{"id":241613,"date":"2010-09-14T00:00:00","date_gmt":"2010-09-13T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/krishna-siddha-anr-vs-m-p-financial-corporation-ltd-on-14-september-2010"},"modified":"2018-03-11T15:28:41","modified_gmt":"2018-03-11T09:58:41","slug":"krishna-siddha-anr-vs-m-p-financial-corporation-ltd-on-14-september-2010","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/krishna-siddha-anr-vs-m-p-financial-corporation-ltd-on-14-september-2010","title":{"rendered":"Krishna Siddha & Anr. vs M.P. Financial Corporation Ltd. & … on 14 September, 2010"},"content":{"rendered":"
Madhya Pradesh High Court<\/div>\n
Krishna Siddha & Anr. vs M.P. Financial Corporation Ltd. & … on 14 September, 2010<\/div>\n
                    Writ Petition No.4579\/1999\n\n14.9.2010\n\n      None for the petitioner even in the second round.\n\n      Shri Abhishek Gulati, learned counsel for respondents.<\/pre>\n
      The petitioner by way of present petition seeks following<\/p>\n
directions:\n<\/p>\n<\/p>\n
    (i)       That, this Hon’ble Court may be pleased to call
\n              the entire material record in possession to the
\n              respondent corporation leading to the alleged take
\n              over of the Factory unit by the respondent
\n              Corporation, and advertisement for sale of the
\n              same. So also the record of communications with
\n              regard to restarting of the factory unit as
\n              transpired between the parties with special
\n              reference to M.P.E.B., MPSIDC etc. be also
\n              summoned.\n<\/p><\/blockquote>\n
    (ii)      That, this Hon’ble Court be pleased to issue a unit
\n              in the nature of certiorari quashing the impugned
\n              communications (Annexure P\/1 and P\/2) and the
\n              impugned newspaper advertisement (Annexure
\n              P\/3).\n<\/p><\/blockquote>\n
    (iii)     That this Hon’ble Court be pleased to issue a writ
\n              in the nature of mandamus directing the
\n              respondent corporation to restore the possession
\n              of the petitioners on the factory unit in question
\n              forthwith or in the alternative return the entire
\n              sum paid by the petitioners to the respondent
\n              corporation with interest at the rate of 18%
\n                                  2<\/span><\/p>\n
            thereof from the respective dates of their payment,
\n            until their realization by the petitioners.\n<\/p><\/blockquote>\n
    (iv)    That, this Hon’ble Court be pleased to issue a writ
\n            in the nature of prohibition restraining to the
\n            respondent corporation from crating third party
\n            interest in the factory unit in question without
\n            settling the claim of the petitioners.\n<\/p><\/blockquote>\n
    (v)     That, this Hon’ble Court be pleased to issue a writ
\n            in the nature of mandamus directing detailed
\n            enquiry in the matter by an appropriate
\n            independent authority so that erring officials be
\n            identified and appropriate action be taken against
\n            them.\n<\/p><\/blockquote>\n
    (vi)    That, this Hon’ble Court be pleased to award    an
\n            appropriate compensation to the petitioners     for
\n            victimizations, harassment suffered by them      at
\n            the hands of respondent corporation and         its
\n            authorities\/officials, and may the same          be
\n            directed to be recovered personally from such   an
\n            official\/authorities.\n<\/p><\/blockquote>\n
    (vii)   Any other relief\/reliefs that this Hon’ble Court be
\n            deem fit and proper in the facts and
\n            circumstances be also granted in favour of the
\n            petitioners.\n<\/p><\/blockquote>\n
    (viii) Cost of theinstant litigation be also awarded in
\n           favour of the petitioners.<\/p><\/blockquote>\n
      During the pendency of this petition, this Court on<\/p>\n
4.4.2002 passed the following order<\/p>\n
    “Petitioners may file proposal of re-schedulement of the<\/p>\n
    liabilities within ten days which may be considered
\n                                     3<\/span><\/p>\n
    within four weeks and the outcome of the same shall be<\/p>\n
    informed to this Court at the time or before final<\/p>\n
    hearing. In case petitioners do not want to retain the<\/p>\n
    Unit, they may also give such an offer to MPFC which<\/p>\n
    may be considered by MPFC. MPFC is also at liberty in<\/p>\n
    case   petitioners    express       their   willingness   not   to<\/p>\n
    continue with the ownership of Unit in question to find<\/p>\n
    out the purchaser.”\n<\/p>\n
\n      Thereafter when the matter was taken up on 3.3.2003,<\/p>\n
the following order was recorded<\/p>\n
    “This Court as per order dated 4.4.2002 directed the<\/p>\n
    petitioners to submit a proposal of re-schedulement of<\/p>\n
    the liabilities   within   ten      days which was to be<\/p>\n
    considered within next four weeks by the respondents.<\/p>\n
           Shri Manoj Sharma, learned counsel appearing<\/p>\n
    for petitioners states that petitioners were not in a<\/p>\n
    position to submit any proposal as such the MPFC was<\/p>\n
    asked to proceed with the sale and find out a purchaser.<\/p>\n
    MPFC    has   filed   an   application       dated   13.11.2002<\/p>\n
    pointing out that petitioners sent letter dated 18.6.2002<\/p>\n
    expressing their unwillingness not to continue with the<\/p>\n
    ownership of the unit in question.             No proposal was
\n                                  4<\/span><\/p>\n
    submitted within the time as envisaged in the order<\/p>\n
    dated 4.4.2002. Petitioners have claimed refund of the<\/p>\n
    amount deposited by them. The sale advertisement of<\/p>\n
    the industrial unit was published in the newspaper<\/p>\n
    dated 24.8.2002, three offers were received by the<\/p>\n
    respondents, respondents received the best offer of<\/p>\n
    Rs.20 Lacs payable on cash down basis for the plant<\/p>\n
    and machineries only. No suitable offer was received for<\/p>\n
    the industrial plot and the factory, as per report dated<\/p>\n
    27.9.2001 of the Deputy Manager (Technical) the<\/p>\n
    realizable market value of the plant and machineries of<\/p>\n
    the unit is Rs.20 lacs.\n<\/p>\n<\/p>\n
            Counsel for the petitioners has no objection if the<\/p>\n
    respondents are allowed to negotiate the deal and make<\/p>\n
    the sale of the plant and machineries for a sum of Rs.20<\/p>\n
    lacs.\n<\/p>\n<\/p>\n
            Statement is placed on record.\n<\/p>\n
\n            Respondents may proceed with the sale of the<\/p>\n
    unit in accordance with law.\n<\/p>\n
\n      After passing of the aforesaid order no one appeared in<\/p>\n
the matter for the petitioner as is evident from the order sheet<\/p>\n
dated 28.9.205. On 30.11.2005, Shri Swapnil Ganguly, learned
\n                                                   5<\/span><\/p>\n
                 counsel for the petitioner appeared and sought time to collect<\/p>\n
                 the information about the status of the petitioner. Thereafter,<\/p>\n
                 when the matter was taken up on 28.4.2010, it was stated on<\/p>\n
                 behalf of petitioner by Shri Parag Tiwari, learned counsel that<\/p>\n
                 the file has been misplaced from his office.<\/p>\n
                       Today when the matter is taken up for hearing, no one is<\/p>\n
                 appearing for the petitioner.\n<\/p>\n<\/p>\n
                       It appears that after 3.3.2003 whereby the respondents<\/p>\n
                 were permitted to proceed with the sale of Unit in accordance<\/p>\n
                 with law, no substantial cause survived as would have caused<\/p>\n
                 the petitioner to take interest in the matter. Moreover, by giving<\/p>\n
                 permission to the respondents to sell Unit, no relief can now be<\/p>\n
                 granted as is being sought in the present petition.<\/p>\n
                       The petition is, therefore, dismissed having been rendered<\/p>\n
                 infructuous. No costs.\n<\/p>\n<\/p>\n
                                                          (SANJAY YADAV)
\n                                                             JUDGE
\nVivek Tripathi\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Madhya Pradesh High Court Krishna Siddha & Anr. vs M.P. Financial Corporation Ltd. & … on 14 September, 2010 Writ Petition No.4579\/1999 14.9.2010 None for the petitioner even in the second round. Shri Abhishek Gulati, learned counsel for respondents. The petitioner by way of present petition seeks following directions: (i) That, this Hon’ble Court may […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,24],"tags":[],"class_list":["post-241613","post","type-post","status-publish","format-standard","hentry","category-high-court","category-madhya-pradesh-high-court"],"yoast_head":"\nKrishna Siddha & Anr. vs M.P. 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