N.DHINAKAR, A.KULASEKARAN
Sivananda Steels Ltd. – Appellant
Versus
India Cements Capital Finance Ltd. – Respondent
A. Kulasekaran, J.
1. When the matter is listed for admission, after hearing the learned counsel for both sides, the same is disposed of in limine .
2. This appeal has been filed to set aside the order dated 27.10.2003 passed in Application No. 4298 of 2003, rejecting the request of the appellants to set aside the order dated 29.4.2003 made in Application No. 5074 of 2002 in appointing the Advocate Commissioner.
3. Learned counsel Mr. C.S. Dhanasekaran, appearing for the appellants, has submitted as follows:
The appellants and the respondent entered into a Hire Purchase Agreement dated 25.2.1998 in respect of the schedule machineries; the first appellant company has been duly declared as sick under Section 3(1)(o) of the Sick Industrial Companies Act and, therefore, the proceedings taken under Section 9 of the Arbitration and Conciliation Act, 1996, are not maintainable. The first appellant company has been directed by an order dated 22.9.2000 under Section 22-A of the Sick Industrial Companies Act by the BIFR, not to dispose of any fixed or current assets of the company, without the consent of the BIFR. Hence, non-payment of dues is neither wilful nor wanton, but for th
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