TMI Blog2007 (9) TMI 137X X X X Extracts X X X X X X X X Extracts X X X X ..... ified, pre-deposit waived & recovery is stayed - E/1953/2005 - Misc. Order No. M/1175/2007-WZB/C-I/(EB) - Dated:- 10-9-2007 - [Order per : Jyoti Balasundaram, Vice-President]. - In this case by the stay order No. S/174-177/WZB/2005/C-III dated 22-8-2005 pre-deposit of Rs. 1.40 crores towards the duty confirmed against M/s. Sagarika was directed. The amount was to be deposited by 30-9-2005 and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is under BIFR. According to the assessee, its application dated NIL September, 2005, being Modification Application No..../2005 is pending even today before the Tribunal. In the circumstances, we direct the Tribunal to decide the Modification Application No …./2005. We also want the Tribunal to record its findings regarding the net worth of the company. If the net worth of the company is found to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d has also suffered cash losses in such financial year and the financial year immediately preceding such financial year. The applicant company has been declared as 'sick unit' by the BIFR's order dated 21-9-2006. Further, the applicants placed on record certificate dated 21-8- 2007 of the Chartered Accountant showing that the net worth of the company is in negative. 3. In view of the above, we ..... X X X X Extracts X X X X X X X X Extracts X X X X
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