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TMI BlogReference to Tribunal.X X X X Extracts X X X X X X X X Extracts X X X X ..... are a scheme of its revival and rehabilitation and submit the same to the Tribunal along with an application containing such particulars as may be prescribed for determination of the measures which may be adopted with respect to such company: Provided that nothing contained in this sub-section shall apply to a Government company: Provided further that a Government company may, with the prior a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002): Provided also that no reference shall be made under this section if the secured creditors representing three-fourth in value of the amount outstanding against financial assistance disbursed to the borrower have taken measures to recover their secured debt under sub-section (4) of section 13 of the Securitisation and Re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ck industrial company, make a reference in respect of such company to the Tribunal for determination of the measures which may be adopted with respect to such company: Provided that a reference shall not be made under this sub-section in respect of any industrial company by___ (a) the Government of any State unless all or any of the industrial undertakings belonging to such company are situate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tribunal may, on receipt of a reference under sub-section (1), pass an order as to whether a company in respect of which a reference has been made has become a sick industrial company and such order shall be final. --------------------------------------- Notes:- [1] Part VIA, comprising sections 424A to 424L inserted by the Companies (Second Amendment) Act, 2002, w.e.f. a date yet to be notif ..... X X X X Extracts X X X X X X X X Extracts X X X X
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