Supreme Court of India
Yash Deep Trexim Private Limited v. Namokar Vinimay Pvt. Ltd. & Ors.
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.
What the Court ordered
We are of the view that it would be just, proper and equitable to leave the contesting parties to pursue their remedies before the High Court or such other forum as may be competent in law.
Judgment, page 13
From the headnote
Sick Industrial Companies (Special Provisions) Act, 1985 - s.3(o) - Applicability of the Act - To the foreign companies registered in India - Held: In view of object and scheme of the Act and the financial health of the company in question, the company does not fall within ambit of expression 'sick industrial company' defined uls. 3(o) - Hence provisions of the Act does not apply - The question whether the Act applies to foreign companies registered in India, is left open. The main question for consideration in the present appeals was whether the provisions of the Sick Industrial Companies
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