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2000 (7) TMI 852 - SUPREME COURTWhether section 22 of the Sick Industrial Companies (Special Provisions) Act, 1985 covers a suit against the guarantor of a loan or advance that has been granted to the concerned industrial company? Held that:- Appeal allowed. Analysing the relevant words in section 22 it is found that they are clear and unambiguous and that they provide that no suit for the enforcement of a guarantee in respect of any loan or advance granted to the concerned industrial company will lie or can be proceeded with without the consent or the Board or the appellate authority. When the words of a legislation are clear, the Court must give effect to them as they stand and cannot demur on the ground that the Legislature must have intended otherwise. Therefore, the first respondent’s suit for the enforcement of the guarantees in respect of the loans granted to the first appellant cannot be proceeded with unless consent as required by section 22 is obtained.
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