Supreme Court · 1990 INSC 87 · Decided 15 March 1990
Gram Panchayat and ANR. v. Shree Vallabh Glass Works Limited and ORS.
- Court
- Supreme Court of India
- Citation
- 1990 INSC 87 · [1990] 1 S.C.R. 966
- Case number
- SPECIAL LEAVE PETITION (CIVIL) No. 14395/1989
- Decided
- 15 March 1990
- Bench
- K. JAGANNATHA SHETTY, R.M. SAHAI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 226
Headnote
c D E p G The Sick Industrial Companies (Special Provisions) Act, 1985: Ss. 16, 17 & 22-Sick industrial company-Proceedings for recovery of amount due-Validity of Section 16 of the Sick Industrial Companies (Special Provisions) Act, 1985 authorises the Board for Industrial and Financial whether any industrial company has become a sick industrial company. Section 17(2) empowers the Board to grant a reasonable time to such a company to make its net worth positive. Where such a course is not practicable s. 17(3) empowers the Board to appoint an operating agency to prepare a
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