I am a Creditors of A Steel Industry and have High Court Order in my favor but after order the Industry applied at BIFR in Aug 2015 and my Orders are null & void , but Industry still running in good condition with huge production like 2000 mt per day and profiting also as per market of other Steel Industries Balance sheet. But they sold 20 % production without bill & challan in Market and still showing Losses in Balance Sheet as they showed from 5 years. The Above Industry also have Loan of Banks about 3000 Crore and Banks are also silent. My question is that can I file any PIL in High Court or after BIFR entry Courts will unable to act or order against the Industry. Banks are also having public money. Can we party to Banks also. Please advice.
Ask a question and receive multiple answers in one hour.
Lawyers are available now to answer your questions.
1) do you have any evidence that 20 per cent production is being sold in market without bill and challan by the steel company .
2) if so the company is defrauding excise authorities and banks
3) submit documentary evidence in your possession to all the banks who have advanced loans to steel company
4) enclose copy of said evidence to ministry of finance
5) since company has been declared a sick unit HC would be reluctant to entertain PIL .
If there is fudging of account which is fraud you can file PIL agaisnt it.
If you inform the nature of order I can advise whether you an get money back or not even if BIFR is pending.Since you are form Kolkata feel free to contact.
1. Afr the Company has been referred to BFIR, you shall have to wait for some more time to see the outcome.
2. Actually you should have filed a wind up petition before the High Court praying for winding up the Company duly paying its creditors including you, before it went to BIFR.
3. However, you can still approach the Court for the fact that he Company is selling 20% of its produce in cash without Bill and syphoning out the fund from the Companys' account.
