SHERVANI SUGAR SYNDICATE LTD. Vs. APPELLATE AUTHORITY FOR INDUSTRIAL AND FINANCIAL RECON­STRUCTIONS, NEW DELHI AND OTHERS

JUDGEMENT

(1.) A perusal of the averments made in paragraphs 58, 59 and 60 of the present Writ Petition shows that the petitioner had filed an Appeal before the Appellate Authority for Industrial and Financial Reconstruction, New Delhi against the order dated 22.9.2003 passed by the Board for Industrial and Financial Reconstruction, but the said Appellate Authority was not functioning at the relevant time. In the circumstances, the petitioner-Company filed the present Writ Petition seeking the reliefs men­tioned in the said writ petition.

(2.) HAVING considered the facts and circumstances of the case and the sub­missions made by Shri Naveen Sinha, learned Senior Counsel assisted by Shri Arun Singh, learned Counsel for the petitioner-Company, and also having re­gard to the averments made in paragraph 60 of the writ petition, this Court passed an interim order dated 20.2.2004, inter alia, directing that the operation of the said order dated 22.9.2003 passed by the Board for Industrial and Financial Reconstruction would remain stayed till 30.9.2004 or till the consid­eration of the stay application by the said Appellate Authority, whichever was earlier. It was, inter alia, further directed by the said interim order dated 20.2.2004 that during the aforesaid period, the petitioner-Company would not transfer any of its immovable properties.

(3.) SHRI Naveen Sinha, learned Senior Counsel states that in view of the said developments, the petitioner-Company does not want to press the present writ petition, and the same may be dismissed as not pressed.