Madras High CourtWP/631/2018disposed of

Chokhani International Ltd., v. Industrial Devp. Bank Of India

2018-01-10Honourable Mr Justice S. Manikumar,Honourable Mrs Justice V.Bhavani Subbaroyan3 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 10/1/2018 C O R A M THE HONOURABLE MR.JUSTICE S.MANIKUMAR A N D THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN WRIT PETITION NO.631 OF 2018

1. Chokhani International Ltd rep. By its General Manager Mr.S.Chellappa A Company incorporated under The Companies Act, 1956 and having its registered office at Z-20 First Floor, Ohkla Industrial Area Phase II, New Delhi 110 020.

2. Shri Jagadish P.Chokhani ... Petitioners Vs

1. Industrial Development Bank of India a Corporation, established under the Industrial Development Bank of India Act, 1964 and having its Head Office at IDBI Tower Cuffe Parade Mumbai 400 005.

Branch Office at 115 Anna Slai Saidapet, Chennai 600 015.

2. The Industrial Finance Corporation of India Ltd a Company incorporated under the Companies Act, 1956 and having its Registered Office at IFCI Tower, 61 Nehru Place New Delhi 110 019.

and having its Regional Office at Continental Chambers 142 Uthamal Gandhi Salai Chennai 600 034.

...

Respondents

Petition filed under Article 226 of the Constitution of India praying for the issuance of a writ of certiorari to call for the records pertaining to proceedings in I.A.No.1444/2017 in AIR No.496 of 2017 and the impugned order dated 14/12/2017 passed by the Hon'ble Debts Recovery Appellate Tribunal, Chennai, and quash the same and consequentially waive payment of Rs.15 crores ordered in I.A.No.1444 of 2017 in AIR No.496 of 2017.

For petitioners ...

Mr.T.V.Badrinarayanan

O R D E R

(Order of the Court was made by S.Manikumar,J) Vide order, dated 14/12/2017, passed by the Debts Recovery Appellate Tribunal, Chennai, disposing of I.A.No.1444 of 2017, wherein the petitioners were directed to make pre-deposit of Rs.15 crores, with the Registrar of the Debts Recovery Appellate Tribunal, Chennai, within a period of four weeks, from the date of the said order.

2. Aggrieved against the said order, the petitioner has come up with the instant writ petition.

3. Mr.T.V.Badrinarayanan, learned counsel for the petitioners submitted that if two weeks time is given, deposit would be made.

4. Submission of the learned counsel for the petitioner is placed on record.

5. In view of the submission made by the learned counsel for the petitioner, this writ petition is disposed of. Two weeks time is granted to the petitioners, from today, to make deposit. No costs. Consequently, the connected Miscellaneous Petitions are closed.

Sd/- Assistant Registrar(CS IV) //True Copy// Sub Assistant Registrar mvs.

1. Industrial Development Bank of India (a Corporation, established under the Industrial Development Bank of India Act, 1964 and having its Head Office at IDBI Tower Cuffe Parade, Mumbai 400 005.) Branch Office at 115 Anna Salai Saidapet, Chennai 600 015.

2. The Industrial Finance Corporation of India Ltd (a Company incorporated under the Companies Act, 1956 and having its Registered Office at IFCI Tower, 61 Nehru Place New Delhi 110 019.

and having its Regional Office at) Continental Chambers 142 Uthamal Gandhi Salai Chennai 600 034.

3. Debts Recovery Appellate Tribunal, Chennai-2 +1cc to Mr.P.Rajavelu, Advocate, S.R.No.1968 Writ Petition No.631 of 2018 CS/17/01/18