9911796707
TMI Blog2000 (9) TMI 976X X X X Extracts X X X X X X X X Extracts X X X X ..... re the CLB, is the revision petitioner before this Court. 2. Though the civil miscellaneous petitions are posted for disposal, the main revision petition itself had been taken up for disposal and heard. 3. A perusal of the order of the CLB discloses that the Board has been receiving large number of complaints from depositors under section 45-QA for the payment of deposits against Kirloskar Investments and Finance Limited from August, 1999. It is reported that the Bench had received more than 1000 applications with aggregate amount for non payment of Rs. 340 lakhs on matured deposits. The applications came up for hearing at different stages. According to the company it was not in a position to meet the demands of the depositors due t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal lies only before the High Court within whose territorial jurisdiction the registered office of the company is situate. The registered office of the company is only at Bangalore and therefore it is only the High Court of Karnataka, which will have the territorial jurisdiction to entertain the appeal under section 10F of the Companies Act, notwithstanding the fact that the CLB, Southern Regional Bench, Chennai had passed the impugned order. 7. It is also pointed out on behalf of the respondents, an appeal has already been filed before the Karnataka High Court as against the order of the CLB and the revision petitioner before this Court is also a party in the said appeal. 8. As far as the objection (A) is concerned, the said objec ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nstitutional revision under article 227 is not at all barred before the Madras High Court, since the CLB was situate within the jurisdiction of this Court. He would also state that an appeal under section 10F of the Companies Act would arise only on the grounds stated therein. The CLB had no jurisdiction to order payment only to the depositors to the exclusion of the financial institutions and therefore such an order which was without jurisdiction was questionable before this Court under article 227. 12. I am unable to accept the contentions of the learned senior counsel for the petitioner. It is true that the Tribunal may be constituted within the territorial limits of this Court, but the jurisdiction of this Court to invoke article 22 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on petition. 15. It is true that Mr. Arvind P. Datar, the learned senior counsel has sought to rely on the judgment of the Supreme Court in East India Commercial Co. Ltd. v. Collector of Customs, AIR 1962 SC 1893 and that of the Calcutta High Court in Ramhari Mandal v. Nilamoni Das, AIR 1952 Cal 184 in support of his contention as regards the maintainability of the petition under article 227. Reference is also made to the judgment of the Supreme Court, in Whirlpool Corpn. v. Registrar of Trade Marks, AIR 1999 SC 22 in support of his contention that the availability of alternative statutory remedies, will not be a bar for invoking jurisdiction of the High Court under articles 226 and 227 of Indian Constitution. 16. But ha ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
