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Secretary and Chairman of the BIFR don't have power to refuse reference application under SICA: SC

March 15, 2017[2017] 78 taxmann.com 254 (SC)/[2017] 137 CLA 71 (SC)/[2017] 140 SCL 333 (SC)/[2017] 2 COMP. LJ 6 (SC)/[2017] 201 COMP CASE 280 (SC)
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SICA: When Board for Industrial and Financial Reconstruction Regulations, 1987 framed under statute vests in Registrar or Secretary of Board power to 'scrutinize' an application prior to registration thereof and thereafter to register and place same before Bench, such power of scrutiny cannot be understood to be vesting in any of said authorities power to adjudicate question as to whether a company is an industrial company within meaning of section 3(e), read with section 3(f) and 3(n)

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