AMBALAL SARABHAI ENTERPRISES LIMITED Vs. PRAKASH CHANDRA ARYA

JUDGEMENT

(1.) Leave granted.

(2.) This appeal by special leave arises from the order of the division bench of the Calcutta High court, made on 29/11/1996 in GA No. 3616 of 1996. We decline to go into the merits of the matter. Suffice it to state that pending appeal, the division bench had declined to interfere with the order of the learned Single Judge appointing a Receiver. When the matter was mentioned in the Chief court for early hearing, this court passed an order on 4/12/1996 thus:

(3.) Parties have filed their respective affidavits and counter-affidavits. The Receiver also was served but has not filed the affidavit. In the affidavit filed on behalf of the appellants, they pointed out certain changes in the circumstances on the basis of which Shri Dipankar Gupta, learned Senior Counsel, sought to contend that there is a Memo of Understanding before the BIFR in which one O. P. Mall and Associates undertook to revive the sick industry of the defendant-tenant. If the said agency is permitted to revive the sick industry to work under the direction and control of the Receiver, it may not cause any impediment to the interest of the respondent-landlord. The said stand was disputed by the learned counsel appearing for the respondent. " In that view of the matter, we think that it may not be desirable at this stage to go into the question. It would be open to the parties to place the entire material before the division bench which would go into the matter on merits and decide according to law.