K. Anantha Padmanabha Swamy, Member - (1.) Under consideration is an application filed by Mr. N.RAMALINGAM & Mrs.R.VASUKI (in short Applicants) 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 them in the respondent Company.
(2.) According to the application filed before this Bench, the applicants herein have deposited a sum of Rs.81,882/- and Rs. 13,10,000/- respectively and the details are as follows: As per application, the applicants received only Rs. 11,790/- towards interest payment till now. The applicants filed this application for the non-receipt of the monthly interest and as a precautionary step for the repayment of deposits on the maturity date. They further said that the matured FD amount were not given to the respective members, hence they strongly opined that the company might not be in a position to honour the maturity value on the respective due dates. All the deposits are repayable on the date of maturity along with contracted rate of interest. Since the deposits have neither been repaid by the Company, nor the interest due paid, the applicants have approached the Registrar of Companies, Tamil Nadu, Chennai (in short ROC, Chennai) and the ROC vide his letter dated 08.07.2017 advised the applicants to approach this Tribunal by filing an application under section 73(4) of the Act, 2013. Hence this application.
(3.) During the hearing, the learned PCS for the applicants 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 has failed to pay the interest on deposits and the whereabouts of the company's directors are not known to the applicants. 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 applicants and prayed for a direction to the Company to repay the deposits with interest.;