( 1 ) THE present writ petition is filed challenging the order dt. 16. 11. 02 passed by the appellate Authority under the Payment of Gratuity act, 1972, Bombay. Some of the material facts of the present case are briefly enumerated as under:

( 2 ) THE petitioner is a Company incorporated under the Companies Act, 1 of 1956 and have various units in different states. It is the case of the petitioners that in 1987 the worth of the company got fully eroded and there was a negative wealth and accordingly the companys management suspended operations of all its manufacturing units and approached BIFR for a revival scheme, On 27. 5. 88 the BIFR declared the company as a SICK undertaking within the meaning of section 3 (1) (c) of SICA, 1985. In 1988 the present management took over the company and ultimately reopened the Mahol Unit in july, 1988 and the Deonar Unit in October, 1988. In 1992 they reopened the Bombay unit. On 10. 11. 85 the Honble Supreme Court in SLP (Civil) No. 1018795 directed the company to submit the scheme of rehabilitation under the SICA Act. On 31. 12. 95 the rehabilitation scheme was formulated and forwarded to BIFR by the operating agency. On 8. 3. 96 the BIFR formula

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