Govt Of A.P. Rep By Its Secretary To Govt v. Appellate Authority For Industrial And Financial

HON'BLE SRI JUSTICE V.RAMASUBRAMANIAN AND HON'BLE SRI JUSTICE A. SHANKAR NARAYANA Writ Petition No.9328 of 2005 Order: (per V. Ramasubramanian, J) The State Government has come up with the present writ petition challenging the order passed by the Appellate Authority for Industrial and Financial Reconstruction (AAIFR) dated 19-02-2003 confirming an order of BIFR dated 09-05-2002 directing the Government to provide an unconditional and irrevocable guarantee, as part of a scheme known as SS-94 sanctioned by BIFR for the revival and rehabilitation of the company by name Hyderabad Allwyn Limited.

It appears that subsequently the scheme itself failed and all the 3 divisions of Hyderabad Allwyn Limited have been transferred to other companies. Therefore, the question of providing any unconditional and irrevocable guarantee, after the failure of the scheme does not arise. Hence, the writ petition is closed, by recording the fact that the scheme for rehabilitation has already failed and the question of providing any bank guarantee on the basis of the said scheme does not arise.

_______________________ V.RAMASUBRAMANIAN,J _______________________ A.SHANKAR NARAYANA,J Date: 04-08-2016 Ksn