Chhattisgarh Court October 2004 Judgments
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Annapurna Malleables Pvt. Ltd. and anr. Vs. State of Chhattisgarh and ...
Court: Chhattisgarh
Decided on: Oct-05-2004
Reported in: [2005]142STC329(NULL)
ORDERL.C. Bhadoo, J.1. By this writ petition under Articles 226 and 227 of the Constitution of India, the petitioners seek the quashment of recovery notices dated August 27, 2004 (annexure P6), also twelve notices (annexure P7) and notice of attachment (annexure P5).2. Brief facts leading to filing of this writ petition are that petitioner No. 1 is a company registered under the provisions of the Companies Act, 1956 and petitioner No. 2 is the managing director of petitioner No. 1-company. The company is situated at Raipur and engaged in the business of manufacture of iron casting. As the petitioner-company suffered heavy losses, therefore, it approached the Board for Industrial Finance and Reconstruction (BIFR), established under the provisions of the Sick Industrial Companies (Special Provisions) Act, 1985 (SICA), and was declared as sick industry vide order dated June 10, 1991. The BIFR sanctioned a rehabilitation package vide order dated September 27, 1996 (annexure P1) in exercise...
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