Transmedica Thozhilalargal v. Transmedica (India_ Ltd.,
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 21.11.2023
CORAM
THE HONOURABLE MR.JUSTICE K.KUMARESH BABU and M.P.Nos.1 and 2 of 2007 M/s.TRANSMEDICA THOZHILALARGAL SANGAM [Regn. No.1261/RTU/2001] No.471, Bharathi Street, Puducherry-605 1110 Represented by its President S.Motilal ... Petitioner Vs 1.M/s.TRANSMEDICA (India) Limited, No.6 (Old No.2-D), Vasant Street, T.Nagar, Chennai - 600 017.
2.The Chairman & Managing Director, Industrial Development Bank of India Limited, IDBI Tower, Cuffe Parade, Mumbai.
3.The Deputy General Manager & Authorised Officer, Industrial Development Bank of India Limited, No.115, Anna Salai, Saidapet, Page No: 1/7
Chennai - 600 015.
4.The Commissioner of Labour, Labour Department, Puducherry.
5.Puduchery Industrial Promotion Development and Investment Corporation Lts. (PIPDIC), No.60, Romain Rolland Street, Puducherry - 605 001.
... Respondents PRAYER:- Writ Petition filed under Article 226 of the Constitution of India, to issue a Writ of Mandamus to direct the 2nd and 3rd respondents to deposit a sum of Rs.4.05 Crores from out of the sale proceeds of the movable and immovable properties of the 1st respondent with the 4th respondent herein, who in turn, may be directed to compute and disburse the amounts due to the workers of the 1st respondent within 1 month after issuing notice to the petitioner herein and pass such further orders.
For Petitioner : Mr.S.Sathia Chandran For R 1 : No appearance For RR2 & 3 : Mr.Lokesh Kumar for Mr.Palani Kumar Ramesh For R4 : Mr.Vasanth Kumar Additional Government Pleader (Pondicherry) For R5 : Mr.D.Ravi Chandran
ORDER
Page No: 2/7
This Writ Petition has been initiated by the M/s.TRANSMEDICA Thozhilalargal Sangam/petitioner. In view of default in repayment of the amount, the 2nd and 3rd respondent had initiated action against the 1st respondent for recovery of certain dues to them and had sold certain properties which were put to auction in which they had also recovered their dues.
2. Heard the learned counsels appearing for their respective parties and perused the materials available on record before this Court.
3. The case of the petitioner is that out of the recovered dues, they are entitled to a proportionate sum of Rs.4.05 Crores towards the dues payable to them by the 1st respondent.
4. It is not the case of the petitioner that the 1st respondent had been wound up or was not functioning at the time of filing of this Writ Petition. When that being so, there can be no claim as against the 2nd and 3rd respondent even as pari passu towards the dues that has to be Page No: 3/7
paid by the 1st respondent to the workers of the petitioner's Sangam. The Writ Petitioner/Sangam itself has pleaded in its affidavit filed in support of the Writ Petition that the BIFR had rejected a reference of the 1st respondent to declare the Company a sick industry as not maintainable since the net worth of the Company was positive. When that be so, the 1st respondent/Company at the time, when the action was initiated by the 2nd and 3rd respondents could not be termed to be a sick industry or an industry that has been wound up for the petitioner to make his claim under the pari passu principle.
5. Therefore, I find no necessity to issue Mandamus as sought for in this Writ Petition and the petitioner's Sangam is at liberty to workout the remedy against the 1st respondent.
6. With the aforesaid liberty, this Writ Petition is dismissed. However, there shall be no order as to costs. Consequently, connected miscellaneous petition is closed.
21.11.2023 Page No: 4/7
gba Index : Yes/No Speaking order : Yes/No To 1.M/s.TRANSMEDICA (India) Limited, No.6 (Old No.2-D), Vasant Street, T.Nagar, Chennai - 600 017.
2.The Chairman & Managing Director, Industrial Development Bank of India Limited, IDBI Tower, Cuffe Parade, Mumbai.
3.The Deputy General Manager & Authorised Officer, Industrial Development Bank of India Limited, No.115, Anna Salai, Saidapet, Chennai - 600 015.
4.The Commissioner of Labour, Page No: 5/7
Labour Department, Puducherry.
5.Puduchery Industrial Promotion Development and Investment Corporation Lets. (PIPDIC), No.60, Romain Rolland Street, Puducherry - 605 001.
Page No: 6/7
K.KUMARESH BABU,J.
Gba and M.P.No.1 of 2007 21.11.2023 Page No: 7/7