2012 (6) TMI 609

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s settled law that unless the first appellate authority records some findings on the merits of the case, Tribunal should not venture into the merits of the case - as appellant company has filed an application for being declared as a sick unit, pre-deposit of any amount would create undue hardship to the appellants - appeals are remanded back to the first appellate authority, to reconsider the issu .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he penalties imposed ordered in the order-in-original. 3. Heard both sides and perused the records. 4. Shri M.P. Tekriwal, Managing Director of the company appeared on behalf of the appellant company as well as Shri R. Maskara, the Director. He would draw my attention to the application filed by them with the Secretary, Board for Industrial Financial Reconstruction, New Delhi for declari .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he first appellate authority records some findings on the merits of the case, Tribunal should not venture into the merits of the case. In view of the above, I find that the appellants need to be heard by the first appellate authority on merits. Having regard to the fact that the appellant company has filed an application for being declared as a sick unit, pre-deposit of any amount would create und .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X