w w w . L a w y e r S e r v i c e s . i n



S. Mahesh v/s The Tamilnadu Industries Investment Corporation Ltd., Chennai & Others


Company & Directors' Information:- MAHESH INDUSTRIES PRIVATE LIMITED [Active] CIN = U51101DL2007PTC171159

Company & Directors' Information:- P V T INVESTMENT LIMITED [Amalgamated] CIN = U74899DL1988PLC121600

Company & Directors' Information:- P V T INVESTMENT LTD [Not available for efiling] CIN = U67120PB1988PLC008068

Company & Directors' Information:- S T INVESTMENT PRIVATE LIMITED [Amalgamated] CIN = U65993WB1990PTC050032

Company & Directors' Information:- H. L. INVESTMENT COMPANY LIMITED [Amalgamated] CIN = U65990WB1975PLC128186

Company & Directors' Information:- M M INVESTMENT PRIVATE LIMITED [Converted to LLP] CIN = U65921CT2008PTC020533

Company & Directors' Information:- G. N. G. INVESTMENT LIMITED [Active] CIN = U65910GJ1981PLC004128

Company & Directors' Information:- A S G S INVESTMENT PRIVATE LIMITED [Active] CIN = U74120DL2008PTC173938

Company & Directors' Information:- G L INVESTMENT PVT LTD [Active] CIN = U65993WB1991PTC051072

Company & Directors' Information:- C & C INVESTMENT LTD [Active] CIN = U67120AS1976PLC001654

Company & Directors' Information:- S M S INVESTMENT CORPORATION PRIVATE LIMITED [Active] CIN = U74899DL1963PTC003988

Company & Directors' Information:- V R V INVESTMENT PRIVATE LIMITED [Active] CIN = U67120WB1985PTC039793

Company & Directors' Information:- S P INVESTMENT PVT LTD [Active] CIN = U70109WB1961PTC025099

Company & Directors' Information:- R H INVESTMENT PRIVATE LIMITED [Active] CIN = U99999MH1978PTC020633

Company & Directors' Information:- T N B INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1986PTC025590

Company & Directors' Information:- A R S INVESTMENT PVT LTD [Active] CIN = U65993WB1990PTC048513

Company & Directors' Information:- V P INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1983PTC015714

Company & Directors' Information:- S M D INVESTMENT LIMITED [Strike Off] CIN = U65993TN1995PLC033139

Company & Directors' Information:- G R D INVESTMENT PVT LTD [Amalgamated] CIN = U67120WB1980PTC032727

Company & Directors' Information:- C AND N INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1983PTC015710

Company & Directors' Information:- R INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U65993TZ1988PTC002181

Company & Directors' Information:- H N G L INVESTMENT PRIVATE LIMITED [Active] CIN = U74899DL1995PTC066774

Company & Directors' Information:- K M S INVESTMENT PRIVATE LIMITED [Active] CIN = U67120UP1993PTC015287

Company & Directors' Information:- U M INVESTMENT PVT LTD [Active] CIN = U70101WB1979PTC032160

Company & Directors' Information:- A S T INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U67120DL1996PTC082812

Company & Directors' Information:- B N E INVESTMENT LTD [Not available for efiling] CIN = U67120WB1974PLC029360

Company & Directors' Information:- K S J INVESTMENT COMPANY PRIVATE LIMITED [Strike Off] CIN = U74899DL1994PTC061335

Company & Directors' Information:- P T INVESTMENT PVT LTD [Strike Off] CIN = U65999WB1995PTC067065

Company & Directors' Information:- K. S. R. INVESTMENT LIMITED [Strike Off] CIN = U65992UP1988PLC010253

Company & Directors' Information:- J T INVESTMENT PVT LTD [Strike Off] CIN = U65923WB1979PTC032344

Company & Directors' Information:- R K INVESTMENT LTD [Strike Off] CIN = U65993WB1969PLC027398

Company & Directors' Information:- N M G C INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U74899DL1982PTC014603

Company & Directors' Information:- T M INVESTMENT CO PVT LTD [Active] CIN = U67120WB1971PTC028172

Company & Directors' Information:- S. A. F. INVESTMENT LIMITED [Active] CIN = U67120DL1997PLC088611

Company & Directors' Information:- H K (INVESTMENT) COMPANY PRIVATE LIMITED [Active] CIN = U65990GJ1950PTC000511

Company & Directors' Information:- P N INVESTMENT PRIVATE LIMITED [Under Liquidation] CIN = U65910GJ1988PTC010715

Company & Directors' Information:- INVESTMENT CORPORATION LIMITED [Under Liquidation] CIN = U65993KL1942PLC000449

Company & Directors' Information:- S R M INVESTMENT PVT LTD [Strike Off] CIN = U67120WB1979PTC031888

Company & Directors' Information:- A TO Z INVESTMENT PVT LTD [Dissolved] CIN = U67120WB1988PTC044464

Company & Directors' Information:- R J INVESTMENT PRIVATE LIMITED [Active] CIN = U67120MH1976PTC018954

Company & Directors' Information:- B N K INVESTMENT CO PVT LTD [Active] CIN = U65993WB1971PTC028169

Company & Directors' Information:- A D INVESTMENT CO PVT LTD [Active] CIN = U67120WB1971PTC028170

Company & Directors' Information:- T D INVESTMENT CO PVT LTD [Strike Off] CIN = U65921CH1987PTC007637

Company & Directors' Information:- C G K INVESTMENT P LTD [Strike Off] CIN = U65910AP1986PTC006088

Company & Directors' Information:- L D INVESTMENT COMPANY PVT LTD [Strike Off] CIN = U65921HP1988PTC008425

Company & Directors' Information:- G K INVESTMENT PRIVATE LIMITED [Active] CIN = U65993TZ1987PTC001919

Company & Directors' Information:- G V INVESTMENT PRIVATE LIMITED [Active] CIN = U65993TZ1987PTC001920

Company & Directors' Information:- B C K H INVESTMENT CO PVT LTD [Active] CIN = U67120MH1982PTC026819

Company & Directors' Information:- H V INVESTMENT PRIVATE LIMITED [Active] CIN = U67120MH1997PTC107686

Company & Directors' Information:- M L INVESTMENT PVT LTD [Strike Off] CIN = U67120WB1979PTC032180

Company & Directors' Information:- S & G INVESTMENT COMPANY PRIVATE LIMITED [Active] CIN = U65100DL2012PTC244271

Company & Directors' Information:- S B INVESTMENT PVT LTD [Liquidated] CIN = U99999RJ1959PTC001090

Company & Directors' Information:- R AND P INVESTMENT PVT LTD [Strike Off] CIN = U67120PB1995PTC016124

Company & Directors' Information:- M M B INVESTMENT PRIVATE LIMITED [Active] CIN = U65993RJ1996PTC012698

Company & Directors' Information:- M G A INVESTMENT COMPANY PRIVATE LIMITED [Strike Off] CIN = U99999MH1980PTC022406

Company & Directors' Information:- D S N INVESTMENT PVT LTD [Strike Off] CIN = U65993TG1988PTC008554

Company & Directors' Information:- V. I INVESTMENT PVT LTD [Strike Off] CIN = U67120HR1988PTC030206

Company & Directors' Information:- R J P INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U65993GJ1981PTC004678

Company & Directors' Information:- D D P INVESTMENT PRIVATE LIMITED [Strike Off] CIN = U65910GJ1981PTC004695

Company & Directors' Information:- C J P INVESTMENT PVT LTD [Strike Off] CIN = U99999GJ1981PTC004662

Company & Directors' Information:- M P INVESTMENT CO PRIVATE LIMITED [Under Process of Striking Off] CIN = U65993KA1974PTC002646

Company & Directors' Information:- INVESTMENT COMPANY PRIVATE LIMITED [Dissolved] CIN = U65990KL1946PTC000461

Company & Directors' Information:- INVESTMENT CORPORATION LIMITED [Not available for efiling] CIN = U99999MH1943PLC007730

    W.P. No. 1523 of 2021 & WMP No. 1721 of 2021

    Decided On, 27 January 2021

    At, High Court of Judicature at Madras

    By, THE HONOURABLE MR. JUSTICE B. PUGALENDHI

    For the Petitioner: T.L. Thiumalisamy, Advocate. For the Respondents: -------



Judgment Text

(Prayer: Petition filed under Article 226 of the Constitution of India praying to issue a writ of Mandamus directing the respondents to consider the petitioner's representation dated 13.03.2020 in the light of the order passed by this Court on 20.08.2018 in W.P.No.4396 of 2017 within a reasonable time.)

1. The matter is taken up through web hearing. This writ petition is filed for a Mandamus to direct the respondents to consider the petitioner's representation dated 13.03.2020 in the light of the order passed by this Court in W.P.No.4396 of 2017 dated 20.08.2018.

2. Since this writ petition is being disposed of without affecting the interest of the respondents, notice to the respondents is dispensed with.

3. When the petitioner's properties were put to auction by the respondent Board through auction notice dated 24.01.2017, the petitioner approached this Court by way of writ petition in W.P.No.4396 of 2017 and also offered to pay a sum of Rs.8,00,000/- within a period of eight weeks from the date of receipt of the said order. In view of the same, this Court allowed the writ petition on 20.08.2018 with the following terms.

i) The impugned auction notice issued by the 3rd respondent in proceedings dated 24.01.2017, is quashed.

ii) The writ petitioner is directed to pay a sum of Rs.8,00,000/- (Rupees Eight Lakhs only) to the respondents within a period of eight weeks from the date of receipt of the copy of this order.

iii) The respondents, thereafter, is directed to calculate the balance amount and inform the same to the writ petitioner within a period of two weeks from the date of payment of a sum of Rs.8,00,000/- by considering the case of the writ petitioner for waiver of penal interest as the petitioner has shown his bonafide.

iv) On receipt of such information from the respondents, the writ petitioner shall repay the entire balance loan amount in six equal instalments from the date of receipt of the orders from the respondents.

v) If the petitioner fails to comply with any of the directions in this order, then the respondents are at liberty to proceed against the writ petitioner in accordance with law.

9. The writ petition stands allowed with the above directions.”

4. The grievance of the petitioner is that even though this Court directed the respondents to calculate the balance amount and inform the same to the petitioner within a period of two weeks from the date of payment of the aforesaid Rs.8,00,000/-, the respondents have not calculated the total amount so far and therefore, the petitioner could not make the balance amount.

5. However, it appears that after the payment made by the petitioner, there was a communication from the respondents in TIIC/SLM/LAO/2019-20 dated 09.10.2019 that the Board has approved the One Time Settlement amount of Rs.11,40,382/- including the other dues of Rs.69,272/- upto 31.07.2019. It is also informed that the Board resolved to approve the waiver of penal interest of Rs.2,80,857/- in Term Loan account and further interest need not be charged from 01.08.2019 in the loan account and treat the amount as settled, subject to the following conditions:

1. The concern shall remit the settlement amount of Rs.11,40,382/- (Rupees Eleven Lakhs Forty Thousand Three Hundred and Eighty Two only) plus Other Dues of Rs.69,272/- (Rupees Sixty Nine Thousand Tow Hundred and seventy two only), the other incidental charges, interest tax, subsidy ineligible amount along with interest, if any, in six monthly instalments from the date of communication of settlement approval.

2. The settlement amount shall be paid in six monthly instalments with simple interest at 12.20% p.a. till the date of settlement. The interest will be charged form the date of communication.

3. The concern shall also has to remit other dues, other incidental charges etc. if any till the date of settlement of account.

4. The waiver concessions granted stands cancelled automatically, if the loan is not settled as per clause 1,2,3.

6. A reminder was also made on 27.02.2020 directing the petitioner to remit the One time Settlement amount of Rs.11,40,382/- + other dues of Rs.69,272/- with other incidental charges, interest tax, subsidy ineligible amount along with interest if any, in six monthly instalments from the date of communication i.e., from 09.10.2019.

7. Now, the apprehension of the petitioner is that since the respondent Board has not finalised the other incidental charges, interest tax, subsidy ineligible amount in the final settlement, the petitioner could not make the payment.

8. From the above, it is seen that this Court, by considering the petitioner's representation, passed an order in W.P.No.4396/2017 dated 20.08.2018 and the 4th respondent has also offered one time settlement of Rs.11,40,382/- by their communi

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cation dated 09.10.2019 and also provided six monthly instalments with simple interest at 12.20 % p.a. till the date of settlement. Therefore, this Court is not inclined to entertain this Writ petition. However, the respondent Board shall clarify with regard to the other incidental charges, interest tax, subsidy ineligible amount, if any, to the petitioner, enabling him to make the payment and settle the amount due by him. 9. Accordingly, the Writ Petition is disposed of. No costs. Consequently, connected miscellaneous petition is closed.
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