2002 (2) TMI 1236

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....opinion of Board for Industrial and Financial Reconstruction under section 20(1) of the Sick Industrial Companies (Special Provisions) Act, 1985 recorded on 13-11-2001 to wind up the company. The opinion was forwarded on 29-11-2001 and was received by the Court on 13-12-2001. 2. On 21-1-2002, the notices were ordered to be issued to the respondent-company and Bank of Baroda to show cause as to ....

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....y submitted a compromise offer of Rs. 70 lakhs to Bank of Baroda without any revival scheme. In the circumstances, the Board formed a prima facie opinion to wind up the company and directed for issue of a show-cause notice calling for objections/suggestions from interested parties in this regard. On the next date fixed, the Bank of Baroda informed that there has been no progress and there is no sc....