- (1.) BEFORE directing the sale of the movable assets and machinery of Respondents 4 to 8 companies which are placed under attachment by virtue of this Court's order dated 13 -2 -1996 in W. P. (C.) No. 967 of 1989, etc. and finalising the modalities of sale, it is desirable to put on notice the financial institutions/banks who, as secured creditors have instituted proceedings against the companies for recovery before the Debt Recovery Tribunal of Bombay and Jaipur.
(2.) HENCE , notice returnable in four weeks be issued to the following parties: 1. 1FC1 Ltd., having its registered office at IFCI Tower, 76, Nehru Place, New Delhi. 2. Industrial Development Bank of India, having its head office at IDBI Tower, Cuffe Parade, Mumbai. 3. ICIC1 Ltd., having its registered office at 163, Backbay Reclamation, Mumbai 400 020. 4. Central Bank of India, Zonal Office, Link House, 4, Bahadur Shah Zafar Marg, New Delhi 110 002. The Rajasthan State Government viz. the Department of Environment and the Finance Department shall also submit a report to the Court by the next date of hearing, regarding the steps contemplated to be taken by them in a phased manner for repairing the damage caused by the polluting industries of Respondents 4 to 8. in the interests of the rural population affected by the pollution. The State Government should come forward with definite proposals for allocation of certain amount for taking up immediate remedial measures.
(3.) APPROPRIATE directions in regard to the sale of properties and recovery of the amount from Respondents 4 to 8 companies and their Managing Directors/Directors will be considered after hearing further arguments. We may note that the counsel for Respondents 4 to 8 companies, while expressing that they have no objection for sale of the properties of the companies, maintained that the Managing Directors/Directors are not personally liable and they are not prepared to or are not in a position to deposit any amount. Suffice it to state that this aspect requires further consideration.;