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2008 (8) TMI 223 - HC - CustomsSick company - Dues under Custom Act - recovery proceedings of liability due, by invoking bank guarantee - proceedings for recovery, either by invoking the bank guarantee or otherwise, is essentially a provision for enforcement and recovery of a liability due - Such distress action, apparently, falls within the purview of Section 22(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 – therefore, revenue have to get appropriate orders from the BIFR in terms of the SICA
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