In Brief
Zenith Infotech Limited filed a reference before the Board for Industrial and Financial Reconstruction under SICA, but the Registrar refused registration on the grounds that it was not an industrial company. This refusal was upheld in appeal by the Secretary and Chairman. The Supreme Court held that the Registrar, Secretary, and Chairman lack adjudicatory power to determine whether a company is industrial—this is a contentious matter requiring a Bench decision. Scrutiny for registration is merely ministerial. Therefore, the refusal orders were void. The Court deemed the reference pending on the Insolvency Code's commencement date (1.12.2016), allowing the company to pursue remedies under the Code."}
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