V. Ramasubramanian, J.—Unable to reconcile itself with the opinion rendered by a Division Bench of this Court in Triveni Alloys Limited v. Board for Industrial and Financial Reconstruction (2006 (132) Comp. Cases 190 (Mad)), another Division Bench has referred the following questions for the consideration of the Full Bench:-

(i) Whether an action initiated in terms of Section 13(4) of the Securitisation Act, by the secured creditors, representing three-fourths in value of the total amount outstanding, would result in the automatic abatement of the proceedings before BIFR, in view of the third proviso to section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985, inserted by way of amendment under Act 54 of 2002 ?

(ii) Whether the secured creditors are obliged to seek permission of BIFR, for taking action under Section 13(4), for bringing to an end the proceedings before BIFR, when the matter is pending at the stage of Section 15 of Sick Industrial Companies (Special Provisions) Act, 1985 ?

(iii) Whether the ratio decidendi in Triveni Alloys Limited requires reconsideration or represents the correct view ?

2. We have heard Mr.AR.L.Sundaresan, learned Senio