Supreme Court of India
Gram Panchayat and Anr. v. Shree Vallabh Glass Works Limited and Ors.
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1 Supreme Court bench has cited this judgment.
From the headnote
c p The Sick Industrial Companies (Special Provisions) Act, 1985: Ss. 16, 17 & 22-Sick industrial company-Proceedings for recovery of amount due-Validity of Section 16 of the Sick Industrial Companies (Special Provisions) Act, 1985 authorises the Board for Industrial and Financial Recons truction established under the Act to make enquiry for determining whether any industrial company has become a sick industrial company. Section 17(2) empowers the Board to grant a reasonable time to such a company to make its net worth positive. Where such a course is not practicable s. 17(3) empowers the
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