Madras High CourtWP(MD)/12578/2020disposed of

P.Ravichandran v. The Blessing Agro Farm India Ltd.,

2023-10-04Honourable Mr Justice N. Anand Venkatesh4 pages

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 04.10.2023

CORAM

THE HONOURABLE MR. JUSTICE N.ANAND VENKATESH and W.M.P.(MD)No.16514 of 2020 P.Ravichandran .. Petitioner

Versus

1.The Blessing Agro Farm India Limited, Rep. By its Managing Director, Mr.Joseph Jeyaraj, S/o.I.Lourdu Pillai, Having Office at No.1-K and 1-E Kajiyar Complex, North Gate, S.S. Colony, Madurai - 625 010.

2.The Securities & Exchange Board of India (SEBI), Rep. By its General Manager, South Regional Office, Overseas Towers, 7th Floor, Anna Salai, Chennai - 600 002.

3.The Registrar and Recovery Officer, Securities & Exchange Board of India, Overseas Towers, 7th Floor, 756-L, Anna Salai, Chennai - 02.

4.B.Sathrukannan, The Administrator in the matter of BAFIL, Blessing Agro Farm India Limited, No.9A/1, Ramaraj Mansion, First Floor, N.G.R. Street, K.K.Pudur Post, Coimbatore - 641 038.

.. Respondents 1/4

Prayer:- Writ Petition filed under Article 226 of the Constitution of India praying to issue a Writ of Mandamus, directing the respondents 2 to 4 to disburse a sum of Rs.22,27,323/- [Rupees Twenty Two Lakhs Twenty Seven Thousand Three Hundred and Twenty Three only] along with interest 18% p.a. from 25.01.2020 till the date of realization of the amount pursuant to the petitioner's representation, dated 25.01.2020, within a time frame to be stipulated by this Court.

For Petitioner :

Mr.A.Sivaji For R1 :

Mr.S.Ram Sundar Vijay Raj For R2 :

Mr.C.Prasanna Venkatesh

ORDER

This Writ Petition has been filed for issuance of Writ of Mandamus, directing the respondents 2 to 4 to disburse a sum of Rs.22,27,323/- [Rupees Twenty Two Lakhs Twenty Seven Thousand Three Hundred and Twenty Three only] along with interest based on the representation made by the petitioner on 25.01.2020.

2. When the matter was taken up for hearing today, the learned Standing Counsel appearing on behalf of the Securities and Exchange Board of India [SEBI] submitted that pursuant to the order passed by this Court in W.P. (MD)No.16136 of 2019, dated 19.12.2022, the entire amount has been deposited before the TNPID Court, Madurai.

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3. In view of the above, it is left open to the petitioner to approach the TNPID Court, Madurai and work out his remedy, seeking for withdrawal of the amount.

4. This Writ Petition is disposed of accordingly. No costs. Consequently, connected Miscellaneous Petition is closed. NCC : Yes/No 04.10.2023 Index : Yes/No smn2 To 1.The General Manager, Securities & Exchange Board of India (SEBI), South Regional Office, Overseas Towers, 7th Floor, Anna Salai, Chennai - 600 002.

2.The Registrar and Recovery Officer, Securities & Exchange Board of India, Overseas Towers, 7th Floor, 756-L, Anna Salai, Chennai - 02.

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N.ANAND VENKATESH, J.

smn2 W.P.(MD) No.12578 of 2020 and W.M.P.(MD)No.16514 of 2020 04.10.2023 4/4