1999 (1) TMI 491

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..... ccording to learned counsel for the applicants, proceedings have been registered before the BIFR. Learned counsel contends that in spite of that the present application is maintainable as the relief sought by the applicants is for return of the property belonging to the applicants and such a bar of section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985, will not apply. Learne .....

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..... order passed in a suit for return of property. The learned judge after considering the provisions of section 22 held that the suit was not a suit for recovery of money or for, the enforcement of any security against the industrial company or of a guarantee in respect of any loan or advance granted to the industrial company and in that light of the matter held that section 22 would not be attracted .....

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..... y official liquidator has been recorded that the company has gone out of liquidation in view of the order passed by this court. In so far as sub-section (2) is concerned, the said issue will also arise in proceedings where the order for winding up of the company has been made. In that light of the matter I' am unable to accept the contention of learned counsel that the application is maintainable. .....

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