SHAJI PURUSHOTHAMAN Vs. UNION OF INDIA
LAWS(MAD)-2020-1-510
HIGH COURT OF MADRAS
Decided on
January 30,2020
Shaji Purushothaman
Appellant
VERSUS
UNION OF INDIA
Respondents
Referred Judgements :-
P.T.RAJAN V. T.P.M.SAHIR AND OTHERS [REFERRED TO]DATTATRAYA MORESHWAR VS. STATE OF BOMBAY [REFERRED TO]
STATE OF UTTAR PRADESH MANBODHAN LAL SRIVASTAVA VS. MANBODHAN LAL SRIVAITAVA:STATE OF UTTAR PRADESH [REFERRED TO]
RAZA BULAND SUGAR CO LIMITED RAMPUR VS. MUNICINAL BOARD RAMPUR [REFERRED TO]
RAZA BULAND SUGAR CO LIMITED RAMPUR VS. MUNICINAL BOARD RAMPUR [REFERRED TO]
R C SHARMA VS. UNION OF INDIA [REFERRED TO]
SHARIF UD DIN VS. ABDUL GANI LONE [REFERRED TO]
STATE BANK OF PATIALA VS. S K SHARMA [REFERRED TO]
ANIL RAI VS. STATE OF BIHAR [REFERRED TO]
BHAVNAGAR UNIVERSITY VS. PALITANA SUGAR MILL PRIVATE LIMITED [REFERRED TO]
BALWANT SINGH VS. ANAND KUMAR SHARMA [REFERRED TO]
P T RAJAN VS. T P M SAHIR [REFERRED TO]
SALEM ADVOCATE BAR ASSOCIATION VS. UNION OF INDIA [REFERRED TO]
PESARA PUSHPAMALA REDDY VS. G VEERA SWAMY [REFERRED TO]
HYUNDAI MOTORS INDIA LTD. VS. UNION OF INDIA, MINISTRY OF FINANCE AND ORS. [REFERRED TO]
ARCELORMITTAL INDIA PRIVATE LIMITED VS. SATISH KUMAR GUPTA & ORS [REFERRED TO]
JUDGEMENT
M.SATHYANARAYANAN,J. -
(1.)The petitioner, who claims to be the suspended Managing Director of M/s.Empee Distilleries Limited, came forward to file this writ petition by
making a challenge to the common order passed by the National Company
Law Tribunal, Chennai dated 20.01.2020 made in MA/780/2019 and
MA/1250/2019 of CP/280/IB/2018.
(2.)The petitioner, in the affidavit filed in support of this writ petition, would aver among other things that a petition in CP/280/IB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016 [in short "IBC"] was filed by the 4th respondent, namely Union Bank of India (petitioning creditor) before the National Company Law Tribunal [in short "NCLT"] at Chennai. The petitioner would state that pendency of the said petition, a sum of Rs.50 lakhs was paid to the 4th respondent on 27.08.2018 and a further sum of Rs.50 lakhs was paid on 19.09.2018 and thereby reducing the total outstanding due with accumulated interest to a sum of Rs.9,18,20,789/- and it was also followed by very many requests to the 4th respondent to restructure the said debt.
(3.)NCLT, Chennai, vide order dated 01.11.2018 in CP/280/IB/2018 had initiated Corporate Insolvency Resolution Process in respect of the said company and moratorium was declared and an Interim Resolution Professional [IRP] was appointed and some orders were also passed. The said order, which was the subject matter before the National Company Law Appellate Tribunal [in short "NCLAT"] at New Delhi was also upheld, vide orders dated 29.03.2019 and 15.04.2019 respectively in CA(AT)(Insolv.)Nos.690/2018 and 742/2018 and Review Application Nos.07/2019 and 08/2019. The petitioner, challenging the legality of the said order, filed Special Leave Petition, which was entertained and converted as Civil Appeal and vide order dated 14.06.2019 in Civil Appeal Diary No.20571 of 2019, taking note of the submission that the petitioner is ready and willing to clear the outstanding dues of the secured creditor / 4 th respondent herein within a period of 15 days, time has been granted and accordingly, liberty was granted to move the NCLT within a period of two weeks from the date of the order in terms of the said request with a further direction to NCLT to consider and decide the same expeditiously in accordance with law.
(2.)The petitioner, in the affidavit filed in support of this writ petition, would aver among other things that a petition in CP/280/IB/2018 under Section 7 of the Insolvency and Bankruptcy Code, 2016 [in short "IBC"] was filed by the 4th respondent, namely Union Bank of India (petitioning creditor) before the National Company Law Tribunal [in short "NCLT"] at Chennai. The petitioner would state that pendency of the said petition, a sum of Rs.50 lakhs was paid to the 4th respondent on 27.08.2018 and a further sum of Rs.50 lakhs was paid on 19.09.2018 and thereby reducing the total outstanding due with accumulated interest to a sum of Rs.9,18,20,789/- and it was also followed by very many requests to the 4th respondent to restructure the said debt.
(3.)NCLT, Chennai, vide order dated 01.11.2018 in CP/280/IB/2018 had initiated Corporate Insolvency Resolution Process in respect of the said company and moratorium was declared and an Interim Resolution Professional [IRP] was appointed and some orders were also passed. The said order, which was the subject matter before the National Company Law Appellate Tribunal [in short "NCLAT"] at New Delhi was also upheld, vide orders dated 29.03.2019 and 15.04.2019 respectively in CA(AT)(Insolv.)Nos.690/2018 and 742/2018 and Review Application Nos.07/2019 and 08/2019. The petitioner, challenging the legality of the said order, filed Special Leave Petition, which was entertained and converted as Civil Appeal and vide order dated 14.06.2019 in Civil Appeal Diary No.20571 of 2019, taking note of the submission that the petitioner is ready and willing to clear the outstanding dues of the secured creditor / 4 th respondent herein within a period of 15 days, time has been granted and accordingly, liberty was granted to move the NCLT within a period of two weeks from the date of the order in terms of the said request with a further direction to NCLT to consider and decide the same expeditiously in accordance with law.
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