Supreme Court · 2005 INSC 459 · Decided 29 September 2005
M/S. Ngef LTD. v. M/S. Chandra Developers PVT. LTD. and ANR.
- Court
- Supreme Court of India
- Citation
- 2005 INSC 459 · [2005] SUPP. 3 S.C.R. 747
- Case number
- CIVIL APPEAL No. 5199/2004
- Decided
- 29 September 2005
- Bench
- S.B. SINHA, C.K. THAKKER (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Companies Act Section 443, 446, 447, 529, 433
Headnote
B Sick Industrial Companies (Special Provisions) Act, 1985 (SICA)­ Section 20(4)-Companies Act, 1956-Sections 443, 446, 447, 529-A, 536- Recommendation by Board of industrial and Financial Reconstruction (BIFR) C to High Court to wind up a sick industrial company. Observation of BIFR that BJFR and High Court do not · have concurrent jurisdiction to sell the assets-BIFR alone controlled the assets and had power to dispose them till winding up order was passed by D High Court, and for this purpose leave of latter was not required-BIFR being a statutory authority, in absence
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)