Prince Poly Profiles v. The Tamilnadu Industrial Investment Corporation Limited
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 14.11.2024
CORAM
THE HON'BLE Mr. JUSTICE C.V.KARTHIKEYAN and W.M.P.No.36021 of 2024 Prince Poly Profiles Represented by its Managing Partner P.Sekar No.2/87 J, Karattukadu, Nachipatti, Vennandur, Rasipuram, Namakkal District.
.. Petitioner Vs.
1. The Tamil Nadu Industrial Investment Corporation Limited, Represented by its Branch Manager, Sri Lakshmi Complex (1st floor), 4/22, Omalur main road, Swarnapuri, Salem-636 004.
2. The Tamil Nadu Industrial Investment Corporation Limited, No.692, Anna salai, Nandanam, Chennai-600 035.
.. Respondents 1/6
Prayer: Writ Petition filed under Article 226 of the Constitution of India praying to issue a Writ of Mandamus directing the respondents to sanction the capital subsidy amount for Micro Small and Medium Manufacturing Enterprises of Rs.30 Lakhs with interest to the petitioner from the date of his application dated 20.05.2020.
For Petitioner : Mr. K.K.Senthilvelan, Senior Counsel for Mr.J.Thomas Saran Singh For R1 & R2 : Mr.K.H.M.Afzal, Standing Counsel (TIIC)
ORDER
The writ petition has been filed in the nature of mandamus seeking a direction to the respondents, the Tamil Nadu Industrial Investment Corporation Limited, to sanction capital subsidy amount for Micro Small and Medium Manufacturing Enterprises of Rs.30 lakhs together with interest to the petitioner from the date of his application dated 20.05.2020.
2. In the affidavit filed in support of the writ petition, it had been stated that the petitioner firm, Prince Poly Profiles at Namakkal was established in the year 2011 for manufacture of the PVC doors, PVC 2/6
cupboard materials, PVC wall panels, ceiling panels, PVC pipes and related items. The factory is situated at Namakkal. It had been stated that the term loan had been obtained by the petitioner from State Bank of India and also from Karur Vysya Bank. It had also been stated that the respondents had approached the petitioner firm and explained about the capital subsidy for Micro Small and Medium Manufacturing Enterprises. The petitioner was asked to approach the District Industrial Centre. It had been stated that the petitioner had acted on the promise of the said official and also got subsidy for expansion of the industry. He had filed an application seeking capital subsidy on 20.05.2020. It is complained by the petitioner that there has been no further progress by the respondents.
3. Learned Standing Counsel for the respondents is present. He stated that the petitioner may approach the respondents office in person with all the relevant documents. He had also confirmed that the capital subsidy would be released within a reasonable period of time.
4. The petitioner, however, demands interest. I would leave that it to 3/6
a discretion of the respondents. The Court is not granting any interest. This will not indicate that the respondents need not pay any interest. It is a decision the respondents have to take. In so far as the capital subsidy is concerned, if the petitioner is otherwise eligible, the respondents may release the capital subsidy. The entire exercise of the petitioner approaching the respondents and the respondents sanctioning the capital subsidy should be completed within a period of six weeks from the date of receipt of a copy of this order.
5. With the above observations, the writ petition stands disposed of. No costs. Consequently, connected writ miscellaneous petition is closed. 14.11.2024 Index:Yes/No Internet:Yes/No kj To 4/6
1. The Tamil Nadu Industrial Investment Corporation Limited, Represented by its Branch Manager, Sri Lakshmi Complex (1st floor), 4/22, Omalur main road, Swarnapuri, Salem-636 004.
2. The Tamil Nadu Industrial Investment Corporation Limited, No.692, Anna salai, Nandanam, Chennai-600 035.
C.V.KARTHIKEYAN,J.
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kj and W.M.P.No.36021 of 2024 14.11.2024 6/6