State Consumer Disputes Redressal Commission
Shri Jinratna Ganpatrao Rote And Ors. vs Shri Chandraprabhu Nagari Sahakari Pat ... on 4 March, 2015
BEFORE THE HON'BLE STATE CONSUMER DISPUTES REDRESSAL
BEFORE THE HON'BLE STATE CONSUMER DISPUTES REDRESSAL
COMMISSION, MAHARASHTRA, MUMBAI [CIRCUIT BENCH AT KOLHAPUR]
First Appeal No. A/10/128
(Arisen out of Order Dated
21/12/2009 in Case No. 387/09 of District Kolhapur)
1.Shri Jinratna Ganpatrao Rote r/o friends colony, Shivaji Park, KOLHAPUR Maharastra ...........Appellant(s) Versus
1. Shri Chandraprabhu Nagari Sahakari Pat Sanstha Ltd.
2057-C, Shaniwar Peth, Kolhapur.
Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) First Appeal No. A/10/129 (Arisen out of Order Dated 21/12/2009 in Case No. 394/09 of District Kolhapur)
1. Shri. Jinratna Ganpatrao Rote R/o. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra
2. Sou. Sunita Jinratna Rote R/o. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabu Nagari Sahakari Patsanstha Ltd.
2057, C Shaniwar Peth, Kolhapur Kolhapur Maharashtra ...........Respondent(s) First Appeal No. A/10/130 (Arisen out of Order Dated 21/12/2009 in Case No. 392/2009 of District Kolhapur)
1. Shri. Jinratna Ganpatrao Rote R.o. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra
2. Sou. Sunita Jinratna Rote R/o. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabu Nagari Sahakari Patsanstha Ltd.
2057, C. Shaniwar Peth, Kolhapur thorugh Kolhapur Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) First Appeal No. A/10/131 (Arisen out of Order Dated 21/12/2009 in Case No. 388/09 of District Kolhapur)
1. Shri. Jinratna Ganpatrao Rote R.O. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabu Nagari Sahakari Patsanstha Ltd., 2057, C Shaniwar Peth, Kolhapur, through Kolhapur Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) First Appeal No. A/10/132 (Arisen out of Order Dated 21/12/2009 in Case No. 389/09 of District Kolhapur)
1. Shri. Uday Ganpatrao Rote R.O. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2507, C, Shaniwar Peth, Kolhapur Through Kolhapur Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) First Appeal No. A/10/133 (Arisen out of Order Dated 21/12/2009 in Case No. 390/2009 of District Kolhapur)
1. Shri. Uday Ganpatrao Rote R.O. Frinedns Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2507, C, Shaniwar Peth, Kolhapur Through Maharastra
2. Shri. Vilas Dhanpal Nille R/o. 517 E, Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra
3. Shri. Gunvant Baburao Rote R/o. 517 E, Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra
4. Shri. Ajit Padmgonda Patil R/o. Opp. Jain Mandir, Nagaon, Tal. Hatkanangle, Dist. Kolhapur Kolhapur Maharashtra
5. Shri. Anand Ganpatrao Patane R/o. Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road, Kolhapur Kolhapur Maharashtra
6. Shri. Manohar Thalu Palake R/o. 15/A, Ayodhya Colony, (Randive Colony), Line Bazar, Drainage Road, Kolhapur Kolhapur Maharashtra
7. Smt. Nirmala Shrimandhar Mug R/o. Behind Private High School, Khasbag, Kolhapur Kolhapur Maharashtra
8. Shri. Rajendra Babaso Patil R/o. Near Swami Hotel, Opp. Ratnakar Bank, Shahupuri, Kolhapur Kolhapur Maharashtra
9. Shri. Surehs Annaso Magdum R/o. Agrawal-Magdum Asociates, A-4, Om Plaza, Konda Lane, Kolhapur Kolhapur Maharashtra
10. Smt.Shalan Surendra Bombade R/o. Ward No. 10, Opp.
Dr. Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkaranji, Tal. Hatkanangle, Dist. Kolhapur Kolhapur Maharashtra
11. Shri. Vijayrao Dashrath Kognole R/o. Manstambh, Near Digamber Jain Mandir, Gangavesh, Kolhapur Kolhapur Maharashtra ...........Respondent(s) First Appeal No. A/10/134 (Arisen out of Order Dated 21/12/2009 in Case No. 391/2009 of District Kolhapur)
1. Shri. Uday Ganpatrao Rote R.O. Friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2507, C, Shaniwar Peth, Kolhapur Through Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) First Appeal No. A/10/135 (Arisen out of Order Dated 21/12/2009 in Case No. 393/2009 of District Kolhapur)
1. Shri. Uday Ganpatrao Rote R.O. Ruiekar Colony, Shivaji Park, Kolhapur Kolhapur
2. Sou.Sujata Uday Rote R/o. As above.
...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2057, C, Shaniwar Peth, Kolhapur Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
Maharashtra ...........Respondent(s) First Appeal No. A/10/136 (Arisen out of Order Dated 21/12/2009 in Case No. 461/2009 of District Kolhapur)
1. Shri. Uday Ganpat Rote R.O. Ruiekar Colony Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2507, C, Shaniwar Peth, Kolhapur Through Maharastra Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Gunvant Baburao Rote R/o.As above.
4. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
5. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
6. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
7. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
8. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
9. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
10. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
11. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) First Appeal No. A/10/137 (Arisen out of Order Dated 21/12/2009 in Case No. 430/2009 of District Kolhapur)
1. Shri. Gunvant Baburao Rote R.O. Ruiekar Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2507, C, Shaniwar Peth, Kolhapur Through Maharastra
2. Shri. Vilas Dhanpal Nille R/o. 517 E, friends Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra
3. Shri. Ajit Padmgonda Patil R/o. Opp. Jain Mandir, Nagaon, Tal. Hatkanangle, Dist. Kolhapur Kolhapur Maharashtra
4. Shri. Anand Ganpatrao Patane R/o. Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road, Kolhapur Kolhapur Maharashtra
5. Shri. Manohar Thalu Palake R/o. 15/A, Ayodhya Colony, (Randive Colony), Line Bazar, Drainange Road, Kolhapur Kolhapur Maharashtra
6. Smt. Nirmala Shrimandhar Mug R/o. Behind Private High school, Khasbag, Kohapur Kolhapur Maharashtra
7. Shri. Rajendra Babaso Patil R/o. Near Swami Hotel,Opp. Ratnakar Bank, Shahupuri, Kolhapur Kolhapur Maharashtra
8. Shri. Suresh Annaso Magdum R/o. Agrawal-Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur Kolhapur Maharashtra
9. Smt. Shalan Surendra Bombade R/o. Ward No. 10, Opp.
Dr. Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkaranji, Tal. Hatkanangle, Dist. Kolhapur Kolhapur Maharashtra
10. Shri. Vijayrao Dashrath Kognole R/o. Manstambh, Near Digamber Jain Mandir, Gangavesh, Kolhapur Kolhapur Maharashtra ...........Respondent(s) First Appeal No. A/10/138 (Arisen out of Order Dated 21/12/2009 in Case No. 429/2009 of District Kolhapur)
1. Shri. Gonvant Baburao Rote R.O. Ruiekar Colony, Shivaji Park, Kolhapur Kolhapur Maharashtra ...........Appellant(s) Versus
1. Shri. Chandraprabhu Nagari Sahakari Patsanstha Ltd., 2507, C, Shaniwar Peth, Kolhapur Through Kolhapur Maharastra Through
2. Shri Vilash Dhanpal Nille R/o.517, E, Friends Colony, Shivaji Park, Kolhapur.
3. Shri Ajit Padmgonda Patil, R/o.Opp. Jain Mandir, Nagaon, Tal.Hatkangale, Dist.Kolhapur.
4. Shri Anand Ganpatrao Patane R/o.Anand Stores, Prandekar Mansion, Gujari Corner, Mahadwar Road.
5. Shri Manohar Thalu Palake, R/o.15/A, Ayodhya Colony, (Randive Colony) Line Bazar, Drainage Road, Kolhapur.
6. Smt.Nirmala Shrimandhar Moog R/o.Behind Private Highschool, Khasbag, Kolhapur.
7. Shri Rajendra Babaso Patil R/o.Near Swami Hotel, Opp.Ratnakar Bank, Shahupuri, Kolhapur.
8. Shri Suiresh Annaso Magdum R/o. Agarwal Magdum Associates, A-4, Om Plaza, Konda Lane, Kolhapur.
9. Smt.Shalan Surendra Bombade R/o.Ward No.10, Opp.Dr.Chougle Hospital, Bagadi Galli, Kalanagar, Ichalkarnji, Tal.Hatkangale, Dist.Kolhapur.
10. Shri Vijayrao Dashrath Kognole, R/o.Manstambh, Near Digambar Jain Mandir, Gangavesh, Kolhapur.
...........Respondent(s) BEFORE:
JUSTICE R. C. Chavan PRESIDENT Narendra Kawde MEMBER For the Appellant:
Adv.Umesh Mangave For the Respondent:
Adv.Uday Wavikar for the respondent no.2, 4, 6, 7 & 10 in A/10/128 to 136 and for the respondent no.2, 3, 5, 6 & 9 in A/10/137 & A/10/138.
Adv.R.R.Wayangankar for the respondent no.3 in A/10/128 to A/10/136 and for the appellants in A/10/137 & A/10/138. Respondent no.2-Vilas Dhanpal Nille also present in person.
COMMON ORDER Per Mr.Narendra Kawde, Member [1] All these appeals have been preferred against the order dated 21/12/2009 in consumer complaint Nos. 387/09 to 394/09, 429/09, 430/09 and 461/09 decided by the learned District Consumer Disputes Redressal Forum, Kolhapur [hereinafter to be referred to as to District Forum] allowing the consumer complaints with directions to the opponent no.1 to 11 jointly to pay against the fixed deposit receipts to the complainants along with interest @3.5% p.a. from the date shown in the table at page no.9 of the impugned order.
Further, the opponent no.1 to 11 have been ordered to pay individually and collectively an amount of Rs.1,000/- for mental agony and Rs.1,000/- towards the costs of litigation. Aggrieved by the order, the present appeals have been filed on the ground that prayers of the complainant for seeking directions against the individual directors for settling the dues against fixed deposit receipts have not been considered and instead directions have been given to make the payment by all the opponents jointly and mentioning the individual liability of the directions.
Therefore, as stated in the appeals, the impugned order resulted into decision miscarriage of justice.
All the appellants now have prayed for directions to modify the impugned order and fix up the personal liability against the respondents/original opponents for making payment to the appellants.
[2] Since all the appeals are against same opponents, through filed by appellants separately, we have heard collectively and are disposed off by this common order.
[3] Heard learned counsel Mr.Umesh Mangave for the appellants, learned counsel Mr.Uday Wavikar for the respondent no.2, 4, 6, 7 & 10 in A/10/128 to 136 and for the respondent no.2, 3, 5, 6 & 9 in A/10/137 & A/10/138 and learned counsel Mr.R.R.Wayangankar for the respondent no.3 in A/10/128 to A/10/136 and for the appellants in A/10/137 & A/10/138.
[4] On behalf of the appellants, it is pleaded that all the opponents have failed to carry out administration of the opponent no.1 urban credit society were instrumental for mismanagement of the funds of the opponent no.1. Therefore, administrator was appointed by dissolving the board of directors to carry out function the opponent no.1 credit society. Though the original complainants are related to each other yet in their individual capacity certain amounts were deposited in fixed deposit receipts with the opponent no.1 credit society. Therefore, they are entitled to receive the proceeds after maturity. Due to mismanagement of the respondent no.2 to 11, proceeds could not be received though each of the fixed deposit receipt was matured and the respondents failed to settle the proceeds on given date and even thereafter.
[5] Learned counsel of the appellants brought to our notice the issue of lifting of corporate/co-operative veil as already been decided by the Honble National Commission in the matter, Basavaraj Vibhute & Anr vs. Channabasavayya g. Hiremath & ors. II (2008) CPJ 162 (NC) and in the matter, Ashish Rameshchandra Birla & ors. Vs. Murlidhar Rajdhar Patil & ors. I (2009) CPJ 200 (NC) thereby holding the directors responsible for deficiency in service in their individual capacity. The impugned order suffers from the legal lacunae for lack of directions fixing the responsibility of the directors individually to settle the dues payable to the appellant and instead the impugned order directed opponent no.1 to 11 to jointly pay the amounts of fixed deposit receipts together with interest. Therefore, recovery of maturity proceeds is impossible.
[6] Learned counsel Mr.Uday Wavikar brought to our notice the audit report of the opponent no.1 society carried out for the period from 01/04/2008 to 31/03/2010. Board of directors i.e. respondents have sanctioned loan without following rules and regulations and failed to recover the loan advanced. The present appellants were also directors of the respondent no.1 credit society. However, one of the directors, Gunvant Baburao Rote who is appellant in A/10/137 and A/10/138 and his family have received the hefty amount of Rs.3 crores against settlement of their dues during the period of administrator ignoring priority to settle the dues of old depositors. These appellants are already beneficiary and therefore they have no right to press for recovery of the amounts from the individual directors/respondents. However, during the course of arguments, both the learned advocates have agreed that the impugned order can be implemented only when the liability is fixed against the individual directors/respondents if the order is not satisfied in the present form within a period of one year. In view of these submissions, impugned order needs modification for directions accordingly by allowing the appeals partly. We hold accordingly and pass the following order.
ORDER If the joint liability of the opponents no.1 to 11 is not satisfied jointly by all of them within a period of one year, then the opponents no.2 to 11 shall equally discharge the liability individually. Rest of the order stands as it is. No order as to costs.
Pronounced Dated 4th March, 2015.
[ JUSTICE R. C. Chavan] PRESIDENT [ Narendra Kawde] MEMBER pgg