TMI Blog2009 (6) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... it passed by the Tribunal dated 3-4-2009 [2009 (238) E.L.T. 78 (Tri.-Mum.)] By that order they have been directed to deposit 50% of the sum of Rs. 10,56,90,738/-. Petitioners are aggrieved by the said order. 3. On behalf of the petitioners, the learned counsel contends that even after the Tribunal had arrived at the findings that there are arguable points it has still been held that no prima fac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... econstruction and Ors. in WP (C) No. 7272 of 2007 of Delhi High Court pronounced on January 18, 2008, it is submitted that the assets of the company have been sold and substantial money has been realised. 5. We have heard the learned counsel for the Parties. Once the Tribunal held that there are issues to be considered, that would mean that there is a prima facie case. Prima facie case is not fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... BIFR by its order of 20th November, 2008 and 7th January, 2009 has held that in view of the completion of proceedings of sale under the SARFAESI Act, 2002, the Board has lost its jurisdiction over the company's case. The learned counsel for the petitioners/appellants submits that the matter is in appeal. Atleast as of today the order of 7-1-2009 stands. Assets of one of the units have also been s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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