1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION Amk NOTICE OF MOTION NO. 172 OF 2010 IN WRIT PETITION NO. 317 OF 2007 Shramik Mahasangh, Mumbai .. Petitioner Vs. Board For Industrial & Financial Reconstruction & Ors. .. Respondents Mr. Arshad Shaikh with Mr. Vinod Shetty for the Petitioner. Mr. J. P. Cama, Sr. Counsel with Ms. Jyoti Singh & Ms. Mrudula Khedekar i/b Dhir & Dhir Associates for Respondent No.2. Mr. Vivek S. Sawant i/b. Kusumakar Kaushik for Respondent No.4. CORAM : F. I. REBELLO, J. A. A. SAYED, J. DATE : 9th April, 2010. P.C. 1. We have heard the parties. Writ Petition No. 317 of 2007 was filed against the order of AAIFR holding that as the company’s net worth has turned positive. BIFR had no further jurisdiction to monitor the functioning of the company. This is the subject matter of the petition. On the net worth of the company becoming positive, the stand of the company before BIFR was that the scheme as 2 sanctioned no longer survives. That contention was rejected by BIFR. In an Appeal preferred before AAIFR, the Appellate Authority held that once the net worth of the company is positive, the BIFR has no jurisdiction to continue to exercise jurisdiction. In the light of that the Appellate Authority allowed the Appeal. Writ Petition No. 317 of 2007 is arising out of that order. 2. Notice of Motion is taken out in Writ Petition No. 317 of 2007. As AIFR has held that BIFR has no further jurisdiction, we do not find at this stage we can consider the prayer in the Notice of Motion. The Notice of Motion is dismissed. (A. A. SAYED, J.) (F. I. REBELLO, J.)