M/S.Integrated Finance Company v. The Federal Bank Limited
Company Application Nos.48 of 2018, 973 of 2014, 12 of 2020, 1 to 20 of 2014, 32 to 55 of 2014, 132 to 141 of 2014, 696 of 2014, 712 of 2014, 442 to 468 of 2015, 706 of 2015 & 421 of 2016 in C.P.No.172 of 2012 M.SUNDAR.J., Read this in conjunction with and in continuation of earlier proceedings made in previous listing on 19.03.2021 being common proceedings in three company applications namely, Company Application Nos.973/2014, 48/2018 and 12/2020 in C.P.No.172 of 2012.
2. Thereafter, pursuant to paragraph No.8 of the aforementioned previous proceedings, the matter was mentioned and it has been listed today.
3. In the Virtual Court today, Mr.T.Gowthaman, learned counsel for Depositors Association, Ms.Shobana, learned counsel representing Mr.V.P.Raman on behalf of IFCL and Ms.Kavitha, learned counsel representing learned counsel Mr.Sithirai Anandan are before me. 1/5
4. Mr.Niranjan Rajagopalan, learned Advocate Commissioner has also joined this virtual hearing today.
5. Adverting to the aforementioned earlier proceedings, more particularly, paragraph Nos.4 & 5 pertaining to moving on to bond holders, this Court is informed that a status report has already been filed by authorized signatory of IFCL after sharing advance copies with counsel for Depositors Association and all concerned. This report is before me. This will be considered in the next listing.
6. Be that as it may, Ms.Kavitha, learned counsel representing Mr.Sithirai Anandan who has been served pursuant to proceedings made in Company Application No.12 of 2020 in C.P.No.172 of 2012 on 20.02.2020, more particularly, paragraph No.4 thereat (to serve on counsel on record for revision petitioner in CRP.No.381 of 2020) submits that she has instructions to file Vakalatnama for fourth respondent in C.A.No.12 of 2020 and that the same will be done in the course of the day tomorrow.
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7. Registry to verify the Vakalatnama and show the name of counsel in the next listing, if the Vakalatnama is in order.
8. Be that as it may, pursuant to concluding paragraph of previous listing on 19.03.2021, as many as 88 applications have been listed today. Out of these 88 applications, this Court is informed that Company Application Nos.12/2020, 48/2018 and 973/2014 stand on a different footing. This Court is informed that remaining 85 applications pertain to transfer of individual consumer cases filed by various depositors in the State of Kerala. This Court is also informed that an order of interim stay was granted by Hon'ble Predecessor Judge on 09.01.2014.
9. Mr.T.Gowthaman, learned counsel for Depositors Association shall verify as to how many of independent complainants in various consumer fora are members of Depositors Association and submit a tabulation in this regard in the next listing so as to enable further proceedings in these matters.
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10. Learned counsel for Depositors Association points out that the question of interest component for those depositors have not forgone the same may also please be considered in the next listing.
11. Ms.Shobana, learned counsel representing Mr.V.P.Raman on behalf of IFCL submits that three more applications namely, Company Application Nos.602 to 604 of 2015 also pertain to transfer of cases from consumer fora, they are not on Board today and that the same may also please be listed. Registry to do the needful in this regard in the next listing.
12. Reverting to fixed depositors category, learned Advocate Commissioner submits that about 50 claims remain/are pending as some clarifications are to be sought for.
13. Learned counsel for Depositors Association to coordinate and do the needful so that Fixed Deposits part of the exercise can be given a closure.
14. List on 22.07.2021.
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M.SUNDAR.J., mk Company Application Nos.48 of 2018, 973 of 2014, 12 of 2020, 1 to 20 of 2014, 32 to 55 of 2014, 132 to 141 of 2014, 696 of 2014, 712 of 2014, 442 to 468 of 2015, 706 of 2015 & 421 of 2016 in C.P.No.172 of 2012 13.07.2021 5/5