CONTINENTAL CARBON INDIA LTD Vs. MODI RUBBER LTD

JUDGEMENT

(1.) The present writ petition raises the following question of law:

(2.) The scheme of rehabilitation of the respondent-Company was approved on 8.4.2008 under the SICA. The dues of the unsecured creditors was dealt with in para 5.1.3 of the sanctioned scheme. The unsecured creditors were identified as raw material suppliers, acceptances, dealers and C & F and inter-corporate deposits. The unsecured creditors could exercise one of the three options:

(3.) After incorporating the three options, the aspects of dues to raw material suppliers has been dealt with in the following words: