9911796707
TMI Blog2006 (10) TMI 228X X X X Extracts X X X X X X X X Extracts X X X X ..... . 52.43 lakhs was to be paid in 24 monthly instalments. The respondent-company stopped the payments midway, claiming protection of a notification issued under the U. P. Industrial Undertakings (Special Provisions for Prevention of Unemployment) Act, 1966. The proceedings were kept pending as the notification was to expire in June 2006. It was renewed with the condition that the company will start production after expediting the process of finding out a strategic partner and will continue to pay the wages to workmen. The respondent-company failed to comply with the conditions and lost the protection. The respondent-company, thereafter, made a reference under section 15(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oviding for execution of the consent order through the High Court, which has exclusive jurisdiction to pass any order including enforcement of the orders passed by it; (2) Coastal Roadways Ltd. v. Kanoi Plantation P. Ltd. [2006] 132 Comp Cas 503 (Cal) in support of his submission that the word "court" under section 10 of the Companies Act, 1956, does not intend to mean and to include civil court ; (3) Rameshwar v. Fifth Addl. Dist. Judge, Basti, AIR 1999 All 1 and Madanlal Agarwal v. Smt. Kamlesh Nigam, AIR 1975 MP 132, in support of his submissions that where interlocutory applications are filed, it is the duty of the court to determine as to whether it could have any impact on the decision and merits of the proceedings. Shri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Value Appliances Ltd. v. Canara Bank [1998] 93 Comp Cas 26 ; [1998] 5 SCC 554 and Rishabh Agro Industries Ltd.'s case ( supra ) it was held that the Supreme Court only interprets the law and cannot legislate it. If a provision of law is misused or is capable of being misused, to the abuse of process of law, it is for the Legislature to amend, modify or repeal it, if deem necessary. The respondent-company has huge liabilities and is also facing industrial unrest. It has closed production and is unable to continue. In order to pay off its dues it entered into a settlement with the petitioner-company on January 12, 2006, and thereafter taking special permission of the Registrar of Companies for closing of the accounts, after 18 months ..... X X X X Extracts X X X X X X X X Extracts X X X X
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