1 BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION ...

Case No. 149/1994 : M/s JK Jute Mills Ltdwou ld a ls o give th e deta ils of a s s ets dis pos ed of, if a n y s in ceregistered in the Board.(v) Th e com pa n y wou ld n ot en cu m ber/ a lien a te/ lea s e/ s ell a n y propertywithout the specific prior approval of the Board.(vi) Th e com pa n y wou ld n ot dis -crim in a te in s ettlem en t with u n -securedcreditors.(vii) J KJ MMP wou ld s u bm it th e deta ils of m em bers h ip of th eir u n ionwithin 15 days.(viii) PNB(OA) wou ld exa m in e th e dra ft reh a bilita tion propos a l s u bm ittedby th e com pa n y in a join t m eetin g a n d s u bm it a s ta tu s reportalongwith the DRS to the Board within two months.(ix) Th e n ext da te of h ea rin g wa s fixed on 11.3.2009 (wh ich wa spostponed and later fixed on 29.6.2009).1.10 In th e h ea rin g h eld on 29.6.2009, th e Ben ch h a d is s u ed followin gdirections :-(i) Th e com pa n y would submit its com m en ts on th e deta ileds u bm is s ion s da ted 16.12.2008 filed by J KJ MMP a s wa s directed inthe last hearing.(ii) J KJ MMP would s u bm it th e deta ils of m em bers h ip of th e u n ionwithin 15 days as was directed in the last hearing.(iii) PNB (OA) would examine the affidavit and also compare the propertieslis ted in a ffida vit with th e properties listed in Form A of th e com pa n ya n d m a ke a n in s pection a t th e com pa n y s s ite a n d s u bm it a report toth e Boa rd with in 15 da ys . Th e com pan y wou ld pa y to PNB(OA) theOA fees, and actual expenses incurred by it for inspection.(iv) The company would submit its written submissions on the reasons fors ign in g th e con vers ion (lea s e) a greem en t, with ou t th e con s en t of th eBoa rd. Th e com pa n y will ca n cel th e s a id con vers ion a greem en twith in 7 da ys fa ilin g wh ich th e Boa rd will be con s tra in ed to is s u en otice u / s 33 & 34 of SICA or de-regis ter th e com pa n y from th eBoard.(v) M/s AK Products was directed to attend the next hearing of the case.(vi) The next hearing of the case would be held on 20.7.2009.4