M/S. Emirates Cements India Pvt. ... vs M/S. The Travancore Cements ...
2023 Latest Caselaw 11313 Ker

              IN THE HIGH COURT OF KERALA AT ERNAKULAM
                              PRESENT
         THE HONOURABLE MR. JUSTICE DEVAN RAMACHANDRAN
   FRIDAY, THE 27TH DAY OF OCTOBER 2023 / 5TH KARTHIKA, 1945
                      WP(C) NO. 20108 OF 2023
PETITIONER:

          M/S.EMIRATES CEMENTS INDIA PVT. LTD
          VENGARA, MALAPPURAM- 676304 , KERALA,
          REPRESENTED BY ITS GENERAL MANAGER,
          THOMAS, S/O MATHEW, RESIDING AT PLOT NO.45,
          PANORAMA RESIDENCY, KUMARANASAN ROAD,
          KALOOR-682 017.
          BY ADVS.
          MATHEW JOHN (K)
          ABY J AUGUSTINE


RESPONDENTS:

    1     M/S.THE TRAVANCORE CEMENTS LIMITED,
          NATTAKOM P.O, KOTTAYAM-686 013,KERALA,
          REPRESENTED BY ITS MANAGING DIRECTOR, PIN - 686013
    2*    ADDL. R2. THE SECRETARY,
          INDUSTRIES DEPARTMENT, SECRETARIAT,
          THIRUVANANTHAPURAM-695001
          *(ADDITIONAL R2 IS IMPLEADED AS PER ORDER DATED
          20-10-2023 IN IA 3/2023)
          BY ADVS.
          LATHA ANAND
          No Advocate


     THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON
27.10.2023, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) NO. 20108 OF 2023              2

                              JUDGMENT

The petitioner seeks that respondents be directed to pay them the

undisputed eligible amounts, which they had availed as a loan, within a

time frame to be fixed by this Court.

2. Smt.Latha Anand - learned Standing Counsel for the 1 st

respondent - Travancore Cements Ltd., submitted that her client is

going through extreme financial crisis and therefore, requires at least a

few more months time to pay off the liability to the petitioner. She

added that they are not disputing the liability to the petitioner; but that

unless they are given sufficient time, payment would be impossible

because of their other commitments. She added that her clients will pay

Rs.15 lakhs to the petitioner on or before 30.10.2023, followed by Rs.10

lakhs each on 30.11.2023, 30.12.2023 and 30.01.2024, with a further

payment of Rs.20 lakhs on or before 20.02.2024 and the balance with

interest on or before 30.03.2024. She prayed that this writ petition be

ordered on such terms.

3. Sri.Mathew John - learned counsel for the petitioner, however,

submitted that his client is now facing unparalleled financial crisis, with

a mere Rs.1 lakh or two as balance; and therefore, are unable to even

honour the salary commitment of their employees. He submitted that,

therefore, if this Court is inclined to grant time to the 1 st respondent,

then it may be on condition that they pay at least Rs.20 lakhs by the

end of this month and the balance not later than two or three months

thereafter.

4. I have evaluated the afore submissions and am of the opinion

that this Court should now find a solution, by obtaining a median

between the afore two suggestions of the rival parties. This, certainly,

in my view would be better to both the parties.

In the afore circumstances, I dispose of this writ petition with the

following directions:

(a) The 1st respondent will pay Rs.20 lakhs to the petitioner not

later than 30.10.2023.

(b) On the afore being done, an amount equal to Rs.10 lakh each

will be paid on or before 30.11.2023, 30.12.2023 and 30.01.2024;

followed by further payment of Rs.20 lakh on or before 20.02.2024. The

balance, with eligible interest, will be thereupon paid not later than

30.03.2024.

I leave liberty to the petitioner to seek a rehearing of this writ

petition if any of the afore directions are not complied with by the 1 st

respondent.

                                  Sd/-DEVAN       RAMACHANDRAN
                                                  JUDGE
MC/27.10


                 APPENDIX OF WP(C) 20108/2023

PETITIONER EXHIBITS
Exhibit P1          A TRUE COPY OF TENDER DATED 01.08.2022
Exhibit P2          A TRUE COPY OF THE AGREEMENT DATED 12-09-

Exhibit P3          TRUE COPY OF THE DETAILS OF THE SUPPLY

MADE BY THE PETITIONER FROM 19.09.2022 TO 31.03.2023 Exhibit P4 A TRUE COPY OF EMAIL DATED 02.06.2023 Exhibit P5 INTEREST CALCULATION ON RECEIVABLES AS ON 13.06.2023 Exhibit P6 A TRUE COPY OF EMAIL DATED 02.06.2023 Exhibit P7 A TRUE COPY OF THE SAID REPLY TO EXT. P6 EMAIL DATED 02.06.2023 Exhibit P8 A TRUE COPY OF THE EMAIL FROM THE RESPONDENT DATED 15.06.2023.

Exhibit P9 TRUE COPY OF THE AFORESAID CONTEXT, IT IS RELEVANT TO PLACE ON RECORD THE NOTICE ISSUED BY THE TAHSILDAR (RR), KANNAYANNUR TALUK DATED 23.06.2023.

Exhibit P10 THE DETAILS OF THE SAID IMPORT DOWNLOADED FROM THE PUBLIC DOMAIN Exhibit P11 THE MONTH OF JUNE, THE RESPONDENT COMPANY HAS PURCHASED ANOTHER 513 TONNES OF CLINKER FROM ANOTHER IMPORTER.

Exhibit P12 A TRUE COPY OF THE RELEVANT TO BRING TO THE NOTICE OF THIS HON'BLE COURT THE BANK STATEMENT OF THE PETITIONER COMPANY AS ON 11.07.2023.

Exhibit P13 TRUE COPY OF THE STATEMENT EVIDENCING THE PAYMENT OF INTEREST TO ITS BANKERS CONSEQUENT TO THE DELAY CAUSED BY THE RESPONDENT COMPANY Exhibit P14 THE PETITIONER IS ALSO PRODUCING HEREWITH A TRUE COPY OF THE GST RETURNS FOR THE MONTH OF FEBRUARY TO JUNE THIS YEAR Exhibit P15 TRUE COPY OF THE ORDER G.O(RT) NO.676/2023/ID DATED 03.07.2023