SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
judgment-img

2011 Supreme(Del) 417

RAJIV SHAKDHER, SANJAY KISHAN KAUL
Lords Chloro Alkali Limited – Appellant
Versus
Bharat Heavy Electricals Limited – Respondent


Advocates:
Counsels:
For Appellant/Petitioner/Plaintiff: Purti Marwaha, Jayashree Shukla and Varsha Banerjee, Advs.
For Respondents/Defendant:Bhaskar P. Gupta, Sr. Adv., A.K. Roy, Adv. for Respondent No. 1

JUDGMENT

Sanjay Kishan Kaul, J.

1. The present writ petition raises the following question of law:

Whether a Public Sector Enterprise/Undertaking (for short "PSU?) having dues outstanding in respect of a commercial transaction from a sick company within the meaning of The Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred to as "the SICA?) falls within the definition of "other authority" for purposes of Section 19(1) of the SICA and is entitled to the benefit of Sub-section (2) of Section 19 of the SICA of circulation of the scheme and entitlement to obtain its consent?

2. Respondent No. 1 Company supplied one unit of 12KA, 360V DC 6 Pulse Tyristor Converter System to the Petitioner Company against a purchase order dated 10.4.1996 for a plant at Alwar. Only some part payments were made when the net worth of the Petitioner Company was wiped out and, thus, proceedings were initiated by the Petitioner Company under the SICA for being declared as a sick company. These proceedings resulted in examination of a scheme for revival of the Petitioner Company and the final approved scheme in terms of the order dated 30.11.2006 of the BIFR envisaged settlement of dues o



















































Click Here to Read the rest of this document

1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top