Atv Projects India Limited v. Integrated Finance Company Limited
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 23.08.2023 CORAM :
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU ATV Projects India Limited rep. by its General Manager, V.K.Chaturvedi No.1201, 12th Floor, Windfall Building Sahar Plaza Complex, Next to Kohinoor Hotel Andheri Kurla Road, Andheri (E) Mumbai - 400 059.
.. Appellant Vs
1. Integrated Finance Company Limited rep. by its Authorisied Signatory, A.Hema Jothi having its registered office at No.10 R-Block, Second Floor, Prem Nagar Colony South Boag Road, T.Nagar, Chennai - 17.
2. Government of Tamil Nadu rep. by Additional Director General of Police Economics Offences Wing-II SIDCO Old Garments Complex Thiru-vi-ka Nagar, Guindy Chennai - 600 032.
3. The Principal Secretary to Government Home Department, Government of Tamil Nadu Fort St. George, Chennai - 9.
4. The Deputy Superintendent of Police Economics Offences Winge-II Police Training College, 2nd Floor Ashok Nagar, Chennai - 600 083.
.. Respondents Prayer: Appeal under Clause 15 of the Letters Patent against the order dated 9.12.2021 passed by the learned Single Judge in W.P.No.5104 of 2019.
For the Appellant : Mr.Satish Parasaran Senior Counsel for Mr.M.Kempraj For the Respondents : Mr.V.P.Raman for 1st respondent
JUDGMENT
(Delivered by the Hon'ble Chief Justice) We have heard Mr.Satish Parasaran, learned Senior Counsel for the appellant; and Mr.V.P.Raman, learned counsel for the first respondent.
2. Mr.Satish Parasaran, learned Senior Counsel for the appellant,
submits that the appellant was not a party to the writ petition and the learned Single Judge has given directions to the extent that even the property of the present appellant can be attached without notice to the appellant. It is further submitted that the appellant is not a borrower, but a lessee of the equipment.
3. Learned counsel for the first respondent/original writ petitioner submits that the amount borrowed from the depositors was disbursed to many companies, including appellant herein, and the learned Single Judge has directed the original writ petitioner to disclose the information and subsequently action is to be taken as per Sections 3 and 4 of the Tamil Nadu Protection of Interests of Depositors (In Financial Establishments) Act, 1997.
4. In fact, the order passed by the learned Single Judge does not fasten liability on anyone. It only records that the original writ petitioner may furnish necessary particulars of the borrowers, who borrowed money from the writ petitioner company, and that the authority would thereafter proceed further.
5. When the learned Single Judge had said that the authorities may proceed further as per Sections 3 and 4 of the Act, it does not mean that the respondent authorities would proceed further even without adhering to the procedure and/or the principles of natural justice. Naturally, after the information is given by the original writ petitioner, if the respondent authorities are of the opinion that action deserves to be initiated, then they can do so only after issuing notice to the present appellant. If notice is already issued, it is for the appellant to submit its reply to the same in accordance with law and take further steps.
The writ appeal is disposed of accordingly. It is made clear that we have not decided the contentions on merits. There will be no order as to costs. Consequently, C.M.P.Nos.18928, 18930 and 18929 of 2023 are closed.
(S.V.G., CJ.) (P.D.A., J.) 23.08.2023 Index :
Yes/No Yes/No sasi
To
1. The Additional Director General of Police Government of Tamil Nadu Economics Offences Wing-II SIDCO Old Garments Complex Thiru-vi-ka Nagar, Guindy Chennai - 600 032.
2. The Principal Secretary to Government Home Department, Government of Tamil Nadu Fort St. George, Chennai - 9.
3. The Deputy Superintendent of Police Economics Offences Winge-II Police Training College, 2nd Floor Ashok Nagar, Chennai - 600 083.
THE HON'BLE CHIEF JUSTICE AND P.D.AUDIKESAVALU,J.
(sasi) 23.08.2023