Home Case Index All Cases Companies Law Companies Law + SC Companies Law - 2008 (5) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2008 (5) TMI 423 - SC - Companies LawWhether Article 183 of the Limitation Act shall have any application in regard to the applicability of the provisions of the Limitation Act? Whether such a Scheme could be placed for approval before BIFR? Held that:- Appeal allowed. Before BIFR could approve a scheme, the same must be drawn in terms of the provisions of the Act and not de hors the scheme. The order of BIFR dated 1-5-2007 also clearly show that it has granted its approval in view of the observations made by the appellate authority. It might have done so keeping in view the doctrine of judicial discipline in mind. The order of BIFR is not an outcome of any pre-application of mind. There is no finding that it has taken into consideration all the relevant facts. There is nothing to show that such an order is fair or reasonable or meets the requirements of law. Thus not only the judgment of the High Court but also the orders of BIFR as also the AAIFR should be set aside and the matter should be remitted to the BIFR so as to enable it to proceed in accordance with the provisions of S1CA afresh.
|