9911796707
TMI Blog2016 (12) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... at in addition to the above schedule they would be making provisions of ₹ 60 lacs per quarter towards Hardship cases. The Company Secretary, its V.P. Finance as well as the Counsel for the petitioner shall review the Hardship applications received every three months. The final disbursal of this Hardship cases shall be on approval of this Bench. The compliance report shall be placed before this Bench for review and quarterly extension of time in terms of the proposal accepted by this Bench today. The same shall be annexed with a certified copy of this order. Affidavit of compliance shall be filed within two weeks of expiry of every quarter for further extension giving the names of all depositors whose liability/extent of liability h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to which they have not been able to mobilize funds. The petitioner is hopeful that the situation may ease off in the future and have filed their projected P L statements. This Bench had cajoled and prodded the petitioners to better their proposal for extinguishing the liability towards their depositors in a shorter span. A final proposal to which this Bench has accorded its consent strictly subject its timely adherence, is Mark 'A'. The Bench is inclined to accept the same keeping in view that it would be expedient to grant breathing space to the company to revive and nurse its financial health rather than hammering a nail in its coffin, as also the fact that it would be in the larger interest of the investors to receive back their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... More Than 100000-Upto 200000 40 10 20 15 15 - 100 More Than 200000-Upto 500000 Maturing upto 31.03.2018 15 5 10 15 25 30 100 Maturing after 31.03.2018 15 - 15 15 25 30 100 More Than 50000 Maturing Upto 31.03.2018 15 - 15 15 25 30 100 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 844.90 379.10 8114.42 5. The aforesaid proposal of the petitioner company for enhancement of time for repayment of the matured deposits in a phased manner over a period of 24 months from the due date is being accepted in principle only in view of their past track record. However, it is also subject to their adherence to the schedule submitted in Court. It therefore becomes imperative to review and accord extension quarterly in terms of the above. 6. The petitioners have also undertaken that in addition to the above schedule they would be making provisions of ₹ 60 lacs per quarter towards Hardship cases. The Company Secretary, its V.P. Finance as well as the Counsel for the pet ..... X X X X Extracts X X X X X X X X Extracts X X X X
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