{"id":5364,"date":"2006-03-14T00:00:00","date_gmt":"2006-03-13T18:30:00","guid":{"rendered":"https:\/\/www.legalindia.com\/judgments\/g-kathirvel-vs-tamil-nadu-industrial-investment-on-14-march-2006"},"modified":"2015-04-30T11:35:56","modified_gmt":"2015-04-30T06:05:56","slug":"g-kathirvel-vs-tamil-nadu-industrial-investment-on-14-march-2006","status":"publish","type":"post","link":"https:\/\/www.legalindia.com\/judgments\/g-kathirvel-vs-tamil-nadu-industrial-investment-on-14-march-2006","title":{"rendered":"G.Kathirvel vs Tamil Nadu Industrial Investment on 14 March, 2006"},"content":{"rendered":"<div class=\"docsource_main\">Madras High Court<\/div>\n<div class=\"doc_title\">G.Kathirvel vs Tamil Nadu Industrial Investment on 14 March, 2006<\/div>\n<pre>       \n\n  \n\n  \n\n \n \n BEFORE THE MADURAI BENCH OF THE MADRAS HIGH COURT\n\n\nDATED: 14\/03\/2006\n\n\nCORAM:\nTHE HONOURABLE MR.JUSTICE P.JYOTHIMANI\n\n\nW.P.No.3082 of 2006\nand\nW.P.M.P.Nos.3174 of 2005\nand\nW.V.M.P.No.3 of 2006\n\t\n\n1. G.Kathirvel\n2. G.Amudha\t\t\t.. \tPetitioners\t\t\t\n\n\nVs.\t\n\n\nTamil Nadu Industrial Investment\nCorporation Limited,\nrepresented by its Branch Manager,\nMena complex 1st Floor,\nWest Main Street,\nPudukkottai - 622 001.\t\t.. \tRespondent\n\n\nPRAYER\n\n\nWrit Petition filed under Article 226 of the Constitution of India,\npraying for the issuance of a Writ of Certiorari, to call for the records\nrelating to the public auction notice issued by the respondent and received by\nthe petitioners on 15.02.2205 for the sale of the land of the second petitioner\nand quash the same.\n\n\n!For Petitioners   \t...\tMr.S. Natarajan\n\n\n^For Respondent\t\t...\tMr.Jayesh B.Dolia\n\n\t\t\t\t\t\n\n:ORDER\n<\/pre>\n<p>\t Heard Mr.S.Natarajan, the learned counsel appearing for the petitioners<br \/>\nand Mr. Jayesh B.Dolia, the learned counsel appearing for the respondent. By<br \/>\nconsent of both counsel, the writ petition itself is taken up for final hearing.\n<\/p>\n<p>\t2. This writ petition is filed challenging the auction notice of the<br \/>\nrespondent dated 15.02.2005 issued under Section 29 of the State Financial<br \/>\nCorporation Act for the sale of property belonging to the petitioner, which was<br \/>\ngiven as collateral security for the loan availed by the petitioner from the<br \/>\nrespondent.\n<\/p>\n<p>\t3.The respondent has filed a counter.  In paragraph 12 of the counter, the<br \/>\nrespondent has specifically stated that one time settlement was sanctioned to<br \/>\nthe petitioner by the respondent under the New ND &amp; ND Scheme and on the basis<br \/>\nof that, the entire outstanding interest amounting to Rs.13,27,689.90 was waived<br \/>\nand the petitioner was requested to pay a sum of Rs.1,61,641.15 being the<br \/>\nPrincipal outstanding amount  and all these amount was directed to be paid on or<br \/>\nbefore 31.03.2005.\n<\/p>\n<p>\t4.Mr.S.Natarajan, learned counsel appearing for the petitioners would<br \/>\nsubmit that there was fire accident in the industry, which caused damage to the<br \/>\nmaterials and machineries and hence, leniency may be given for which learned<br \/>\ncounsel also relied upon the order passed by the Principal Bench of this Court<br \/>\nin W.P.Nos.27404 and 1673 of 2003 and W.P.No.27404 of 2005 dated 01.03.2006 in<br \/>\nwhich applying the guidelines issued by the Reserve Bank of India, the Principal<br \/>\nBench directed the petitioner therein to pay the amount of Rs.5,00,000\/- and<br \/>\nthen make a representation to the respondent for the purpose of payment of the<br \/>\nremaining amount under the Reserve Bank of India One Time Settlement Scheme.\n<\/p>\n<p>\t5.However, the learned counsel for the respondent would submit that the<br \/>\nReserve Bank of India Scheme is not applicable as far as respondent is concerned<br \/>\nand hence, such concession cannot be given.  According to the respondent,  the<br \/>\nScheme had come to a close on 31.03.2005 itself and therefore, the entire amount<br \/>\nmust have been paid on or before 31.03.2005.  The concession given in paragraph<br \/>\n12 of the counter affidavit, as stated above, will be operative till 31.3.2006,<br \/>\nif the petitioner pays the said amount stipulated in para 12 stated above.\n<\/p>\n<p>\t6.Considering the facts and circumstances of the case, I am of the view<br \/>\nthat the petitioners shall be directed to pay 50% of the claim amount on or<br \/>\nbefore 31.03.2006 before the respondent and the remaining amount may be directed<br \/>\nto be paid in another instalment.\n<\/p>\n<p>\t7.In view of the same, accepting the contention in para 12 of the counter<br \/>\naffidavit filed by the respondent stating that the respondent shall receive the<br \/>\namount of Rs.1,61,641.15 along with interest at the rate of 11% from 01.11.2005,<br \/>\nas stated above,\tthe petitioner is directed to pay 50% of the claim amount of<br \/>\nRs.1,61,641.15 to the respondent on or before 31.03.2006.  Thereafter, the<br \/>\nbalance amount shall be paid by the petitioner within a period of three months<br \/>\nfrom 31.03.2006.  The non-payment of any one of the said amount will entitle the<br \/>\nrespondent to make the claim in accordance with law.\n<\/p>\n<p>\t6. With the above direction, the writ petition is disposed of. There is no<br \/>\norder as to costs. Consequently, connected W.P.M.Ps. are closed.\n<\/p>\n<p>mpk<\/p>\n<p>To<\/p>\n<p>Tamil Nadu Industrial Investment<br \/>\nCorporation Limited,<br \/>\nrepresented by its Branch Manager,<br \/>\nMena complex 1st Floor,<br \/>\nWest Main Street,<br \/>\nPudukkottai &#8211; 622 001.\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Madras High Court G.Kathirvel vs Tamil Nadu Industrial Investment on 14 March, 2006 BEFORE THE MADURAI BENCH OF THE MADRAS HIGH COURT DATED: 14\/03\/2006 CORAM: THE HONOURABLE MR.JUSTICE P.JYOTHIMANI W.P.No.3082 of 2006 and W.P.M.P.Nos.3174 of 2005 and W.V.M.P.No.3 of 2006 1. G.Kathirvel 2. G.Amudha .. Petitioners Vs. Tamil Nadu Industrial Investment Corporation Limited, represented by [&hellip;]<\/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":[8,13],"tags":[],"class_list":["post-5364","post","type-post","status-publish","format-standard","hentry","category-high-court","category-madras-high-court"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>G.Kathirvel vs Tamil Nadu Industrial Investment on 14 March, 2006 - Free Judgements of Supreme Court &amp; High Court | Legal India<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legalindia.com\/judgments\/g-kathirvel-vs-tamil-nadu-industrial-investment-on-14-march-2006\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"G.Kathirvel vs Tamil Nadu Industrial Investment on 14 March, 2006 - Free Judgements of Supreme Court &amp; 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