After making submissions to some extent on merits of the claim and the petition, Mr. Godiawala, learned advocate for the petitioner, upon being confronted with the details mentioned by the respondent company in its affidavit with regard to the proceedings pending before the Board of Industrial & Financial Reconstruct ["BIFR" for short] under the provisions of Sick Industrial Companies (Special Provisions) Act, 1985 ["SICA" for short], in particular the details mentioned in para 3.1 at page 31 to 33 of its reply affidavit dated 14.2.2011, has submitted that in view of the provisions contained under Section 22 of the SICA, the petitioner does not press the petition, at this stage, with a view to taking out appropriate proceedings at appropriate stage and time, after the bar imposed by virtue of Section 22 gets over and/or after other and further details with regard to the proceedings before the BIFR becomes available to the petitioner or if any development before the BIFR takes place and constrains imposed by virtue of Section 22 of the Act cease to operate.
In view of the said submissions made by Mr. Godiawala, learned advocate for the petitioner, present petition is disposed of, at this stage, in view of the fact that the respondent company has taken a plea that proceedings before the BIFR and the scheme framed by the BIFR are still in implementation / operation.
The petition stands disposed of. Notice is discharged.
(K.M.Thaker, J.) kdc Top