VALLABH GLASS WORKS LTD Vs. CEGAT

JUDGEMENT

(1.) Orders passed by the Tribunal dated 7th February 1991 and 13th August, 1991 respectively are in challenge before us. The substantial contention urged relates to impermissibility of the recovery proceedings as prescribed under Section 22(1) of the Sick Industrial Companies (Special Provision) Act, 1985. Section 22(1) is extracted below :

(2.) Now, it is perfectly open to the petitioners to deposit the amount with a view to sustain the appeal in terms of the order. There is no prohibition for finding the necessary funds for the deposit or otherwise mobilising the same. The short point is that in the matter which is being dealt with by the Tribunal, there is no element of recovery whatever. If that be the position, the substantial contention must fail. That apart, we do not think that the Tribunal's orders suffer from non-appreciation of the relevant factors or misapplication of the relevant provisions of the law.

(3.) The writ petition is, therefore, dismissed.