M.Katju, J. - (1.) Heard learned counsel for the parties. This writ petition has been filed against the impugned recovery certificate dated 20.6.2002 (Annexure-1 to the petition) for Rs.47,52,683.55p.
(2.) Krishna Synthetics Ltd. is a limited liability company and the petitioners at the relevant time were its Directors and Guarantors of the loan. The Company has approached the Board of Industrial and Finance Reconstruction (BIFR) under the Sick Industrial Companies (Special Provisions) Act, 1985.
(3.) In paragraph 7 of the petition it is stated that the Board of Industrial and Finance Reconstruction had registered the reference of the petitioner, but rejected the reference vide order dated 3.9.2000 on the ground that the petitioner is a small scale industrial undertaking vide Annexure-2 to the petition.;