A R SANTHANAKRISHNAN Vs. VARIAR BENEFIT FUND LIMITED

JUDGEMENT

(1.) Under consideration is an application filed by Mr.A.R.Santhanakrishnan (in short Applicant) under Section 73(4) of the Companies Act, 2013 (the Act, 2013) seeking an order directing the respondent Company to pay the sum due in respect of the deposits made by him in the respondent Company.

(2.) According to the application filed before this Bench, the applicant herein has deposited a total sum of Rs.3,00,000/- under two deposits and the details are as follows:

(3.) During the hearing, the learned PCS for the applicant submitted that the respondent Company is a Nidhi Company having its registered office at 193/8, Asiad Colony, Jawaharlal Nehru Road, Anna Nagar Western Extn, Chennai - 600 101. The Company failed to repay the deposits and the whereabouts of the company are not known to the applicant. The learned PCS also submitted that this Tribunal is empowered to direct the company to repay the sum due in respect of the deposits made by the applicant and prayed for a direction to the Company to repay the deposits with interest.