2001 (12) TMI 811

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....ection 20(1) of the Sick Industrial Company (Special Provisions) Act, 1985, received from the Board for Industrial and Financial Reconstruction (BIFR) vide letter of its Registrar dated 27-9-2000 in case No. 302/87B(II) received by the Court on 9-10-2000. 2. The opinion dated 24-8-2000 appended to the letter records the conclusion of the Bench in paragraph-15 of the order that despite of sancti....

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....ompany and the UPFC neither acknowledgement due nor undelivered cover had been returned back. In respect of PICUP Sri Anurag Khanna has filed appearance, under rules of the Court, the service is deemed sufficient on the company as well as UPFC. 4. Since there is no objection or any proposal received from any person, the Court has no reason to differ from the opinion sent by the BIFR and that is....

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....nt of the company and to prepare inventories. On the conclusion of sale, the sale proceed (less deductions mentioned in the guidelines) was to be deposited with the concerned High Court for distribution amongst the various parties as per the provisions of section 529A of the Companies Act. The Bench had priced Rs. 10 lakhs as Assessing Officer's been and the dues up to Rs. 5 lakhs were considered ....