Kerala High Court
M/S Annam Steels (P) Ltd vs Canara Bank Ltd on 3 January, 2022
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE BECHU KURIAN THOMAS
MONDAY, THE 3RD DAY OF JANUARY 2022 / 13TH POUSHA, 1943
WP(C) NO. 21892 OF 2021
PETITIONERS:
1 M/S ANNAM STEELS (P) LTD.
OFFICE AT 11/40E, FASHION TOWER,
CHEROOTY ROAD, KOZHIKODE, PIN-673 001,
REPRESENTED BY ITS MANAGING DIRECTOR
E.T.FIROZ.
2 E..T.FIROZ,
S/O E.T.MUHAMMED BASHEER,
SOUMYA, 2/1788A,
FLORICAN ROAD, KALATHI AVENUE,
CIVIL STATION, MALAPPARAMBU,
KOZHIKODE-673 030.
3 SRI. A.T.MUHAMMED ALI,
S/O AHAMMED A.T,
NADUVILAKANDI KURACKAL HOUSE, 12/61,
KUTTIKKATTOR (PO),
KOZHIKODE-673 008.
4 MUHAMMED FAVAS,
S/O KUNHI MOIDEEN KUTTY,
FLAT NO.12 B, SKYLINE OCEANIC,
OCEANIC, BEACH ROAD,
KOZHIKODE, PIN-673 032.
5 ANNEES ADAM K.M.
S/O T.MUNEER,
KOYAPPATHODI VILLA,
KRISHNA NAIR ROAD, MALIKADAVU,
NEAR GOVT ITI, KOZHIKODE-673 010.
W.P.(C) No.21892/21
-:2:-
6 SYED MUHAMMED THAYYIL,
S/O THAYYIL KHADER HAJI,
THAYYIL HOUSE,
KATTACHIRA, B.P. ANGADI (PO)
VENGALOOR, TIRUR,
MALAPPURAM-676 102.
7 V.ABDUL RAZZACK,
S/O MUHAMMED,
BARIKODAN HOUSE,
ERNAD, MALAPPURAM-673 639.
BY ADVS.
SRI.S.EASWARAN
SRI.P.MURALEEDHARAN (IRIMPANAM)
SRI.P.SREEKUMAR (THOTTAKKATTUKARA)
SMT.K.V.RAJESWARI
RESPONDENTS:
1 M/S CANARA BANK LTD.
CHEROOTY ROAD BRANCH,
COURT ROAD, KOZHIKODE-673 001,
REPRESENTED BY ITS CHIEF MANAGER & AUTHORIZED
OFFICER
2 M/S PUNJAB NATIONAL BANK LTD,
EROTH CENTRE, BANK ROAD,
KOZHIKODE-673 001,
REPRESENTED BY ITS CHIEF MANAGER
BY ADV C.AJITH KUMAR, SC
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR
ADMISSION ON 21.12.2021, THE COURT ON 03.01.2022 DELIVERED
THE FOLLOWING:
W.P.(C) No.21892/21
-:3:-
"C.R."
BECHU KURIAN THOMAS, J.
-----------------------------------------
W.P.(C) No.21892 of 2021
----------------------------------------
Dated this the 3rd day of January, 2022
JUDGMENT
Petitioners had borrowed from a consortium of two banks and
created separate security interests favouring those banks. The steps
initiated to enforce the security interest are under challenge in this writ
petition filed under Article 226 of the Constitution of India.
2. When petitioners raised the question of the authority of the banks
to enforce the security interest in the manner proceeded with, respondents
questioned the maintainability of the writ petition under Article 226 of the
Constitution of India. Both questions raise issues of significance.
3. The issues arise from a loan granted by a consortium of two
banks - the Canara Bank and the Punjab National Bank, to the first
petitioner. Though the initial sanction for the loan was Rs.180 crores, it
was enhanced to Rs.200 crores and later pruned down to Rs.190 crores.
The first petitioner thus borrowed an amount of Rs.190 crores from the
respondents.
4. Subsequently, when respondents noticed diversion of
W.P.(C) No.21892/21
transactions through other banks, contrary to the agreements, notices
were issued reminding the defaults. Thereafter, at the request of the
petitioners, restructuring of the loan was carried out. Later, when the
amounts fell in arrears, proceedings were initiated under the Securitisation
and Reconstruction of Financial Assets and Enforcement of Security
Interest Act, 2002 (for short, 'the Securitisation Act') by issuing two
separate notices under section 13(2) of the Act. Accordingly, the Canara
Bank issued notice dated 23.12.2015, seeking to recover an amount of
Rs.67,88,88,048/- along with interest at 16.65%, while the Punjab National
Bank issued notice dated 17.11.2015, demanding an amount of
Rs.78,23,69,917/- along with interest at the contracted rate.
5. After initiating proceedings under the Securitisation Act
separately, the consortium of banks preferred an original application on
05.08.2016 before the Debts Recovery Tribunal (for short, 'the DRT') as
O.A. No.143 of 2017. The application was later renumbered as T.A.
No.44 of 2017. Through the original application, the consortium of banks
sought to recover the amounts quantified therein from the defendants, who
are the petitioners in this writ petition. An aggregate amount of
Rs.163,89,66,756.54 was sought to be recovered as on 31.07.2016, of
which Rs.74,65,52,816/- with future interest at 14.65% was claimed by the
Canara Bank while Rs.89,24,13,940.55 with future interest at 14.60% was
W.P.(C) No.21892/21
claimed by the Punjab National Bank.
6. In the meantime, petitioners challenged the steps initiated under
section 14 of the Securitisation Act before the DRT by filing S.A. No.111 of
2017, which was disposed of by Final Order dated 27.11.2018. While
disposing S.A. No.111 of 2017, the Tribunal held that the
initiation/continuance of further proceedings under the Securitisation Act
will be subject to the outcome of T.A. No.44 of 2017. Thus, the
proceedings under section 14 of the Securitisation Act were made subject
to the outcome of the original application pending before the DRT.
7. Thereafter, the original application before the DRT was disposed
of by judgment dated 28.09.2020. The Tribunal allowed the original
application and directed the defendants to pay to the consortium of banks
Rs.163,89,66,756.54 with pendente lite and future interest at 14% per
annum, after deducting Rs.35,91,72,323/- received as compensation
awarded under the Land Acquisition Act for the acquisition by the
Government of one of the properties, over which security interest was
created. The amount received as compensation was kept in a 'no lien'
account by the banks.
8. The present writ petition revolves around the issue as to whether
the deduction directed by the DRT in T.A. No.44 of 2017 initiated at the
behest of the consortium of banks necessitates fresh securitisation
W.P.(C) No.21892/21
proceedings from the stage of section 13(2) itself or whether the banks are
entitled to continue the securitisation proceedings from the stage at which
the order in S.A. No.111 of 2017 was rendered. Petitioners allege that,
due to the deduction directed by the Tribunal in the judgment in T.A. No.44
of 2017, the proceedings under the Securitisation Act ought to be initiated
afresh - by issuing fresh notice under section 13(2) of the Securitisation
Act.
9. A counter affidavit was filed by the respondents stating that the
challenge cannot be entertained by this Court since the remedy available
to the petitioners was before the DRT and also that the intention of the
petitioners is only to drag the recovery proceedings. It was further averred
that the total valuation of the security asset was only around Rs.20.77
crores while the petitioners were deriving a monthly income of
Rs.10,00,000/- from the tenants and petitioners were not paying any
amounts to clear the loan liabilities. It was further stated that separate
notices issued by the banks under section 13(2) did not suffer from any
legal infirmity and that the order in S.A. No.111 of 2017, produced as
Ext.P6, was binding upon the petitioners.
10. Respondents further pleaded that, after the judgment in T.A.
No.44 of 2017 as per Ext.P7 judgment, in the light of the Final Order in S.A
No.111 of 2017, the respondents were entitled to continue the
W.P.(C) No.21892/21
securitisation proceedings and that the amount received by the defendants
subsequently, by way of compensation for acquisition of one of the
secured assets, does not render the notices issued under section 13(2) as
redundant. On the other hand, according to the respondents, all that is
required, after the final order of the DRT, was to quantify the debt after
carrying out the arithmetical changes as directed while initiating/continuing
the proceedings under section 14 of the Securitisation Act before the
Magistrate, which was in fact done.
11. I have heard Sri..S.Easwaran, learned counsel for the
petitioners as well as Sri. C.Ajith Kumar, learned Standing Counsel for the
respondents.
12. Adv.S.Easwaran contended that once the debt due to the
respondents got crystallised by virtue of the decree in T.A. No.44 of 2017,
the respondents cannot proceed with the recovery of the amounts under
the original contract and that the demand notice issued under section
13(2) of the Act paled into insignificance. The direction to reduce the
interest from 16.6% with monthly rests to 14% as ordered by the DRT,
rendered the notice issued under section 13(2) of the Securitisation Act
redundant. It was also argued that, since the definition of the word 'debt'
includes a decree, there must be a fresh demand under section 13(2) of
the Securitisation Act to enable the respondents to continue the
W.P.(C) No.21892/21
proceedings under the Securitisation Act. According to Adv.Easwaran, the
non-adjudicatory measures contemplated under section 14 of the
Securitisation Act cannot ignore the crystallisation of the debt under the
orders of the DRT and therefore, the demand notices issued prior to the
crystallisation of the debt lost its sanctity. In support of his contentions,
the learned Counsel relied upon the decisions in Income Tax Officer,
Kolar Circle, Kolar and Another v. Seghu Buchiah Setty (AIR 1964 SC
1473), Kanhaiya Lal v. State Bank of India and Others (AIR 2008 Patna
153), M/s.Ace Media Advertisers Pvt. Ltd. and Others v. Bank of
Baroda and Others (AIR 2009 All. 120), N.B.Gurudeva v. State Bank of
Mysore (AIR 2011 Kant. 188), and A.P.State Financial Corporation v.
M/s.GAR Re Rolling Mills and Another [(1994) 2 SCC 647].
13. Adv. Ajith Kumar, on the other hand, argued that the writ petition
itself is not maintainable since the remedy of the petitioners is before the
DRT by challenging the measures initiated under section 14 of the
Securitisation Act and not by way of a writ petition. It was also argued
that, after the DRT issued the judgment in T.A. No.44 of 2017, the amount
for which securitisation proceedings are being continued is based upon
the debt as quantified by DRT and all that was required while proceeding
with the measures under section 14 of the Securitisation Act is to submit
the affidavit with the necessary quantification contemplated on the basis of
W.P.(C) No.21892/21
the judgment of the DRT. It was further contended that, petitioners are not
put to any prejudice and as long as the account remains non-performing,
the respondents are entitled to continue with the securitisation
proceedings initiated as per the notices issued under section 13(2) of the
Securitisation Act in 2015, subject to the quantification done by the DRT.
Adv. Ajith Kumar further contended that, petitioners have not paid any
amount since 2015 other than that received under the land acquisition
compensation, which amount was received only after the notice under
section 13(2). The learned counsel relied upon the decisions in
Authorised Officer, State Bank of Travancore and Another v. Mathew
K.C, [(2018) 3 SCC 85], Transcore v. Union of India and Another
[(2008) 1 SCC 125], Commissioner of Income Tax and Others v.
Chhabil Dass Agarwal [(2014) 1 SCC 603], and Irene Isabella v.
Authorised Officer, State Bank of India, Udagamandalam Branch and
Another (AIR 2009 Mad. 3).
14. The arguments put forth by the learned Counsel has given rise
to two issues that require deliberation by this Court. The two issues are (i)
whether the writ petition is maintainable? and (ii) whether a fresh notice
under section 13(2) of the Securitisation Act is required after adjudication
of the debt by the DRT in T.A. No.44 of 2017?
W.P.(C) No.21892/21
(i) Whether the writ petition is maintainable?
15. The writ petition was filed alleging that the DRT at Ernakulam
has not been functioning as on the date of filing of the writ petition. The
remedy of an aggrieved person against any action initiated under the
Securitisation Act is to move the DRT under section 17 of the
Securitisation Act. However, from the end of March 2021, one of the
Presiding Officers of the Tribunal at Ernakulam was not sitting, while the
remaining Presiding Officer resigned on 23.09.2021. Thus, as on the date
of filing of this writ petition (11.10.2021), there was no forum for the
petitioners to ventilate their grievances.
16. Lack of forum to agitate a grievance creates an occasion of
denial of access to justice. Access to justice is a fundamental right under
the Constitution. An effective adjudicatory mechanism is also a facet of
the said fundamental right. (See the decision in Anita Kushwaha and
Others v. Pushpa Sudan and Others [(2016) 8 SCC 509)]. When the
fundamental right to have access to justice is denied, due to the absence
of Presiding Officers of the forum created under the statute, the aggrieved
are entitled to knock at the doors of this Court under Article 226 or 227 of
the Constitution of India.
17. Further, apart from the constitutional right, every aggrieved
person have a legal right to challenge the proceedings under section 14 of
W.P.(C) No.21892/21
the Securitisation Act and when the forum is not available, they are entitled
to move this Court under Article 226 of the Constitution for enforcement of
their legal rights. The decision in Authorised Officer, State Bank of
Travancore and Another v. Mathew K.C. [(2018) 3 SCC 85] does not
propound an absolute bar in exercising the jurisdiction under Article 226,
that too, when the alternative remedy is not functioning or available to the
aggrieved.
18. In view of the above, this Court is of the considered view that
this writ petition is maintainable in the peculiar circumstances prevailing in
the State of Kerala.
(ii) Whether a fresh notice under section 13(2) of the Securitisation Act is
required after adjudication of the debt by the DRT in T.A. No. 44 of 2017?
19. Though the consortium of banks had issued separate notices
under section 13(2) of the Act, putting forth separate demands with
separate interest rates, they, together, as a consortium, filed the original
application, invoking the provisions of the Recovery of Debts and
Bankruptcy Act,1993 (for short, 'RDB Act'). Section 19(1) of the RDB Act,
provides for an application to the Tribunal for recovery of any debt.
20. The word 'debt' is defined in section 2(g) of the RDB Act as
follows:
2(g)"debt" means any liability (inclusive of interest) which is
claimed as due from any person by a bank or a financial
W.P.(C) No.21892/21
institution or by a consortium of banks or financial institutions
during the course of any business activity undertaken by the
bank or the financial institution or the consortium under any law
for the time being in force, in cash or otherwise, whether
secured or unsecured, or assigned, or whether payable under
a decree or order of any civil Court or any arbitration award or
otherwise or under a mortgage and subsisting on, and legally
recoverable on, the date of the application and includes any
liability towards debt securities which remains unpaid in full or
part after notice of ninety days served upon the borrower by the
debenture trustee or any other authority in whose favour
security interest is created for the benefit of holders of debt
securities or;
21. Thus, on a perusal of the aforementioned provisions of the RDB
Act, it is clear that the application filed by the consortium of banks before
the DRT on 05.08.2016 was to recover the debt due from the petitioners.
22. In contrast, under section 13 of the Securitisation Act,
proceedings can be initiated for enforcing the security interest without the
intervention of the court. As per section 13(2) of the Securitisation Act,
when a borrower makes any default in repayment of the secured debt or
any instalment thereof, and his account relating to such debt is classified
as non-performing, then the secured creditor, by notice in writing, must call
upon the borrower to discharge in full his liabilities to the secured creditor.
23. The total amount demanded by the banks separately under
Section 13(2) of the Act was Rs.163,89,66,756.54. However, when the
original application was decided, the Tribunal directed two modifications.
The interest payable from the date of filing of the application was reduced
from 14.65% to 14% and further directed deduction of Rs.35,91,72,323/-
W.P.(C) No.21892/21
which amount became receivable by the borrower due to the acquisition of
one of the properties over which security interest had been created.
24. Three words of significance are evident in section 13(2) of the
Securitisation Act. They are (i) non-performing asset, (ii) debt, and (iii)
liabilities. The word 'non-performing asset' is defined in section 2(o) of the
Securitisation Act as meaning "an asset or account which has been
classified as substandard or doubtful or loss as per the guidelines of the
Reserve Bank of India", while the word 'debt' is defined in section 2(ha) as
having the same meaning assigned to it in section 2(g) of the RDB Act.
The word 'debt' is a term of wide import, which includes any liability due
from a person in any form, whether payable under a decree or otherwise
and which is legally recoverable.
25. From an appreciation of the aforementioned provisions in the
RDB Act and the Securitisation Act, it can be understood that the word
'debt' has the same meaning in both statutes. The said word cannot
therefore be interpreted differently. Once an account is declared as non-
performing and when the notice under section 13(2) is issued specifying
the amount, the borrower is bound to discharge the entire liability, to
overcome the rigour of the Securitisation Act.
26. The provision in section 13(2) of the Act is explicit that a partial
discharge of the debt specified in section 13(2) notice is not sufficient to
W.P.(C) No.21892/21
discharge the liability of the borrower. A part-payment of the amount,
under whatever mode is also not sufficient to discharge the debt due.
27. If after issuance of section 13(2) notice, the bank itself initiates
proceedings under the RDB Act for recovery of any debt and invites an
adjudication on the quantum of debt due to it, they cannot thereafter turn
around and proceed to demand or enforce security interest for any
amount, more than what is quantified by the Tribunal. Fairness of the
lender demands that the bank ought not to be permitted to recover
anything more than what has already been quantified by the Tribunal.
Therefore, on an appreciation of the various statutory provisions, this
Court is of the view that once the DRT quantifies the debt due from the
borrower, on the basis of an application under section 19 of the RDB Act,
the bank is not entitled to seek enforcement of the security interest for any
amount more than what is quantified.
28. In Mardia Chemicals Ltd. v. Union of India [(2004) 4 SCC
311], referring to instances when the quantum of amount due is disputed,
it was observed that "the question of difference in amount may be kept
open and got decided before the sale of property".
29. In this context, the decision in Transcore v. Union of India and
Another [(2008) 1 SCC 125] assumes relevance. While finding that there
is no repugnancy nor inconsistency between the two remedies under the
W.P.(C) No.21892/21
RDB Act and the Securitisation Act, the Supreme Court observed that
"Together they constitute one remedy and, therefore, the doctrine of
election does not apply."
30. Hence, the respondents cannot proceed to recover any amount
more than what has been quantified by the Tribunal in T.A No. 44 of 2017.
31. However, the question involved in the present case is on a
different tangent. Acquisition of one of the secured assets took place after
the notices under section 13(2) of the Securitisation Act were issued. An
amount of Rs.35,91,72,323/- received towards compensation for land
acquisition was directed by the Tribunal to be deposited in a fixed deposit
yielding interest. By order dated 11.06.2020, the amount of compensation
along with accrued interest was directed to be appropriated by the Bank.
Petitioner contends that, the direction in the final order of the DRT in T.A
No.44 of 2017 directing deduction of the amount of compensation
received and the reduction in the pendente lite interest must necessarily
result in an extinguishment of the existing demand under section 13(2) of
the Securitisation Act. I am afraid I cannot agree to the said proposition
for more reasons than one.
32. First and foremost reason is that, at the time the notice under
section 13(2) was issued, no quantification of the debt due had taken
place. The amount demanded as on the date of issuance of notice was in
W.P.(C) No.21892/21
terms of the contract and was, in fact, correct, as subsequently found in
T.A. No.44 of 2017. The account had admittedly been declared as an
NPA, and there was a subsisting debt and liability. The scheme of the
Securitisation Act is such that though it is intended, as in the RDB Act, to
recover debts due to the Banks or Financial Institutions, the remedy under
that statute is treated as an additional remedy for enforcing the security
interest through a non-adjudicatory process. The notices under section
13(2) of the Securitisation Act was issued on 17.11.2015 and 27.12.2015
separately, while T.A. No.44 of 2017 was filed on 05.08.2016. At the time
the notice was issued, the conditions essential for initiating steps under
the said Act was in existence. The subsequent quantification and
crystallisation of the debt due, including a reduction in the interest, that
too, for the period beyond the date of notice, cannot have a bearing on the
notice issued for enforcing the security interest.
33. Similarly, the receipt of compensation for acquisition is a
subsequent event and cannot affect the validity of the notice. If every
payment, subsequent to the notice under section 13(2) of the
Securitisation Act is treated as eroding the sanctity of notice under section
13(2) of the Securitisation Act, a shrewd borrower will be able to defeat the
provisions of the Act by making a part payment, after the notice under
section 13(2) of the Securitisation Act is issued. Acceptance of such a
W.P.(C) No.21892/21
proposition can lead to an anomalous situation at the hands of a crafty
borrower. The situation can even lead to a never ending process of
recovery. Similarly, every payment by instalments or by any other mode of
recovery would warrant a fresh notice to be issued. Such an interpretation
will render the entire statute redundant and unworkable.
34. Further, by virtue of the subsequent events, there is no novation
of contract that has taken place. The borrower, while agreeing to repay
the amount due, had also undertaken to keep the margin and the value of
the securities hypothecated in such a way that there is no mismatch
between the asset-liability in the books of the bank. In fact, it is the
mismatch in maintaining the aforesaid asset-liability margin that attracts
the provisions of the Securitisation Act. (See the decision in Transcore v.
Union of India and Another [(2008) 1 SCC 125] Para 63)
35. Coming to the facts of the present case, it is noticed that the
amount demanded by the banks separately under Section 13(2) of the Act
were Rs.163,89,66,756.54. When the original application was decided,
the Tribunal found the Banks entitled to the amount claimed. However,
the Tribunal directed two modifications. The first modification related only
to the pendente lite interest, while the second related to the deduction of
the compensation amount of Rs.35,91,72,323/-, which became payable to
the borrower due to the acquisition of one of the secured assets, that too,
W.P.(C) No.21892/21
after the notice under section 13(2) of the Act was issued. Thus, while
quantifying the debt, the variance directed by DRT related to matters
concerning post notice aspects.
36. In this context, it is relevant to observe that, by virtue of final
order in S.A. No.111 of 2017 dated 27.11.2018, the Tribunal had directed
that the initiation or continuance of the securitisation proceedings will
depend upon the final outcome of the original application. On a reading of
Ext.P6 order dated 27.11.2018, it is evident that, the said order only meant
that the securitisation proceedings must be carried on as per the final
order in T.A. No.44 of 2017. In the final order in T.A. No.44 of 2017, the
only change, as observed earlier in this judgment, was relating to variance
or deduction of amounts, post section 13(2) notices. Thus, the order in
S.A. No.111 of 2017 has no significant bearing on the contentions raised.
37. The above deliberation leads this Court to conclude that a
fresh notice under section 13(2) of the Securitisation Act is not required,
after adjudication of the debt by the DRT in T.A. No.44 of 2017, especially
since there was no finding in the final order of the DRT, contrary to the
claim in the notices issued by the Banks.
Therefore, there is no merit in the writ petition and it is accordingly
dismissed.
Sd/- BECHU KURIAN THOMAS
vps JUDGE
W.P.(C) No.21892/21
APPENDIX OF WP(C) 21892/2021
PETITIONER'S/S' EXHIBITS
EXHIBIT P1 COPY OF ORIGINAL APPLICATION WITHOUT
ANNEXURES
EXHIBIT P2 COPY OF DEMAND NOTICE DATED 27.12.2015
ISSUED BY THE 1ST RESPONDENT
EXHIBIT P3 COPY OF DEMAND NOTICE DATED 17.11.2015
ISSUED BY THE 2ND RESPONDENT
EXHIBIT P4 COPY OF APPLICATION FILED UNDER SECTION
14 OF THE SARFAEST ACT AS CMP 453 OF
2017 FILED BY THE 1ST RESPONDENT BEFORE
THE CHIEF JUDICIAL MAGISTRATE COURT,
KOZHIKODE
EXHIBIT P5 COPY OF ORDER DATED 22.4.2017 PASSED BY
THE CHIEF JUDICIAL MAGISTRATE COURT,
KOZHIKOD
EXHIBIT P6 COPY OF ORDER DATED 27.11.2018 IN SA NO
111 OF 2017
EXHIBIT P7 COPY OF ORDER DATED 28.9.2020 IN TA NO
44 OF 2017
EXHIBIT P8 COPY OF RELEVANT EXTRACT OF A DIARY
PROCEEDINGS DATED 20.9.2021 IN CMP NO
453 OF 2017
EXHIBIT P9 COPY OF ORDER DATED 4.10.2021 IN OP(DRT)
NO 147 OF 2021
RESPONDENT'S/S' EXHIBITS
EXHIBIT R1(a) TRUE COPY OF THE ADDL. AFFIDAVIT FILED
BY THE RESPONDENTS IN EXT.P4 BEFORE THE
CHIEF JUDICIAL MAGISTRATE COURT,
KOZHIKODE
W.P.(C) No.21892/21
EXHIBIT R1(b) TRUE COPY OF THE EXCEL SHEET SHOWING THE
CALCULATION ARRIVED BY THE RESPONDENTS
REACHING OUT TO THE FIGURES SHOWN AS
TOTAL DUES IN EXT.R1(a)
