INDORE WIRE CO LTD Vs. UNION OF INDIA

JUDGEMENT

(1.) BY filing this writ under Article 226/227 of the Constitution of India, the petitioner seeks to challenge the order, dated 28-5-2003 (Annexure P-4), passed by BIFR in case No. 207 of 2001. According to petitioner they have filed an appeal against the impugned order before A. A. I. F. R. but since the appellate authority has not yet been reconstituted and hence, this writ.

(2.) IT is not necessary for this Court to burden this judgment by taking note of entire factual aspect of the case. It is for the reason that this court is not exercising the powers of the original authority under the Act (SICA) nor is acting as an appellate authority. In other words, this Court has to examine the issue keeping in view the jurisdictional constraints put on the writ court while hearing the writ petitions in such cases.

(3.) PETITIONER is a limited company engaged in the business of manufacture and sale of certain special type of steel items. It is not in dispute that the petitioner has suffered huge financial losses and approached to BIFR under Section 15 of SICA for claiming a status of a Sick Industrial Company within the meaning of SICA. It is in these proceedings, the BIFR had appointed O. A. (operating agency) and then proceeded to pass the impugned order after taking into consideration all facts and circumstances of the case. This is what the BIFR directed:-