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2011 (2) TMI 1264 - HIGH COURT OF DELHIWrit petition - sick industrial companies - appeal before the AAIFR was in turn directed against the order dated 4-9-2006 passed by the Board for Industrial and Financial Reconstruction (BIFR) whereby the reference made by the Board of the petitioner company under section 15 of SICA was rejected as non-maintainable on the grounds that the company (petitioner) did not approach the BIFR with clean hands and had failed to avail the opportunities given by the Board to present its case. neither the BIFR nor the AAIFR have returned any finding as to whether the petitioner company is a sick industrial company or not BIFR did not return finding that petitioner – Held that:- matter is remanded to the BIFR for conducting an inquiry under section 16 of the SICA for the purpose of determining whether the petitioner company has become a sick industrial company or not and to proceed thereafter in accordance with law
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