MODI RUBBER LIMITED Vs. CONTINENTAL CARBON INDIA LTD

JUDGEMENT

(1.) As common question of law and facts arise in these group of appeals, they are being disposed of by this common judgment and order.

(2.) Feeling aggrieved and dissatisfied with the impugned judgment and order passed by the High Court of Delhi at New Delhi passed in Writ Petition (C) No. 4854 of 2011 by which the Division Bench of the High Court has allowed the said writ petition preferred by the respondent No. 1 herein - Continental Carbon India Ltd. (unsecured creditor) and has held that the original writ petitioner is an unsecured creditor and has the option not to accept the scaled down value of its dues and may wait till the scheme of rehabilitation of the appellant company [company before the BIFR under Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred to as "SICA")] has worked itself out with an option to recover its debt post such rehabilitation, the original respondent No. 1 - Modi Rubber Ltd. has preferred the present Civil Appeal No. 375 of 2017.

(3.) Following question of law arise in the present group of appeals:-