9911796707
TMI Blog2010 (9) TMI 966X X X X Extracts X X X X X X X X Extracts X X X X ..... has directed payment of tax to the tune of Rs. 10,32,185, for the period November, 2007 to August, 2009, within seven days. A reading of the impugned notice shows that proceedings are pending before BIFR against the petitioner-company and it is an admitted fact. In those circumstances, under section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985, which is as follows: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and no suit for the recovery of money or for the enforcement of any security against the industrial company or of any guarantee in respect of any loans or advance granted to the industrial company shall lie or be proceeded with further, except with the consent of the Board or, as the case may be, the appellate authority. the amount is not recoverable, since proceedings are before BIFR where r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orks Department unless consent is obtained from BIFR. It is always open to the respondents in these cases to take necessary steps to implead themselves before the BIFR and seek permission for the purpose of recovery of the amount from the assets of the petitioner s company, which has been declared as sick company , in which event, it is for the BIFR to decide on merit and based on the scheme that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... les tax to be paid before BIFR proceedings are commenced, certainly they are to be referred to BIFR as per section 22 of the said Act. However, on the facts of the present case, it was a failure on the part of the petitioner to comply with the deferral scheme and non-payment of the amount, as per the instalments, has resulted in accumulation of the said amount. Therefore looking at in any angle, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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