Sri Rayalaseema Paper Mills Limited v. Appellate Authority For Industrial Andfinancial Reconstruction

THE HON'BLE SRI JUSTICE S.V. BHATT WRIT PETITION No.7618 of 2012 ORDER:

Heard Sri Y.Ramarao, learned counsel for the petitioner company, Sri K.R.Raman, learned counsel for respondent No.2 and Sri P.V.S.S.S.Rama Rao, learned counsel for respondent No.3. The petitioner company complains against inaction of respondent Nos.2 and 3 in re-listing its stocks bearing in mind the rehabilitation scheme, dated 20.07.2005, as illegal and amounts to refusing to exercise the power vested in respondent No.2. Learned counsel for the petitioner company, after arguing the matter for a while and keeping in consideration that the application for re-listing was made as early as on 31.01.2007 and having regard to the changed circumstances over the years, requests the Court to permit the petitioner company to apply afresh for re-listing the shares in accordance with law. The submission is placed on record. The Writ Petition is dismissed by leaving it open to the petitioner company to apply afresh and the same is considered in accordance with law and appropriate orders are passed. No order as to costs.

Miscellaneous petitions, if any, pending in this writ petition shall stand closed.

______________ S.V. BHATT, J 04th March, 2015 GHN