  In a recent paper (FPL 13(6), 543, 2000, astro-ph/9910408), from several
independent considerations we showed that GTR does not allow formation of
trapped surfaces and finite mass BHs. We rediscuss here several subtle issues
involved in this work. So far only the scientific critique to this work was due
to Tereno (astro-ph/9905144, astro-ph/9905298) and which was answered in Mitra
(astro-ph/9905175, astro-ph/9905175, astro-ph/9905329). Now Tereno
(gr-qc/0111073) has also admitted that the local 3-speed of a free particle as
conventionally defined by all previous authors and as measured in any
coordinate system, is indeed c at the EH. Further since the acceleration SCALAR
BLOWS UP at the EH, our result that there cannot be any EH at a finite R is
reconfirmed. We explicitly show here that the final state of spherical collapse
of very massive stars corresponds to a zero mass BH with 2M/R ->0. But at any
finite epoch there would be a Eternally Collapsing Objects (ECO) of finite
mass. However, if quantum back reaction in the strong gravity regime would
cause a phase transition p ~ rho, there could be static ultracompact objects
(UCO) of ~ 10 M (solar). Further, if the phase transition goes proceeds to p=
-rho, there could be UCOs of arbitrary high mass (Mazur & Mottola,
astro-ph/0109035). Both ECOs and UCOs are expected to possess strong internal
magnetic field whereas the the same for a BH is zero. Robertson & Leiter (ApJ
565, 447, 2002, astro-ph/0102381) have shown that the BH candiadates may indeed
possess such strong intrinsic mag field. Thus the BHCs are likely to ECOs/UCOs
rather than BHs. We also discuss that there is no real evidence for detection
of EH.
