9911796707
TMI Blog1998 (7) TMI 511X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 82 of 1998 has been filed by Bansal Trading Company with a prayer that Chhattar Industries Limited be ordered to be wound up as it is unable to pay its debt and even otherwise in the facts and circumstances of the case, it is equitable that the respondent-company should be wound up. In view of the circumstances stated hereinafter, it would not be necessary to go into the details giving rise to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orwarded its recommendation to this court. Under the provisions of section 20 of the Sick Industrial Companies (Special Provisions) Act, 1985, the recommendations of the Board for Industrial and Financial Reconstruction (hereinafter referred to as "the Board") are normally to be accepted by the court as it is a specialised body and a company would have to be wound up in accordance with the provi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to this court and as contained in the final order dated February 13, 1998, were made in the presence of the representative of the respondent-company and they were heard in response to the notice of winding up by the Board. In any case they must and ought to be aware about the proceedings arising therefrom. In the aforestated circumstances, Company Petition No. 145 of 1998, is allowed accepting ..... X X X X Extracts X X X X X X X X Extracts X X X X
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