1995 (3) TMI 4

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t, the respondent company could not be said to be in default under the provisions of section 18(7). - Civil Appeals Nos. 1818 and 1819(NT) of 1977. - - - Dated:- 28-3-1995 - S. P. BHARUCHA, B. L. HANSARIA AND S. C. SEN JJ. For the Appellant : V. U. Eradi for Ms. A. Subhashini For the Respondent : Sudhir Kr. Gupta JUDGMENT Under the provisions of section 18(3F) of the Indian I .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... F) and the respondent company had acted in accordance with it, the respondent company could not be said to be in default under the provisions of section 18(7). Having heard learned counsel for the Revenue and perused the impugned judgment, we are of the view that the High Court was justified in the view that it took. Accordingly, the appeals are dismissed. There shall be no order as to costs. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X