DAKSHIN GUJARAT VIJ COMPANY LTD. Vs. AMARDEEP ASSOCIATION

JUDGEMENT

(1.) In the present case, the scheme framed by BIFR failed to revive the sick unit and also failed to satisfy the said unit's creditors. Appellant is one of the creditor. Nice questions of applicability of scheme on the handy plea of natural justice and usual question of principle of statutory construction do not solve the problem. Appellant's dues are locked since so many years and respondent - auction purchaser of the said unit is inter-alia praying for electricity connection. Going through the record gives impression that hotly debated issues before the Court alleviate the problems of the parties only partly. Where lay the solution? Leaving that for the parties to search for the answer, case presented by learned advocates for the parties is considered.

(2.) Facts are, thus;

(3.) Heard learned Senior Advocate Mr.Shalin Mehta with learned advocate Ms.Lilu K. Bhaya for the appellant, learned Senior Advocate Mr.S.I.Nanavati with learned advocate Mrs.Sangeeta Pahwa for respondent No.1 and learned AGP Mr.R.A.Rindani for respondent Nos.2 and 3.