"I wasn't unruffled by the sensex crash, I always look unruffled! That’s how a sexy man dresses."
- Rakesh Jhunjhunwala
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The Sick Inndustrial Companies Act is a complete code and during the pendency of a reference, an industrial company cannot apply to the High Court for sanctioning a scheme under ss. 391 to 394 of the Companies Act. The principles to deal with conflicts between two statutes is discussed in detail.
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