GRAM PANCHAYAT Vs. VALLABH GLASS WORKS LIMITED
LAWS(SC)-1990-3-46
SUPREME COURT OF INDIA (FROM: BOMBAY)
Decided on March 15,1990

GRAM PANCHAYAT Appellant
VERSUS
VALLABH GLASS WORKS LIMITED Respondents


Cited Judgements :-

SUBHASH KUMAR BHUWALKA VS. APPELLATE AUTHORITY FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION INDUSTRIAL DEVELOPMENT BANK OF INDIA [LAWS(DLH)-1995-2-81] [DISTINGUISHED]
KRIMPEX SYNTHETICS LIMITED VS. UNION OF INDIA [LAWS(DLH)-1997-4-46] [REFERRED]
WESTON ELECTRONICS LIMITED VS. APPELLATE AUTHORITY FOR INDUSTRIAL AND FINANCE RECONSTRUCTION [LAWS(DLH)-2000-9-25] [REFERRED]
PREM LATA GUPTA VS. DUNLOP INDIA LIMITED [LAWS(DLH)-2003-1-9] [REFERRED TO]
MADURA COATS LIMITED VS. BANK OF INDIA [LAWS(DLH)-2003-4-70] [REFERRED]
COLLECTOR OF CENTRAL EXCISE VS. GTC INDUSTRIES LIMITED [LAWS(DLH)-2004-7-100] [REFERRED TO]
COLECTOR OF CENTRAL EXCISE VS. GTC INDUSTRIES LTD [LAWS(DLH)-2004-7-11] [RFERRED TO]
IFCI LIMITED VS. MODI INDUSTRIES LIMITED [LAWS(DLH)-2009-11-1] [REFERRED TO]
SATYADEV CHEMICALS PVT LTD VS. S DAVE and CO THRO PARTNERS RAMESHBHAI AND DHANANJAN [LAWS(GJH)-1998-12-69] [REFERRED TO]
GUJARAT STEEEL TUBE COMPANY LIMITED VS. VIRCHANDBHAI BHOGILAL SHAH [LAWS(GJH)-1999-8-58] [REFERRED TO]
CENTRAL BANK OF INDIA VS. COAST WEST FERRO ALLOYS [LAWS(GJH)-2008-10-22] [REFERRED TO]
DIGITAL MULTIFORMS LTD VS. KALYAN PAPER [LAWS(GJH)-2010-7-216] [REFERRED TO]
MODI INDUSTRIES LTD VS. ADDITIONAL LABOUR COMMISSIONER [LAWS(ALL)-1993-4-63] [REFERRED TO]
MODI SPG AND WAVG MILLS CO VS. HOUSING AND URBAN DEVELOPMENT CORPORATION LTD [LAWS(ALL)-1996-4-59] [REFERRED TO]
AMITABH TEXTILES MILLS LTD VS. U P STATE ELECTRICITY BOARD DEHRADUN [LAWS(ALL)-1997-7-110] [REFERRED TO]
POSYSHA INDUSTRIES CO LTD VS. COLLECTOR [LAWS(ALL)-1997-10-89] [REFERRED TO]
MODI INDUSTRIES LTD VS. NAGAR PALIKA MODINAGAR [LAWS(ALL)-1999-4-135] [REFERRED TO]
MODI SPINNING AND WEAVING MILLS COMPANY VS. NAGAR PALIKA MODINAGAR [LAWS(ALL)-1999-8-6] [REFERRED TO]
CLASSIC RUGS PVT LTD VS. ASSISTANT COMMISSIONER ASSESSMENT [LAWS(ALL)-2002-4-3] [REFERRED TO]
DEWAN SUGARS LTD VS. CENTRAL GOVT [LAWS(ALL)-2008-8-11] [REFERRED TO]
ANDHRA CEMENTS LTD VS. NAGARJUNA INVESTMENT TRUST LTD [LAWS(APH)-1993-4-81] [REFERRED TO]
ASIAN BEARINGS AND TOOLS CORPORATION VS. COASTAL CHEMICALS LIMITED [LAWS(APH)-1996-1-34] [REFERRED TO]
SARVARAYA TEXTILES LIMITED VS. COMMISSIONER EMPLOYEES PROVIDENT FUND COMMISSION HYDERABAD [LAWS(APH)-2001-8-131] [REFERRED TO]
NILE LTD VS. RENEWABLE ENERGY SYATEMS LTD [LAWS(APH)-2006-4-123] [REFERRED TO]
BHARAT HEAVY PLATE AND VESSELS LTD VS. ASSISTANT COMMISSIONER OF CENTRAL EXCISE DIVISION [LAWS(APH)-2006-6-156] [REFERRED TO]
POYSHA INDUSTRIAL COMPANY LIMITED VS. UNION OF INDIA [LAWS(CAL)-1994-8-29] [REFERRED TO]
ENGINEERING CONSTRUCTION SERVICES VS. MINING AND ALLIED MACHINERY CORPORATION LIMITED [LAWS(CAL)-1995-8-4] [REFERRED TO]
TATA CONSTRUCTION AND PROJECTS LTD VS. STEEL AUTHORITY OF INDIA LTD [LAWS(CAL)-1995-11-4] [REFERRED TO]
UNIVERSAL PAPER MILLS LIMITED VS. REGIONAL PROVIDENT FUND COMMISSIONER [LAWS(CAL)-2001-7-11] [REFERRED TO]
Kal Electronic and Consultancy P LTD VS. Hindustan Development Corporation Ltd [LAWS(CAL)-2002-9-24] [REFERRED TO]
DEPUTY COMMERCIAL TAX OFFICER VS. CORROMANDAL PHARMACEUTICALS [LAWS(SC)-1997-3-157] [DISTINGUISHED]
TATA DAVY LIMITED VS. STATE OF ORISSA [LAWS(SC)-1997-8-94] [FOLLOWED]
RAHEJA UNIVERSAL LIMITED VS. NRC LIMITED [LAWS(SC)-2012-2-64] [REFERRED TO]
CONSOLIDATED STEELS AND ALLOYS LIMITED VS. KAMLA LAKHANPAL [LAWS(DLH)-1998-9-124] [REFERRED]
MODERN DIES VS. SYMPHONY COMFPRTS SYSTEMS LTD [LAWS(DLH)-2005-10-62] [REFERRED TO]
SAKETH INDIA LIMITED VS. W DIAMOND INDIA LIMITED [LAWS(DLH)-2010-4-7] [REFERRED TO]
SYNDICATE BANK VS. MULLANGIE SPINTEX PVT LTD [LAWS(DLH)-2010-9-36] [REFERRED TO]
SUNIL MITTAL PROPERTIES OF M S SHREE SHYAM PACKAGING INDUSTRIES VS. LML LTD [LAWS(DLH)-2011-1-104] [REFERRED TO]
MCB PRIVATE LIMITED VS. SLM MANEKLAL LIMITED [LAWS(GJH)-1991-11-11] [REFERRED TO]
RAJNAGAR TEXTILE MILLS NO 1 AHMEDABAD VS. TEXTILE LABOUR ASSOCIATION AHMEDABAD [LAWS(GJH)-1998-2-7] [REFERRED TO]
CORE HEALTHCARE LIMITED VS. STATE OF GUJARAT [LAWS(GJH)-2004-3-28] [REFERRED TO]
PASCHIM PETROCHAM LTD VS. AUTHORISED OFFICER KOTAK MAHINDRA BANK LTD [LAWS(GJH)-2010-1-63] [REFERRED TO]
AMITABH TEXTILES MILLS LTD VS. U P STATE ELECTRICITY BOARD DEHRADUN [LAWS(ALL)-1997-8-100] [REFERRED TO]
AMRIT BANASPATI COMPANY LTD VS. COMMR APPEALS C EX [LAWS(ALL)-2000-1-174] [REFERRED TO]
ORISSA SPONGE IRON LTD VS. RISHABH ISPAAT LTD [LAWS(HPH)-1993-4-3] [RELIED ON]
ASSISTANT EXECUTIVE ENGINEER ELECTRICAL KEB VS. REYHAN MINERALS AND CHEMICALS PVT LIMITED [LAWS(KAR)-1991-11-35] [FOLLOWED ON]
RELIANCE ISPAT INDUSTRIES LTD VS. COMMISSIONER OF SALES TAX [LAWS(MPH)-1993-3-13] [REFERRED TO]
KESHRI STEELS VS. M P ELECTRICITY BOARD [LAWS(MPH)-1998-1-28] [REFERRED]
ALLWYN A UNIT OF VOLTAS LTD VS. DEPUTY LABOUR COMMISSIONER [LAWS(MPH)-1998-8-13] [REFERRED TO]
SYNTHETICS LTD VS. ASSISTANT COMMISSIONER [LAWS(MPH)-2000-2-37] [REFERRED TO]
INDL DEVT CORPN ORISSA LTD VS. R P F COMMR II [LAWS(ORI)-2001-10-28] [REFERRED TO]
GULABDAS NAMDEO VS. AMBUJA CEMENT EASTERN LTD [LAWS(MPH)-2003-4-85] [REFERRED TO]
NEPA LIMITED VS. SARDAR SANTOSH SINGH AJMANI [LAWS(MPH)-2004-4-55] [REFERRED TO]
JAY ENGINEERING WORKS LTD VS. INDUSTRY FACILITATION COUNCIL [LAWS(MPH)-2004-12-26] [REFERRED TO]
BENGAL IMMUNITY LIMITED VS. MUKUL KUMAR KAR [LAWS(CAL)-2003-7-28] [REFERRED TO]
CALCUTTA JUTE MFG CO LTD VS. STATE OF WEST BENGAL [LAWS(CAL)-2003-11-24] [REFERRED TO]
DODDABALLAPUR SPINING MILLS PVT LTD VS. REGIONAL PROVIDENT FUND COMMISSIONER KARNATAKA [LAWS(KAR)-2005-8-69] [REFERRED TO]
RABINDRA NATH BANERJEE VS. CERTIFICATE OFFICER [LAWS(CAL)-2004-12-41] [REFERRED TO]
ELECTREX INDIA LIMITED VS. USHA D ROHRA [LAWS(KAR)-2006-9-66] [REFERRED TO]
INDIAN STEEL AND WIRE PRODUCTS LTD VS. KOTHARI METAS LTD [LAWS(CAL)-2007-4-11] [REFERRED TO]
INDIAN STEEL AND WIRE PRODUCTS LIMITED VS. KOTHARI METALS LTD [LAWS(CAL)-2007-7-62] [REFERRED TO]
BPL ENGINEERING LTD VS. VNS INDUSTRIES PVT LTD [LAWS(KAR)-2010-3-95] [REFERRED TO]
XXTH CENTURY FINANCE AND CONSULTANCY SERVICES LIMITED VS. KHANNA RAYON INDUSTRIES LIMITED [LAWS(BOM)-1991-10-28] [REFERRED TO]
ESSORPE MILLS LTD VS. CENTRAL PROVIDENT FUND COMMR [LAWS(MAD)-2000-2-15] [REFERRED TO]
GEAR ENTERPRISES VS. MAFATLAL ENGINEERING INDUSTRIES LTD [LAWS(BOM)-1993-10-21] [REFERRED TO]
PUNALUR PAPER MILLS LIMITED VS. ASSISTANT COMMISSIONER OF INCOMETAX CIRCLE I [LAWS(KER)-2004-11-36] [REFERRED TO]
BABURAO P TAWADE VS. HES LIMITED [LAWS(BOM)-1995-4-1] [REFERRED TO]
CENTRAL BANK OF INDIA VS. MADALSA INTERNATIONAL LIMITED [LAWS(BOM)-1997-4-19] [REFERRED TO]
TATA FINANCE LIMITED VS. N R [LAWS(BOM)-1999-1-27] [REFERRED TO]
CHEMOX CHEMICAL INDUSTRIES LIMITED MUMBAI TATA FINANCE LIMITED VS. STATE OF MAHARASHTRA [LAWS(BOM)-1999-1-20] [REFERRED TO]
CHEMOX CHEMICAL INDUSTRIES LIMITED VS. TATA FINANCE LIMITED [LAWS(BOM)-1999-1-18] [REFERRED TO]
T VENKATESAN VS. DISTRICT COLLECTOR [LAWS(MAD)-2003-6-133] [REFERRED TO]
VENKATESAN T VS. DISTRICT COLLECTOR THIRUVALLUR [LAWS(MAD)-2003-6-45] [REFERRED TO]
RALLIWOLF LIMITED VS. REGIONAL PROVIDENT FUND COMMISSIONER [LAWS(BOM)-2000-9-4] [REFERRED TO]
CMM LIMITED VS. MUNICIPAL CORPN OF GREATER BOMBAY [LAWS(BOM)-2004-7-152] [REFERRED TO]
DUNLOP INDIA LIMITED AMBATTUR VS. TAHSILDAR AMBATTUR [LAWS(MAD)-2006-8-77] [REFERRED TO]
AKOLA OIL INDUSTRIES VS. STATE BANK OF INDIA [LAWS(BOM)-2005-5-41] [REFERRED TO]
GOWARI SPINNING MILLS P LTD VS. ASSISTANT PROVIDENT FUND COMMISSIONER SALEM [LAWS(MAD)-2006-10-25] [REFERRED TO]
ARTSON ENGINEERING LIMITED VS. MR DEENDAYAL ASHOK KUMAR GOIDANI PROPRIETOR OF ASHOK AGENCIES [LAWS(MAD)-2006-12-207] [REFERRED TO]
SOLIDAIRE INDIA LIMITED VS. S RAMAKRISHNAN [LAWS(MAD)-2009-12-24] [REFERRED TO]
RAMAYAN RAM VS. HEAVY ENGINEERING CORPORATION LTD [LAWS(PAT)-1996-5-54] [FOLLOWED ON]
MISHRILAL JAIN P LTD VS. NACRO CHEMICALS LTD [LAWS(PAT)-1997-12-32] [REFERRED TO]
FUSION ENGINEERING PRODUCTS LIMITED VS. STATE OF BIHAR [LAWS(PAT)-1998-8-66] [REFERRED TOMAHARASTRA TUBES]
PATLIPUTRA PRESTRESSED P LTD VS. STATE BANK OF INDIA [LAWS(PAT)-1999-4-89] [REFERRED TO]
CEMENT CORPN OF INDIA VS. P O CENTRAL GOVT IND TRIBUNAL [LAWS(P&H)-2001-10-20] [REFERRED TO]
S K G CONSOLIDATED LIMITED VS. STATE OF BIHAR [LAWS(PAT)-2000-3-10] [REFERRED TO]
UMI SPECIAL STEEL LIMITED VS. UNION OF INDIA [LAWS(PAT)-2000-9-86] [REFERRED TO]
D.K. CHEMICALS LTD VS. RANA MAHENDRA PAPERS LTD [LAWS(P&H)-2009-2-104] [REFERRED TO]
PRIMA INDUSTRIES LTD VS. DY. COMMISSIONER [LAWS(KER)-2006-8-110] [REFERRED TO]
IN RE: GONTERMANN-PIEPERS VS. STATE [LAWS(HPH)-2004-6-9] [REFERRED TO]
EZY SLIDE FASTNERS LTD. VS. JOINT COMMISSIONER OF INCOME-TAX [LAWS(GJH)-2004-2-79] [REFERRED TO]
B.V.V. PAPER INDUSTRIES LTD. VS. COMMERCIAL TAX OFFICER [LAWS(MAD)-2008-7-614] [REFERRED TO]
AKSHAYA TECHNOLOGIES PRIVATE LIMITED VS. DAMODAR VALLEY CORPORATION [LAWS(JHAR)-2005-8-55] [REFERRED TO]
Central Coal Fields Ltd. VS. State of Jharkhand [LAWS(JHAR)-2003-4-103] [REFERRED TO]
NIMA CHEMICAL PRIVATE LTD VS. SECRETARY NEPA LTD [LAWS(MPH)-2000-6-59] [REFERRED TO]
POLYMERMANN (ASIA) P. LTD. VS. THE UNION OF INDIA (UOI) AND ORS. [LAWS(BOM)-2005-3-199] [REFERRED TO]
METAL BOX INDIA LIMITED VS. UNION OF INDIA AND ORS. [LAWS(P&H)-2015-1-217] [REFERRED TO]
CIMMCO BIRLA LTD VS. ANIL SETHI [LAWS(DELCDRC)-2007-10-5] [REFERRED TO]
INDIAN DRUGS AND PHARMACEUTICALS LIMITED VS. ASHOK KUMAR AND ORS. [LAWS(P&H)-2014-11-158] [REFERRED TO]
R.A. POTNIS VS. NATIONAL TEXTILE CORPORATION (GUJARAT) LIMITED [LAWS(GJH)-2001-6-98] [REFERRED TO]
A.S. NIZAR AHMED & COMPANY LTD. VS. COLLECTOR OF VELLORE DISTRICT [LAWS(MAD)-2002-4-222] [REFERRED TO]
BENGAL IMMUNITY LTD. VS. TATA PHARMA LTD. [LAWS(CAL)-1999-4-81] [REFERRED TO]
PUNJAB NATIONAL BANK, MODINAGAR, GHAZIABAD VS. MODI RUBBER LIMITED, MODINAGAR, GHAZIABAD [LAWS(ALL)-1997-8-162] [REFERRED TO]
THE STATE OF RAJASTHAN AND ANOTHER VS. JAIPUR METALS AND ELECTRICALS MAZDOORS SANGH AND OTHERS [LAWS(RAJ)-2002-8-118] [REFERRED TO]
TERACOM LIMITED VS. ASST COMMISSIONER OF INCOME TAX [LAWS(BOM)-2016-2-259] [REFERRED]
BABURAO P TAWADE VS. HES LIMITED [LAWS(BOM)-1995-4-65] [REFERRED]
GOYAL MG GASES PVT LTD VS. SBQ STEELS LTD [LAWS(DLH)-2016-8-535] [REFERRED]
SARVARAYA TEXTILES LIMITED VS. COMMISSIONER, EMPLOYEES PROVIDENT FUND COMMISSION, HYDERABAD [LAWS(APH)-2001-11-194] [REFERRED]
A S ROTOTECH LIMITED VS. C T O, PARK STREET CHARGE [LAWS(CAL)-1998-4-50] [REFERRED]
M V DAMODARAN VS. REGISTRAR OF CO-OPERATIVE SOCIETIES [LAWS(MAD)-1998-6-139] [REFERRED]
BHANU IRON AND STEEL COMPANY LTD VS. SURAJ KANTA ELECTRONICS [LAWS(NCD)-2000-2-128] [REFERRED]
SIPANI AUTOMOBILES LTD VS. KAMNA LALL [LAWS(NCD)-2000-2-130] [REFERRED]
ELECTROTHERM (INDIA) LTD VS. UNION OF INDIA (DELETED ) [LAWS(GJH)-2017-8-175] [REFERRED TO]


JUDGEMENT

K. Jagannatha Shetty, J. - (1.)The petitioners seek leave to appeal against the decision of the Bombay High Court in Writ Petition No. 6108/87 quashing the proceedings for recovery of property tax and other expenses due from the first respondent company.
(2.)The matter arises in this way:For the purpose of prevention and revival of sick industries, the Central Government has enacted the Act called "The Sick Industrial Companies (Special Provisions) Act, 1985 ('The Act). The Act extends to the whole of India including the State of Jammu and Kashmir. It came into force (except Ss. 15 to 34) with effect from 15 May, 1987. The Act covers only sick industrial companies or industrial companies which have the potential to become sick. The Act empowers the Central Government to establish a Board to be known as the Board for Industrial and Financial Reconstruction to exercise the jurisdiction and powers, and discharge the functions and duties imposed under the Act.
(3.)The first respondent-company Messrs. Shree Vallabh Glass Works Ltd. has been declared to be a sick industrial company within the meaning of clause (o) of subsection (1) of S. 3 of the Act. 'Sick Industrial Company' means 'an industrial company being a company registered for not less than seven years which has at the end of any financial year accumulated losses equal to or exceeding its entire net worth and has also suffered cash losses in such financial year and the financial year immediately preceding such financial year'.
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