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2009 (5) TMI 546 - SC - Companies LawWhether any Industrial Company has become a sick industrial company, inter alia, upon receipt of a reference with respect to such company under section 15? Held that:- Appeal allowed. A suit is barred when an enquiry under section 16 is pending. It is also not in dispute that prior to institution of the suit, respondent did not obtain consent of the Board. A distinction has been made between a jurisdiction with regard to the subject-matter of the suit and that of the territorial and pecuniary jurisdiction. It was laid down that a case falling within the former category would make a judgment a nullity. As the appellant has deposited 50 per cent of the decretal amount Civil Court shall transfer the said amount to BIFR.
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