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Challenge to BIFR order allowing SBI to proceed with recovery based on consent decree. Analysis: The petitioner, a sick industrial unit under the Sick Industrial Companies (Special Provisions) Act, 1985, had its reference considered by BIFR, which declared it as such. IFCI was appointed as the Operating Agency to assess viability and formulate a revival scheme. Despite delays and lack of cooperation from the company, BIFR noted the company's failure to show seriousness in revival efforts. SBI sought permission to execute a consent decree for recovery, citing non-cooperation and delays by the company. BIFR allowed SBI to proceed with recovery, which was affirmed by AAIFR. The petitioner argued that SBI's actions would hinder revival efforts, but AAIFR upheld BIFR's decision, emphasizing the need to prevent parties from evading commitments. The petitioner's plea for time to make a payment was rejected by the court, highlighting the lack of seriousness in fulfilling conditions. The court referred to Section 22(1) of the Act, emphasizing that protection under this section should not be misused to avoid payments. The court cited relevant legal precedents to support the discretionary power of BIFR and AAIFR in allowing recovery proceedings in specific cases. The terms of the consent decree, which the company failed to meet, were outlined, indicating the petitioner's non-compliance with payment commitments. BIFR and AAIFR concluded that the company and its promoters lacked seriousness and were using legal protections to delay rehabilitation efforts. The court clarified the limited scope of interference under Articles 226 and 227 of the Constitution, emphasizing that such powers should correct errors of jurisdiction or law, not factual findings. The court listed specific grounds for exercising power under Article 227, none of which applied to the present case. Finding no legal basis to challenge BIFR and AAIFR's orders, the court dismissed the petition, upholding the decision to allow SBI to proceed with recovery based on the consent decree.
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