Pravin Gada & Anr vs Central Bank Of India & Ors

The Supreme Court upheld the decision of the Debt Recovery Appellate Tribunal (DRAT) which had restored the confirmation of sale of the assets of Jay Electric Wire Corporation Ltd. The Court emphasized the applicability of Section 10 of the Industrial Disputes Act, 1947, and the Sick Industrial Companies (Special Provisions) Act, 1985, in the context of winding up and recovery of dues owed to workers. The Court found that the High Court's order quashing the DRAT's decision was erroneous, thereby allowing the appeal and reinstating the sale confirmation.