Hi Everyone,

We are a Public Limited Company situated in Maharashtra. We have been paying our grampanchayat taxes regularly since its inception of factory. From last several years, our company was declared sick under the SICA 1985. As per the BIFR's order we have also been paying the dues in installment. But, for the current fin year, the grampanchayat has raised its bill and demanding for the same. Presently, the company is not in a position to make any payments.

Please guide in the matter, whether the Grampanchayat Authorities will serve or make any Japti Warrant (Forceful Recovery) against the company ?

This is very very urgent, please revert with your feedback.

Thanks in advance

gunjan

NO, It Cannot japti.

Reason:

Section 22. SUSPENSION OF LEGAL PROCEEDINGS, CONTRACTS, ETC.

(1) Where in respect of an industrial company, an inquiry under section 16 is pending, or any scheme referred to under section 17 is under preparation or consideration or a sanctioned scheme is under implementation or where an appeal under section 25 relating to an industrial company is pending, then, notwithstanding anything contained in the Companies Act, 1956 (1 of 1956) or any other law or the memorandum and articles of association of the industrial company or any other instrument having effect under the said Act or other law, no proceedings for the winding-up of the industrial company or for execution, distress or the like against any of the properties of the industrial company or for the appointment of a receiver in respect thereof and no suit for the recovery of money or for the enforcement of any security against the industrial company or of any guarantee in respect of any loans, or advance granted to the industrial company shall lie or be proceeded with further, except with the consent of the Board or, as the case may be, the Appellate Authority

Regards

Bharath Reddy