“Different situations can arise in the interplay between The Companies Act, 1956 and The Sick Industrial Companies (Special Provisions) Act, 1985 (“SICA”) [for instance, in the matter of winding up of a company: i) where winding up proceedings are pending, but no order of winding up has been passed against the company, and a reference […]
Read more "SC Resolves Conflict Between SICA & Companies Act"Interesting questions on the interplay between The Sick Industrial Companies (Special Provisions) Act, 1985 (“SICA“) and The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act“) have been answered in Madras Petrochem Ltd. v. BIFR, [Civil Appeal Nos. 614-615 of 2016] by Nariman J. My Lord, Is it true […]
Read more "SC Resolves Conflict Between SICA & SARFAESI Act"“It… saddens us to see the manner in which the decision in the case of Harshad Govardhan Sondagar, (2014) 6 SCC 1 has been misinterpreted… random sentences have been picked up from the judgment and used, without any attempt to understand the true purport of the judgment in its entirety. It is a well settled […]
Read more "SC Resolves Conflict Between SARFAESI Act & Rent Control Act"“In Pegasus Asset Reconstruction P. Ltd. v. Haryana Concast Ltd., the Supreme Court was concerned with a conflict between the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for brevity ‘the SARFAESI Act’) on the one hand and the Companies Act, 1956 on the other. The specific conflict was identified as […]
Read more "SC Resolves Conflict Between SARFAESI Act and Companies Act"