Supreme Court of India
Rishabh Agro Industries Ltd. v. P.N.B. Capital Services Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
2 Supreme Court benches have cited this judgment.
What the Court ordered
We are of the opinion that the order of the High Court impugned in this appeal cannot be sustained.
Judgment, page 13
From the headnote
Sick Industrial Companies (Special Provisions) Act, 1985: Sections 15, 16 and 16(3) Expkmation-Enquiry-Commencement of_,. Deemed date-For purposes of S.22-Held: ls the date of submission of reference under S.15. Section 22-Applicability of--High Court ordered winding up of company on account of non-payment of amounts due to its creditors-After making only a part-payment company filed reference under S.15(1) before BIFR-Thereafter, the company moved an application before Division Bench under S.22 for staying the proceedings-But application rejected-Correctness of-Held: S.22 is applicable even
Where later benches applied it
- 2016 M/s. Madura Coats Limited v. M/s. Modi Rubber Ltd. & Anr.
- 2023 Ranjan Kumar Chadha v. State of Himachal Pradesh
Of those, 1 relied on · 1 referred to
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