Modi Industries Ltd vs State Of U.P & Ors

The Supreme Court set aside the High Court's order in light of the BIFR's decision on 26.3.2008, which allowed the recovery of outstanding dues by the Commercial Tax Department, Government of Uttar Pradesh, post the cut-off date of 30.6.2007. The Court emphasized that the merits of the case were not addressed, leaving the parties free to pursue available legal remedies. The decision underscores the importance of adhering to rehabilitation scheme guidelines as per the BIFR's directives.