- (1.) HEARD learned counsel for the parties.
(2.) THE appellant is aggrieved against the order dated 29th June, 2012 passed in Company Petition No. 5 of 1999, wherein it has been observed that the appellant, namely, M/s. Anjaney Ferro Alloys Limited has no locus standi before BIFR and AAIFR and directed the BIFR to proceed to comply the order of the Honble Supreme Court. Learned counsel for the appellant submitted that the appellant was bidder in auction for the properties of the Company in liquidation i.e., M/s. Raj Hans Steel Ltd. in the sale proceedings commenced due to the winding up order dated 2nd September, 2003. The appellant was a party before this Court in the Company petition at various stages as well as it was impleaded as party before the Hon'ble Supreme Court in SLP No. 27210 of 2010 which was decided by the Hon'ble Supreme Court on 4th October. 2010. wherein the Hon'ble Supreme Court after hearing the parties remitted the matter to the BIFR and BIFR was directed to decide as to whether the creditors of the Company have been paid off and if so whether the rehabilitation package proposed by the Company is viable. The BIFR was further directed to consider and decide the matter expeditiously as far as possible and preferably within three months from the date of the order i.e., from 4th October, 2010.
(3.) BEFORE the BIFR, the present appellant claimed that he has a right to hearing, upon which the BIFR held that the present appellant can be heard. Against the order of the BIFR the Director of the Company in liquidation preferred appeal before the AAIFR which was pending consideration. Meanwhile BIFR .also passed some orders, which were challenged by the present appellant before the AAIFR. In both the appeals, hearing was completed and judgment was kept reserved. However, before judgment could have been pronounced. one of the Member demitted the Office and in Company Petition No.5 of 1999, on 29th June, 2012 the matter was taken up by the Company Judge for other purpose and without challenge to any order of BIFR, it was pointed out to the Company Judge that the present appellant -M/s. Anjaney Ferro Alloys Limited is delaying the proceedings before the BIFR, upon which the learned single Judge made the above observation that the present appellant has no locus standi before the BIFR and AAIFR. Before this order dated 29th June, 201.2 passed by the learned Company Judge admittedly the BIFR already held that the present appellant can be heard by the BIFR and against that order Ex -Director of the Company in liquidation preferred appeal, which is pending before the AAIFR.;