"I will consult my counsels and they are working on it. We will approach Calcutta high court this week against BIFR for not issuing written orders to run the company, even though I have purchased the entire stake of 51.16 from Leader Universal (Mauritius)," Arya told newsperson here.

BIFR was coming in the way of revival of the company by adopting "delaying tactics," Arya alleged.

Moreover, he said, the operating agency, State Bank of India, had also run an advertisement inviting takeover of the company despite the fact that he was willing to run it.

The BIFR at its hearing in Calcutta on October 20 had asked him verbally to submit a fresh plan of action within 15 days to revive the company, but SBI's advertisement appeared in the meantime, the promoter said. Arya said he had submitted the revival plan to BIFR and also the SBI, after its ad appeared.

The city-based businessman said he had already received an award from Calcutta high court arbitrator DK Singh in his favour in presence of the parties represented by Leader Universal Holdings Berhad and Leader Universal, Hongkong Company Ltd (LUH), to run the company.

Arya had purchased Leader Universal (Mauritus), a LUH subsidiary which owned 51.18 per cent in Incab, from the promoters through a deal on September 29 at Bangkok.

(PTI)