Madras High Court
Servalakshmi Paper Limited vs Indian Overseas Bank on 10 March, 2023
Author: S.M.Subramaniam
Bench: S.M.Subramaniam
W.P.No.5462 of 2016
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 10.03.2023
CORAM :
THE HON'BLE MR.JUSTICE S.M.SUBRAMANIAM
W.P.No.5462 of 2016
Servalakshmi Paper Limited
Public Limited Company
Having its Registered Office at
S.F.No.539, 568, 569 and 570
Kodanganallur Village
Vadugampatti Post, I.C.Pettai
Tirunelveli – 627 010. .. Petitioner
vs
1. Indian Overseas Bank
having its registered office at
762, Anna Salai
Chennai – 600 002.
and Branch office interalia at
Large Corporate Branch
No.10, Kannusamy Street
R.S.Puram, Coimbatore – 02.
2. Bank of India
Having its Head Office at
Star House, C-5, “G” Block
Bandra – Kurla Complex
Bandra (East), Mumbai – 400 051.
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W.P.No.5462 of 2016
having its Branch Office interalia at
Mid Corporation Banking Branch
1st Floor, Chamber Towers
8/732, Avanashi Road
Coimbatore – 641 018.
3. State Bank of India
having its Head Office at
No.6, College Lane
Nungambakkam
Chennai – 600 006.
4. Corporate Debt Restructuring Cell
IDBI Tower, 19th Floor
Cuffa Parade
Mumbai – 400 005.
5. The Chairman
Corporate Debt Restructuring Core Group
IDBI Tower, 19th Floor
Cuffa Parade
Mumbai – 400 005.
6. Corporate Debt Restructuring Empowered Group
having its office at
IDBI Tower, 19th Floor
Cuffa Parade, Mumbai – 400 005.
7. M/s.Pridhivi Assets Reconstruction and Securitization
Company Limited
Door No.1-55, 4th Floor
Wing I, Plot 6, 6A & 6B
Raja Praasadamu, Majid Banda Road
Kondapur, Hyderabad – 500 084.
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W.P.No.5462 of 2016
8. Reserve Bank of India
Department of Banking Supervision
Fort Glacias, No.16, Rajaji Salai
Chennai – 600 001. .. Respondents
Prayer: Petition filed under Article 226 of the Constitution of India praying
for a writ of Certiorarified Mandamus, calling for the records connected with
the order reference CDR(PM)No.396/2015-16 dated 12.10.2015 of the CDR
Core Group directing exit of the petitioner from the CDR package, quash the
same and consequently direct the respondents to implement the CDR
Package in entirety in relation to the petitioner within a time frame to be set
by this Hon'ble Court.
For the Petitioner : Ms.A.Saranya
for M/s.Iyer and Thomas
For the Respondents : Mr.V.Kadhirvel
for respondent 1
Mr.KMC.Arunmokan
for Mr.S.Sathiya Narayanan
for respondent 2
Ms.Aishwarya Nathan
for Mr.T.K.Bhaskar
for respondent 7
No representation
for respondents 3 to 6 & 8
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W.P.No.5462 of 2016
ORDER
The learned counsel for the petitioner made a submission that the petitioner Company had already gone into liquidation and thus, no further adjudication is needed to be undertaken. Accordingly, the writ petition stands closed. There will be no order as to costs.
Index : Yes/No 10.03.2023 Neutral Order:Yes/No drm To:
1. Indian Overseas Bank having its registered office at 762, Anna Salai Chennai – 600 002.
and Branch office interalia at Large Corporate Branch No.10, Kannusamy Street R.S.Puram, Coimbatore – 02.
2. Bank of India Having its Head Office at Star House, C-5, “G” Block Bandra – Kurla Complex Bandra (East), Mumbai – 400 051.
having its Branch Office interalia at ___________ Page 4 of 7 https://www.mhc.tn.gov.in/judis W.P.No.5462 of 2016 Mid Corporation Banking Branch 1st Floor, Chamber Towers 8/732, Avanashi Road Coimbatore – 641 018.
3. State Bank of India having its Head Office at No.6, College Lane Nungambakkam Chennai – 600 006.
4. Corporate Debt Restructuring Cell IDBI Tower, 19th Floor Cuffa Parade Mumbai – 400 005.
5. The Chairman Corporate Debt Restructuring Core Group IDBI Tower, 19th Floor Cuffa Parade Mumbai – 400 005.
6. Corporate Debt Restructuring Empowered Group having its office at IDBI Tower, 19th Floor Cuffa Parade, Mumbai – 400 005.
7. M/s.Pridhivi Assets Reconstruction and Securitization Company Limited Door No.1-55, 4th Floor Wing I, Plot 6, 6A & 6B Raja Praasadamu, Majid Banda Road Kondapur, Hyderabad – 500 084.
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8. Reserve Bank of India Department of Banking Supervision Fort Glacias, No.16, Rajaji Salai Chennai – 600 001.
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(drm) W.P.No.5462 of 2016 10.03.2023 ___________ Page 7 of 7 https://www.mhc.tn.gov.in/judis