The case involves a civil appeal against the order of the High Court of Delhi regarding the maintainability of a reference filed by Zenith Infotech Limited before the Board for Industrial and Financial Reconstruction (BIFR) under Section 15 of the Sick Industrial Companies Act (SICA). The reference was initially rejected by the Registrar of the Board, a decision upheld by the Secretary and Chairman of the Board. Meanwhile, a winding-up petition against Zenith Infotech was admitted by the High Court of Bombay, leading to a conflict between the proceedings under SICA and the winding-up process. The High Court of Delhi held that the Registrar lacked the power to adjudicate whether a company is an industrial company, and the reference was still pending. The Supreme Court
…Bank of New York Mellon, London Branch, is the appellant. Zenith Infotech Limited is the respondent. Zenith Infotech Limited filed a reference with the Board for Industrial and Financial Reconstruction (BIFR) under Section 15 of the Sick Industrial Companies Act (SICA). The Registrar of the BIFR rejected the reference on August 12, 2013, stating that Zenith Infotech was not an industrial company under Section 3(e) and 3(f) of SICA. Zenith Infotech appealed to the Secretary of the Board, which was dismissed on September 13, 2013. A further appeal to the Chairman of the Board was also dismissed. On July 30, 2013, a winding-up petition against Zenith Infotech was admitted by the High Court of Bombay. The order of admission was affirmed by the Division Bench in appeal. The
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Zenith Infotech Ltd. filed a Reference before…
The Board rejected the reference on the ground…
The case involves a civil appeal against the order of the High Court of Delhi regarding the maintainability of a reference filed by Zenith Infotech Limited before the Board for Industrial and Financial Reconstruction (BIFR) under Section 15 of the Sick Industrial Companies Act (SICA). The reference was initially rejected by the Registrar of the Board, a decision upheld by the Secretary and Chairman of the Board. Meanwhile, a winding-up petition against Zenith Infotech was admitted by the High Court of Bombay, leading to a conflict between the proceedings under SICA and the winding-up process. The High Court of Delhi held that the Registrar lacked the power to adjudicate whether a company is an industrial company, and the reference was still pending. The Supreme Court
…Bank of New York Mellon, London Branch, is the appellant. Zenith Infotech Limited is the respondent. Zenith Infotech Limited filed a reference with the Board for Industrial and Financial Reconstruction (BIFR) under Section 15 of the Sick Industrial Companies Act (SICA). The Registrar of the BIFR rejected the reference on August 12, 2013, stating that Zenith Infotech was not an industrial company under Section 3(e) and 3(f) of SICA. Zenith Infotech appealed to the Secretary of the Board, which was dismissed on September 13, 2013. A further appeal to the Chairman of the Board was also dismissed. On July 30, 2013, a winding-up petition against Zenith Infotech was admitted by the High Court of Bombay. The order of admission was affirmed by the Division Bench in appeal. The
…Zenith Infotech Ltd. filed a Reference before…
The Board rejected the reference on the ground…