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2001 (9) TMI 994 - SC - Companies LawPreparation and sanction of Scheme - difficulties in implementing the scheme before the BIFR - Held that:- Appeal dismissed. It is only after due deliberation and after considering the financial and administrative implications that the previous orders of the Government had been passed leading to a scheme framed by the BIFR, has not been duly appreciated in the proper perspective by the Government. Hence, challenge to the order of BIFR made on 12-5-1999, is unsustainable. In that view of the matter, if the Government was merely guided by the reports of the bureaucracy and not on the ground realities and thereafter, the Ordinance has been promulgated under a misconception thinking that it would be applicable to the present employees, we think, the attempt of the Government has misfired.
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