Siva Cotton Mills (India) Pvt v. The Reserve Bank Of India
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 09.06.2023
CORAM:
THE HONOURABLE MR.JUSTICE B.PUGALENDHI Siva Cotton Mills (India) Pvt. Ltd., Rep. by its Managing Director P.Nagarajan, having office at T.Kunnathur Post, Peraiyur Taluk, Madurai District.
... Petitioner versus
1. The Reserve Bank of India, Chennai.
2. The Board for Industrial and Financial Reconstruction (BIFR), Rep. by its Chairman, New Delhi.
3. The Principal Secretary, Chairman & Managing Director, State Industries Promotion Corporation of Tamilnadu Ltd. (SIPCOT), 19-A, Rukmani Lakshmipathy Road, 1/4
Post Box No.7223 Egmore, Chennai.
... Respondents Writ Petition filed under Article 226 of the Constitution of India, seeking for the issuance of Writ of Mandamus, to direct the 1st respondent to direct the 2nd and 3rd respondents to approve the OTS proposal of the petitioner Company by charging 8% interest as against 12% interest in the light of the guidelines of the 1st respondent as well as the Judgment of the Hon'ble Apex Court dated 31.07.2009 in Civil Appeal No.4970-71 of 2009 based on the representation dated 25.09.2017 within a time frame to be fixed by this Court. For Petitioner : Mr.B.Prahalad Ravi For R2 : Mr.C.Nandagopal, Central Govt. Standing Counsel
ORDER
The learned counsel appearing for the petitioner submits that the matter is settled out of Court and therefore, the matter has become infructuous. He has also made an endorsement to that effect. 2/4
2. In view of the said submission, this writ petition is dismissed as infructuous. No costs.
09.06.2023 ogy NCC : Yes / No.
Index : Yes / No.
Internet: Yes / No.
To
1. The Reserve Bank of India, Chennai.
2. The Board for Industrial and Financial Reconstruction (BIFR), Rep. by its Chairman, New Delhi.
3. The Principal Secretary, Chairman & Managing Director, State Industries Promotion Corporation of Tamilnadu Ltd. (SIPCOT), 19-A, Rukmani Lakshmipathy Road, Post Box No.7223 Egmore, Chennai.
3/4
B.PUGALENDHI, J.
ogy 09.06.2023 4/4