1994 (3) TMI 97

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.... 1 and 2. By consent, petition taken on board and called out for hearing. Heard Counsel. The petition challenges legality of order dated November 1, 1993 passed by Customs, Excise and Gold (Control) Appellate Tribunal directing that the petitioners shall furnish a Bank Guarantee of Rs. 1,00,000/- within a period of 8 weeks from the date of order failing which the appeal preferred by the petitione....

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....ny by the Board for Industrial and Financial Reconstruction. The learned counsel invited attention to the order dated February 26, 1991 passed by the Board and copy of which is annexed as Ex. `A' to the petition. In view of the fact that the petitioner Company has been declared as a Sick Industrial Company, it is not possible for the petitioners to furnish Bank guarantee and consequently, the clai....