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The case examines the interplay between the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA) and the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
...(SARFAESI Act), where the appellant company, deemed sick under SICA and recommended for winding up by the BIFR post-rehabilitation failures, faced creditor actions under SARFAESI, prompting a legal contention over the suspension of SICA proceedings and the precedence of the two statutes.
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