( 1 ) THE Indian Steel and Wire Products Limited filed this petition with the prayer that the order dated 25. 7. 2003 passed by the The Board of Industrial and Financial Reconstruction (in short `bifr ) be quashed/set aside. It may be pertinent to mention that the BIFR after hearing all sides for over two years had accepted the revised proposal submitted by respondent No. 13/tata Iron and Steel Company Limited (in short `tisco ). All the creditors also accepted the proposal. According to that proposal, apart from TISCO s outstanding dues of Rs. 20 crores which TISCO has to recover from others, TISCO has undertaken to further invest an amount of about Rs. 38 crores. In other words, the proposal of TISCO was to invest in all at least Rs. 58 crores. This offer of TISCO was accepted by the secured creditors.

( 2 ) AFTER respondent No. 13 s offer was accepted this petition was filed in this court in which it was mentioned that the petitioner s offer was not considered in the proper perspective by the BIFR though the petitioner s offer was as good as the offer of respondent No. 13, if not better. Impression given to the court was that the petitioner is not as large