BANGALORE: The Karnataka High Court on Monday directed the Government to submit an affidavit explaining why the State-owned company Mysore Lamps, which has been declared as a sick unit, could not be rejuvenated.
Justice Rammohan Reddy passed the order when he was a hearing a petition to wind up the company. The Government had referred the company to the Bureau of Industrial and Financial Reconstruction, which had declared it as a sick unit. The winding up proceedings are being heard by the High Court.
When the matter came up, Justice Rammohan Reddy sought to know from the Government why it was interested in reviving the New Government Electric Factory and not other sick units, including Mysore Lamps.
He asked the Government what yardstick it was adopting while taking a decision on either reviving a company or winding it up. He directed the government advocate to submit before February 20 an affidavit detailing the Government stand on the issue.
Mysore Lamps is a Bangalore-based company located in Malleswaram. While the Government wants to wind it up, some employees say that the company could be revived.