K. Anantha Padmanabha Swamy, Member - (1.) Under consideration is an application filed by Mr. S.ARUNACHALAM (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 claimed a total sum of Rs.31,95,110/- (Principal and Interest included as on 31.03.2017) against 27 deposits as per application. All the deposits are repayable on the date of maturity along with contracted rate of interest. As per application, the applicant received only Rs. 10,000/- towards interest payment till now. However, the Company failed to make repayment on the date of maturity. Since all the deposits were matured and have not been repaid by the Company, the applicant has approached the Registrar of Companies, Tamil Nadu, Chennai (in short ROC, Chennai) and the ROC vide his letter dated 08.07.2017 advised the applicant to approach this Tribunal by filing an application under section 73(4) of the Act, 2013. Hence this application. The applicant has filed all the copies of FD Receipts and clearly mentioned the particulars of FD's in the petition.
(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.;