2000 (12) TMI 335

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.... D.K. Mehta, SDR, for the Respondent. [Order per : Justice K. Sreedharan, President]. - Along with the appeal application E/S/1791/99-D was filed praying for waiver of pre-deposit of the amount convered by the order impugned in the appeal. That application was disposed of by Order No. S/21/2000-D, dated 12-6-2000 observing that :- "In the light of the discussion made above, the stay appli....

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....ave heard the learned Counsel representing the petitioner and the learned Departmental Representative. Learned Counsel representing the appellant brought to our notice paragraph (iii) of the Stay Petition filed before this Tribunal on 24-12-1999. For a proper understanding of the contention raised by the petitioner on the financial position of the Company we read that paragraph :- "On financial....

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....ted 30-9-1998. 4. The financial position of the company as found from the 58th Annual Report has only to be accepted for the disposal of this Stay application. As per that statement the company is in heavy loss to the tune of more than Rs. 15 crores. Apart that, the company got itself registered as a Sick Unit under BIFR is not under challenge either. In these situations if the appellant i....