High Court granted two weeks time to petitioners to make a pre-deposit of Rs.15 crores before the Debts Recovery Appellate Tribunal, dismissing the writ petition without engaging with merits.
Two weeks time granted to the petitioners to make the deposit of Rs.15 crores.
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IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 10/1/2018
C O R A M
THE HONOURABLE MR.JUSTICE S.MANIKUMAR
A N D
THE HONOURABLE MRS.JUSTICE V.BHAVANI SUBBAROYAN
WRIT PETITION NO.631 OF 2018 1. Chokhani International Ltd rep. By its General Manager Mr.S.Chellappa A Company incorporated under The Companies Act, 1956 and having its registered office at Z-20 First Floor, Ohkla Industrial Area Phase II, New Delhi 110 020. 2. Shri Jagadish P.Chokhani ... Petitioners Vs 1. Industrial Development Bank of India a Corporation, established under the Industrial Development Bank of India Act, 1964 and having its Head Office at IDBI Tower Cuffe Parade Mumbai 400 005. Branch Office at 115 Anna Slai Saidapet, Chennai 600 015. 2. The Industrial Finance Corporation of India Ltd a Company incorporated under the Companies Act, 1956 and having its Registered Office at IFCI Tower, 61 Nehru Place New Delhi 110 019. and having its Regional Office at Continental Chambers 142 Uthamal Gandhi Salai Chennai 600 034. ... Respondents
Petition filed under Article 226 of the Constitution of India praying for the issuance of a writ of certiorari to call for the records pertaining to proceedings in I.A.No.1444/2017 in AIR No.496 of 2017 and the impugned order dated 14/12/2017 passed by the Hon'ble Debts Recovery Appellate Tribunal, Chennai, and quash the same and consequentially waive payment of Rs.15 crores ordered in I.A.No.1444 of 2017 in AIR No.496 of 2017.
Vide order, dated 14/12/2017, passed by the Debts Recovery Appellate Tribunal, Chennai, disposing of I.A.No.1444 of 2017, wherein the petitioners were directed to make pre-deposit of Rs.15 crores, with the Registrar of the Debts Recovery Appellate Tribunal, Chennai, within a period of four weeks, from the date of the said order.
Sub Assistant Registrar
mvs.
Chokhani International Ltd rep. By its General Manager Mr.S.Chellappa
Shri Jagadish P.Chokhani
Industrial Development Bank of India
The Industrial Finance Corporation of India Ltd
S.MANIKUMAR
V.BHAVANI SUBBAROYAN
As recorded by the court registry
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