BABOO LALL JAIN, J.

( 1 ) THE Court : This matter is coming up in the list for orders pursuant to the order dated 24th of January, 1994 passed by the Appellate Authority for Industrial and Financial Reconstruction, New Delhi (here-in-after referred to as "aifr" ). The said appellate authority forwarded its recommendations to this Court by their letter dated 4th of February, 1994. The appellate authority after considering various aspects of the matter held that there was absolutely no substance in the appeal which was accordingly dismissed and the impugned order of the BIFR dated 7th of September, 1992 was confirmed by the said appellate authority.

( 2 ) BY the order dated 7th of September, 1992 the Board for Industrial and Financial Reconstruction (here-in-after briefly referred to as BIFR') inter alia held as follows :-"19. After carefully considering all the facts on record and submissions made at the hearing, the Bench concluded that no agreed scheme to rehabilitate the company was forthcoming. The objections made by the company to the report of the consultant too were not substantively borne out. The points raised by Shri Gupta in regard to projections for miscellaneous realis

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