State Industries Promotion v. M/S.Papanasam Paper Mills Ltd.

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 17.11.2022

CORAM

THE HON'BLE MR. JUSTICE C.V.KARTHIKEYAN Original Petition No.717 of 2013 and Application No.4499 of 2022 State Industries Promotion Corporation of Tamil Nadu Limited, represented by its Chairman & Managing Director ... Petitioner

Versus

1.M/s.Papanasam Paper Mills Ltd., D-2, III Floor, Vasanth Apartments, Abhiramapuram, Chennai - 600 018.

2.Thiru.A.L.Vadivelu 3.Thiru.R.Muthu Thiru.V.Pasupathy (Deceased) 5.Janab M.Gulam Mohideen Thiru.K.Thiagarajan (Deceased) Thiru N.Swaminathan 8.State Bank of India, Stressed Assets Resolution Centre, No.374, III Floor, Anna Salai, Chennai 600 006.

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9.Ravi Venkatapathy 10.Uma 11.P.T.R.Thiagarajan ... Respondents (Respondents 9 to 11 impleaded as the legal heirs of the deceased, 4th respondent and 11th respondent impleaded as the legal heirs of the deceased 6th respondent as per Order dated 02.11.2020) Prayer:

The Original Petition filed under Sections 31 (1) (aa) of the State Financial Corporation Act, 1951, seeking to pass an order determining the liabilities of the respondents and directing the respondents to jointly and severally to pay the petitioner a sum of Rs.12,56,31,188/- together with interest 15.5% per annum from 31.03.2012 till the date of realization failing which, to proceed against personally and against their properties and for costs of the petition.

For Petitioner : Mr.Sudharashana Sunder For R3 and R2 : Ms.A.L.Gandhimathi For R1, R4, R5, R6, R7 & R8 : No appearance

ORDER

The learned counsel for the petitioner filed a memo enclosing a letter from the petitioner. The said letter is as follows: "L/F&R/Papanasam/2022 Tmt.Sudarshana Sunder, Advocate, No.16, Natesan Colony, BY RPAD/BY HAND Alwarpet, Chennai - 600 018.

BY MAIL 2/4

Madam, Sub: M/s.Papanasam Paper Mills Ltd., - SFCOP No.717/2013 filed by SIPCOT - Withdrawal of case - Requested - Reg.

You are hereby requested to withdraw the SFC OP No.717/2013 filed by SIPCOT against M/s.Papanasam Paper Mills Ltd.

Thanking You, Yours faithfully, Sd/.........../15.11.2022 DY.GENERAL MANAGER(L)"

2. Additionally, the learned counsel for the petitioner made the following endorsement.

"The petitioner may be permitted to withdraw the above OP.

Sd/...........

Counsel for the petitioners 17/11/2022"

3. In view of the same, the Original Petition stands dismissed as withdrawn. No costs. Consequently, the connected miscellaneous petition stands closed.

17.11.2022 Index:Yes/No Speaking Order : Yes/No ssi 3/4

C.V.KARTHIKEYAN,J., ssi 17.11.2022 4/4