The said award of the Council was put in execution.
By reason of the said order, however, Industrial Development Bank of India IDBI was appointed as an operating agency.
1 herein in terms of the provisions of the Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 for short the 1993 Act .
It manufactures companyper wires.
A rehabilitation scheme was framed by the Board but it was declared to have failed by an order on 12.7.2001.
The Council, however, opined that only because the Appellant Company has been declared sick by the Board, it would number bind the Council to take a decision in the matter.
A writ petition was filed by the Appellant herein before the Madhya Pradesh High Court questioning the same which by reason of the impugned judgment has been dismissed by a learned Single Judge.
In the meanwhile, the Respondent No.
10,92,253.00 and one and half percent interest of PLR of State Bank of India is due to the Petitioner Messrs. Diamond Wire Industries, Ratlam, of the Respondent Messrs. Jay Engineering Works Limited, New Delhi.
It passed an award directing That upon the submissions made by both the parties in the above case and in the light of companytentions raised it is prayed that the delay of two years to four years was caused by the respondents for making the payment to the petitioner, which is enough.
2 herein filed a claim petition before the Industry Facilitation Council for short the Council Respondent No.
991 of 2005 B. SINHA, J Leave granted.
The bank account of the Appellant was attached by the District Court, Ratlam.
A fresh report was submitted by the said operating agency on 20th March, 2003 which was accepted by the Board whereupon a fresh rehabilitation scheme was sanctioned on 8.4.2003.
Therefore, Council has passed the order that an amount of Rs.
The Appellant Company was declared as sick unit by the Board for Industrial and Financial Construction for short the Board .
Before the Council, the Appellant herein raised a plea that it had been declared to be a sick companypany by the Board and as such the matter should number be proceeded further.
Respondent No.
It supplied its products to the Appellant herein during the period 28th December, 1996 and 3rd June, 2000.
As the Appellant Company became sick, its Board of Directors made a reference in terms of Section 15 of the Sick Industrial Companies Special Provisions Act, 1985 for short the 1985 Act on 8.4.1994.
909 of 2005 WITH CIVIL APPEAL NO.4127 OF 2006 Arising out of S.L.P. C No.
Arising out of S.L.P. C No.
2 is a small scale industry.
A Letters Patent Appeal preferred thereagainst was dismissed by the impugned judgment.
The Appellant herein is a public limited companypany engaged in business of manufacturing electronic fans and fuel injection equipments.
