2006 (3) TMI 152

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....ed advocate Shri A.L. Shah for the petitioner and learned Asst. Solicitor General Shri Jitendra Malkan for the respondents. 3.Looking to the facts of the case and upon hearing the learned advocates, in our opinion, interim relief is required to be granted to the petitioner at this stage. Shri Malkan, learned Asst. Solicitor General, has submitted that in view of the judgment of the Hon'ble Supr....

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....d payable in respect of the obligation with which the machinery has been purchased by the petitioner under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. After purchase of the machinery in question, the petitioner has undertaken to fulfill the obligation with regard to export of yarn, which was to be manufactured with hel....

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....estrained from taking possession of the machinery in question and it would be open to the petitioner to commence manufacturing activity and export the goods which might be manufactured against the export obligation, which M/s. Tai Chonbang Textile Industries Ltd. had undertaken. So as to secure interest of the government, we also direct the petitioner to deposit Rs. 25 lakhs with this court. The s....