RAM KISHAN Vs. STATE OF U. P.

JUDGEMENT

(1.) Heard Dr. L.P. Misra, learned counsel for the petitioners and Sri Pankaj Khare, learned Standing Counsel for the State- respondent.

(2.) By means of the present writ petition, the petitioners have prayed as under :-

(3.) Facts in nutshell are that Uptron India Limited was established as a subsidiary company of U.P. Electronics Corporation which is directly controlled by the department of I.T. and Electronics, Government of U.P. It was engaged in the designing and manufacturing of electronics goods and up to the year 1991, the company was running into profit but all of a sudden, it received financial loss and on 20/6/1994, it was declared as a sick unit and referred to BIFR.