M/S.PATHEJA BROS.FORGINGS&STAMPING &ANR vs I.C.I.C.I. LTD.

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 pertains primarily to the industrial company itself. The Court distinguished the case from Madalsa International Ltd. v. Central Bank of India, where it was held that Section 22 does not apply to guarantors, thereby affirming the lower court's decision to maintain the ad interim relief against the guarantors' properties.