( 1 ) * * * *

( 2 ) ). The learned Senior Standing Counsel for the Central Government raised a preliminary objection against the consideration of the proposed scheme on the ground that once the Court 6rants permission under sec. 18fa of the Industries (Development and Regulation) Act to takeovcr the management or control of the sick unit it is precluded from entertaining an application under sec. 391 of the Companies Act 1956 relating to that Unit. In order to understand the submission made at the Bar it is necessary to examine a few provisions of the Act.

( 3 ) ). The preamble of the Act shows that it was enacted to provide for the development and regulation of certain industries. Section 15 empowers the Central Government to cause investigation to be made in respect of any scheduled industry or industrial undertaking If after such investigation the Central Government is satisfied that action under sec. 16 is desirable it may issue directions to the concerned industrial undertaking for all or any of the purposes set out in clauses (a) to (d) of sub-section (1) thereof. If the industrial undertaking fails to comply with such directions of if an undertaking respect wh