M/S Patheja Bros. Forgings & Stamping & ... vs I.C.I.C.I. Ltd. & Ors.

The Supreme Court addressed the applicability of Section 22 of The Sick Industrial Companies (Special Provisions) Act, 1985, in relation to suits against guarantors of loans granted to industrial companies. The Court held that Section 22 does not bar suits against guarantors, as it specifically pertains to suits against the industrial company itself. The Court affirmed the lower court's decision to maintain the ad interim relief concerning the guarantors' properties, thereby allowing the suit to proceed against them without the need for consent from the Board or Appellate Authority under the Act.