CONTINENTAL CARBON INDIA LTD Vs. MODI RUBBER LTD

JUDGEMENT

(1.) In this writ petition the only issue which arises for our consideration concerns the meaning of the expression "within 45 days from the date on which a copy of the order is issued to him." This expression is used in Section 25(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 (hereinafter referred to as 'SICA') which, inter alia, prescribes the period of limitation for filing an appeal before the Appellate Authority for Industrial and Financial Reconstruction (hereinafter referred to as the "AAIFR") from an order passed by the Board for Industrial and Financial Reconstruction (hereinafter referred to as the "BIFR").

(2.) The present petition is directed against the AAIFR's order dated 14.01.2009, whereby the petitioner's appeal against the order dated 24.04.2008 passed by the BIFR has been dismissed solely on the ground of limitation.

(3.) Sometime in March, 2008, the petitioner, an unsecured creditor of Modi Rubber Limited, came to know of the Draft Rehabilitation Scheme with regard to the said company. The petitioner was also aware that the Draft Rehabilitation Scheme would be taken up for consideration by the BIFR on 08.04.2008. Consequently, the petitioner obtained a copy of the said scheme from another creditor. On 17.03.2008, the petitioner filed its objections to the Draft Rehabilitation Scheme. On 08.04.2008 when the BIFR considered the Draft Rehabilitation Scheme, the petitioner was not represented at the hearing, although his objections were on record. The BIFR passed an order sanctioning the Draft Rehabilitation Scheme under Section 19 (3) and 19(4) of SICA for implementation by all concerned. However, it is pertinent to mention that the said order, whereby the scheme was sanctioned, was issued only to the parties as per the list indicated in the forwarding letter dated 24.04.2008. The petitioner was not mentioned in the said list. In other words, a copy of the order which recorded the proceedings of 08.04.2008 sanctioning the scheme, was not sent to the petitioner.