Supreme Court of India
Ksl & Industries Ltd. v. M/sarihantthreads 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.
3 Supreme Court benches have cited this judgment.
What the Court ordered
We hold that the D provisions of SICA, in particular Section 22, shall prevail over the provision for the recovery of debts in the RDDB Act.
Judgment, page 27
From the headnote
Sick Industrial Companies (Special Provisions) Act, 1985- s. 22- Recovery of Debts Due to Banks and Financial Institutions Act, 1993 - s.34 - Interpretation of two Acts - Which of the two Acts to prevail, in view of non-obstante clause in both the legislation -Held: Provisions of SICA, in particular s. 22, would prevail over the provision for the recovery of debts · in the RDDB Act- Purpose of the two Acts is entirely different and where actions under the two laws may seem to be in conflict, Parliament has wisely preserved the proceedings under the SICA, by specifically providing for
Authorities it was built on
Where later benches applied it
- 2023 K. C. Ninan v. Kerala State Electricity Board & Ors.
- 2023 Sabarmati Gas Limited v. Shah Alloys Limited
- 2021 Forum for People’s Collective Efforts (fpce) & Anr. v. The State of West Bengal & Anr.
Of those, 3 referred to
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