m/s. shah alloys ltd. summary record of the proceeding - Board for ...

Case No..13/2010
M/S Shah Alloys Ltd
des ta bilized a n d lea d to grea t la bou r u n res t in th e com pa n y. Th e company
has not been able to pay the wages of the labour for the last 3-4 months.
2.11 Ha vin g con s idered th e s u bm is s ion s m a de in th e h ea rin g a n d m a teria l
on record, the Bench issued the following directions :-
(a) OA (UBI) to con ven e a join t m eetin g a n d s u bm it a fu lly tied-up
DRS, a fter exa m in in g th e TEV Stu dy report s u bm itted by MECON Ltd
to th e Boa rd office a n d OA with in a period of 45 da ys , a s a greed in
the hearing.
(b) Sta te Ba n k of In dia (SBI) to file written s u bm is s ion s on th e
objection ra is ed by th e con cu rren t Au ditors Report, a s a greed in th e
hearing, with in a period of two weeks with copy to OA (UBI) a n d th e
company. Th erea fter, th e com pa n y to file its reply on th e written
s u bm is s ion s of SBI, if a n y, with in a fu rth er period of two weeks with
copy to SBI and OA (UBI).
(c) IDBI to file written submissions as agreed in the hearing, if they
wis h rega rdin g SIA, with in a period of 15 da ys with copy to OA (UBI)
a n d th e com pa n y. Th erea fter, th e com pa n y to file its reply on th e
written s u bm is s ion s of SBI with in a fu rth er period of two weeks with
copy to IDBI and OA (UBI).
(d)
Th e com pa n y to n egotia te a n d en ter in to s ettlem en t with a ll th e
secured creditors.
(e)
Th e com pa n y to file copy of th e order of Labour Cou rt of
Gujarat, on the injunction order in respect of workers within 15 days.
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