ARUN CHOUDHURY Vs. STATE OF JHARKHAND

JUDGEMENT

(1.) HEARD the parties at length on the merits of the claims and contentions of the interveners in I.A. No. 896 of 2007.

(2.) HEAVY Engineering Corporation (HEC for short) was established by the first leaders of the country with an object that it will be of great help in the development of the Nation. As it happens usually with the Public/Government Sector undertakings, it became sick. On the recommendation of the Board for Industrial & Financial Reconstruction (BIFR), the present winding up proceeding (Company Petition No. 5 of 2004) was started. Writ Petition (Civil) No. 4513 of 2004 was filed by HEC against the order of BIFR.

(3.) FOR the purpose of revival, the Central Government and the State Government have approved revival packages, which are being acted upon by the parties.