O P GOYAL Vs. IFCI LTD

JUDGEMENT

(1.) O.A. No. 390/2000 filed by the 1st respondent-IFCI Ltd. against the 2nd respondent-Haryana Steel and Alloys Ltd., appellant-O.P. Goyal and others is pending before Debts Recovery Tribunal-I, Delhi (herein referred as "DRT"). Appellant-O.P. Goyal filed a Miscellaneous Application for stay of further proceedings on the ground that a reference under Section 15(a) of the Sick Industrial Companies (Special Provisions) Act, 1985 is pending. But the said application was opposed by the 1st respondent herein on the ground that the BIFR has on 11.5.2000 permitted the legal proceedings to be taken. The said application for stay was dismissed by the learned Presiding Officer of the DRT on 13.9.2001. The appellant filed Miscellaneous Appeal No. 202/2001 before this Tribunal against the said order and had also filed the orders dated 11.5.2000, 7.7.2000, 1.9.2000 and 15.11.2000 passed by the BIFR. By relying on these documents, the appellant contended that there was no permission in favour of the 1 st respondent to file the O.A. against them. This Tribunal disposed of the said Miscellaneous Appeal with a direction to the appellant to move an application for review inasmuch as the documents filed in the appeal were not before the DRT.

(2.) Accordingly, the appellant moved an application for Review of the earlier order of dismissal of the application for stay, and for grant of stay. This application has also been dismissed by the learned Presiding Officer of the DRT by his order dated 16.1.2002. That is why the appellant has preferred this appeal. This 1st respondent has filed a reply opposing this appeal.

(3.) THE learned Counsel for the appellant referred to the order dated 11.5.2000 and contended that there was no specific permission given by the BIFR to the 1st respondent herein to initiate proceedings against the appellant or the 2rd respondent and others. In particular he referred to the following portion of the order :