M/S.Maruthi Papers v. The General Manager (Admin)

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 23.04.2024 CORAM :

THE HONOURABLE MR. JUSTICE S.M.SUBRAMANIAM W.P. No.11006 of 2024 and W.M.P.No.12090 of 2024 M/s.Maruthi Papers, Partnership Firm, Represented by its Managing Partner, Tmt.P.M.Chandra ... Petitioner Vs.

The General Manager (Admin), Pondicherry Industrial Promotion Development and Investment Corporation Ltd., Regd.Office, No.60, Romain Rolland Street, Pondicherry - 605 001.

... Respondent Prayer:Writ Petition is filed under Article 226 of Constitution of India, for issuance of writ of Mandamus, directing the respondent to verity the account of the petitioner and calculate the actual principle amount and adjusting the amount paid by the petitioner in pursuant to the undertaking made before this Hon'ble Court in W.P.No.28317 of 2015 and further direct the respondent to duly consider the One Time Settlement proposed by the petitioner in W.P.No.28317 of 2015.

For Petitioner : Mr.B.Balavijayan Page No.1 of 5

For Respondent : Mr.D.Ravichander Standing Counsel

O R D E R

The relief sought for in the present writ petition is to direct the respondent to verity the account of the petitioner and calculate the actual principle amount after adjusting the amount paid by the petitioner, in pursuant to the undertaking made before this Court in W.P.No.28317 of 2015 and further direct the respondent to duly consider the One Time Settlement proposed by the petitioner in the said writ petition. 2.

With reference to the relief sought for in the present writ petition, the writ petition earlier filed in W.P.No.28317 of 2015, this Court passed final orders on 12.08.2022 as follows:

"4. Considering the submission made by the counsel appearing for the petitioner and the respondent, petitioner is directed to submit his fresh proposal for One Time Settlement (OTS), within a period of two weeks from the date of receipt of copy of this order.

5. The respondent corporation is directed to consider the One Page No.2 of 5

Time Settlement (OTS) offer made by the petitioner within a period of 6 weeks thereafter."

3.

Pursuant to the orders issued by this Court, the Government examined the merits and found that several such aggrieved persons also filed application for grant of permission under One Time Settlement. Accordingly, the Government formulated a scheme for the benefit of the borrowers. 4.

Mr.D.Ravichander, learned Standing Counsel for the respondent would submit that the concession has already been granted as under: "3. The tentative comparative statement of the dues to be paid under Normal procedure as well as OTS/CSS scheme on 31.03.2024 is as shown below:

Under Normal Procedure:- Principal - Rs.53,50,730/- Interest - Rs.1,30,28,204/- Under OTS/CSS Scheme:- CSS Payable - Rs.74,17,823/- 12% Simple Interest Chargeable (31.03.2023 to 31.03.2024)- Rs.8,92,577/- Total amount to be paid as on 31.03.2024 - Rs.1,83,78,934/- Total CSS Payable Amount as on 31.03.2024- Rs.83,10,400/-* Total CSS benefit - Rs.1,00,68,534/-* 5.

Since the request of the petitioner for One Time Settlement has Page No.3 of 5

already been considered by the respondent and a scheme has been formulated, the petitioner is at liberty to approach the respondent for the purpose of settling the issues by following due procedures. 6.

Accordingly, this Writ Petition stands disposed of. There shall be no order as to costs. Consequently, connected miscellaneous petition is closed. 23.04.2024 Index :

Yes/No Speaking Order :

Yes/No :

Yes/No veda To The General Manager (Admin), Pondicherry Industrial Promotion Development and Investment Corporation Ltd., Regd.Office, No.60, Romain Rolland Street, Pondicherry - 605 001.

S.M.SUBRAMANIAM,J.

veda Page No.4 of 5

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