involves two writ petitions arising from an order of the Industrial Court, Mumbai dated 14 February 2003. The Sarva Shramik Sangh, a trad...

High Court

High Court Allows Amalgamated Company's Claim for Unabsorbed Depreciation of Sick Company Under Section 32(2) of Income Tax Act, 1961. The court held that unabsorbed depreciation of amalgamating company is deemed to be depreciation of amalgamated company under Section 32(6) and can be carried forward irrespective of whether amalgamating company filed returns.

7 Sep 2017

The case involves two income tax appeals filed by M/s. Ballarpur Industries Ltd. (BILT) against the Commissioner of Income Tax, Vidarbha, Nagpur, conc...

High Court

High Court of Bombay Hears Challenge to Stop Work Notice and Directions Under Regulation 58 of DCR for Greater Bombay 1991. Dispute Concerns Obligation of Cotton Textile Mill to Hand Over Land for Worker Housing and Open Spaces Immediately After Layout Approval.

11 May 2012

The matter concerned two properties owned by a textile company in Mumbai: a mill at Prabhadevi and Spring Mills at Dadar. The company closed the latte...

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