2000 (8) TMI 1003

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....or further period of one year or until the proceedings initiated by the petitioner-company before the BIFR by application dated 22-6-1998 are concluded. 2. The petitioner-company on 22-6-1998 made a reference to the BIFR under section 15 of the SICA. The BIFR, by its order dated 6-8-1998, declared the petitioner-company a sick industrial company and directed for taking further measures under the provisions of the SICA for its reconstruction. The respondent No. 2 went in appeal against the said order before the AAIFR. The appellate authority vide its order dated 26-9-1999/1-7-1999 set aside the aforesaid order of the BIFR. Against this order of the AAIFR, the petitioner has filed a writ petition (Writ Petition No. 903 of 1999) before this c....

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....who has filed a suit in the High Court of Bombay for recovery of the lease property and the lease rent against the petitioner. The Bombay High Court has already passed order for appointing receiver of the suit property. 5. Any declaration under sub-section (3) of section 22 [of the SICA] has to be made by the BIFR. Obviously, any such declaration made can be extended by the Board itself. This court does exercise superintendence over the BIFR and can, therefore, make necessary orders in exercise of its jurisdiction under article 226/227 of the Constitution. But the occasion for making such order would arise only when some order/declaration is first made by the BIFR. I am afraid, this court cannot assume original jurisdiction of the Board an....