Report No. 143
Appendix 'C'
Statement showing Refund of Deposits by Companies on initiative of the Law Commission
Sl. No. |
Name of the Company |
No of depositors whose have been refunded. |
Total Amount |
Remarks |
1 |
2 |
3 |
4 |
5 |
| A. Sick Companies | ||||
1. |
M/s. Amar Dye-Chem Ltd., Bombay. | 5240 |
Rs. 132 lakhs |
Vide Company's letter dt. 22-2-91 and 26-6-91 Rs. 88 lakhs would be paid during 1991-92. |
2. |
M/s. Champagne India Ltd., Bombay. | Not furnished |
Rs............... |
Company is taking steps to repay Rs. 10.72 lakhs to 266 depositors vide letter dt. 18-5-91. |
3. |
M/s. Deccan Dyes & Chemicals Industries, Pune. | .. |
Rs. 2.98 lakhs |
Vide Company's letter dt. 23-2-91 and 11-5-91. |
4. |
M/s. Exporto Industrial Engravers Pvt. Ltd., Pune. | 86 |
Rs. 2.40 lakhs |
Vide Company's letter dt. 29-8-90. |
5. |
M/s. Khatau Makanjee Spinning and Weaving Company Ltd., Bombay. | Not furnished |
Not furnished |
Company has paid interest on FDRs upto 31-12-90 (Company letter dt. 19/24-5-91). |
6. |
M/s. Otokline plants & Equipments Ltd., Bombay. | .. |
.. |
Company has expected its ability to pay FDRs amounting to Rs. 29.47 lakhs to 742 depositors in shortwhile, vide letter dt. 24-4-91. |
7. |
M/s. Palghar Rolling Mills Pvt. Ltd., Bombay. | .. |
.. |
Company is expected to pay shortly to 175 depositors Rs. 6.63 lakhs (Company letter dt. 8-4-91). |
8. |
M/s. Phoenix Mills Limited, Bombay. | 1 |
Rs. 2,000 |
Company letter dt. 3-6-91. |
9. |
M/s. Raja Bahadur Motilal Poona Mills Limited, Bombay. | 423 |
Rs. 36.89 lakhs |
Rs. 1.10 lakh would be paid to 26 depositors on surrender of FDRs by them. Company letter dt. 3-8-91. |
10. |
M/s. Vallabh Glass Works Limited, Anand (Gujarat). | 1641 |
Rs. 69.50 lakhs |
Company is expected to repay to 1,600 depositors during 199-92 amounting to Rs. 70 lakhs, vide Company letter dt. 26-2-1991. |
11. |
M/s. Vanaz Engineering Pvt. Ltd., Pune | 192 |
Rs. 9.02 lakhs |
Vide Company's letter dt. 7-7-1990. |
| Total | 7583 |
Rs. 252.76 lakhs |
Companies are expected to repay Rs. 206.12 lakhs to 2,809 depositors in near future. | |
| B. Private Companies (Other than Sick) | ||||
12. |
M/s. Sallgence Marketing Co. Pvt. Ltd., Pune. | 2 |
Rs. 9000 |
Company letter dt. 16-3-1991 |
13. |
M/s. Malari Saving & Finance Co. (P) Limited, Dehradun. | 1 |
Rs. 3,460 |
Company letter dt. 2-8-91. |
| Total | 3 |
Rs. 12,460 |
||
| C. Companies Other than Private and Sick | ||||
14. |
M/s. Andhra Pradesh Scooters Limited, Aitenchar, PIN-502319. | 1 |
Rs. 500 |
Company's letter st. 11-5-1991. |
15. |
M/s. American Refrigerators Company Limited, Calcutta-1. | 1 |
Rs. 4,749 |
>Company's letter dt. 25-4-1991. |
16. |
M/s. Ambalal Sarabhai Enterprises. Limited, Baroda. | 1456 |
Rs. 77.11 lakhs |
Order by CLB on a reference by the Law Commission. |
17. |
M/s. Gestetner (India) Limited, New Delhi | 1 |
Rs. 4,000 |
Company's letter st. 29-1-1991. |
18. |
M/s. G.P. Upadhye & Sons, Bombay-2. | 2 |
Rs. 2,500 |
Firm letter dt. 16-3-1991. |
19. |
M/s. H.P. Agro Industries, Shimla. | 148 |
Rs. 12.50 lakhs |
Order by CLB on a reference by the Law Commission. |
20. |
M/s. Jindal Steel Tubes Limited Sahibabad, Hyderabad. | 3 |
Rs. 15,000 |
Vide Company's letter dt. 1-3-91. |
21. |
M/s. Krishna Engineering Works, Delhi-52. | 10 |
.. |
Firm letter dt. 11-3-91. |
22. |
M/s. Loha Machines Limited, Kanpur. | 4 |
Rs. 2,849 |
Company letters dt. 21-5-91, 28-5-1991 and 3-6-1991. |
23. |
M/s. Lords Group Housing Finance Ltd., Delhi-31. | Not furnished |
Not furnished |
**Company is hopeful to repay to all the depositors after May, 1991. Company's letter dt. 1-5-91. |
24. |
M/s. Maharashtra Scooters Ltd., Pune. | 1 |
Rs. 500 |
Company letter dt. 24-5-91. |
25. |
M/s. MCS Limited, New Delhi. | 1 |
Rs. 1,250 |
Company letter dt. 2-5-91. |
26. |
M/s. Mazda Industries & Leasing Limited, Bombay-21. | Rs. 5,328 |
**Company will be paying all the depositors whose deposits are Rs. 5,000 or less as suggested by the Law Commission. Company letter dt. 27-2-91 & 4-6-91. | |
27. |
M/s. Niman Engineering Corporation, Pune. | 2 |
Rs. 6,000 |
Company letter dt. 7-5-91. |
28. |
M/s. Orissa Industries Ltd., Rourkela. | 1 |
Rs. 3,000 |
**Company Assured to repay all 20 depositors amounting to Rs. 1.7 lakhs by July, 1991. Company letters dt. 20-4-91 and 25-5-1991. |
29. |
M/s. OTA India, Bombay | .. |
.. |
Company is paying in instalments of Rs. 250 to Rs. 1,000 p.m. to the depositors who have not gone to the Court (Company letter dt. 6-3-91). |
30. |
M/s. Orient Abrasions Limited, New Delhi. | 2 |
Rs. 10,513 |
.. |
31. |
M/s. Pure Drinks Limited, New Delhi-1. | 545 |
Rs. 3.68 lakhs |
Letters dt. 10-5-91, 15-5-91 and 23-5-91. |
32. |
M/s. Siemens Limited. | 1 |
Rs. 5,000 |
.. |
33. |
M/s. Synbiotics Limited, Baroda. | 1 |
Rs. 6,000 |
**Company letter dt. 5-4-1991 Company has assured to pay all depositors by August 1991. Company letter dt. 2-7-1991. |
34. |
M/s. Thapar Agro Mills Limited, New Delhi. | 1 |
Rs. 2,250 |
Company letter dt. 16-5-91. |
35. |
M/s. Phoenix Mills Ltd., Bombay-30. | 1 |
Rs. 2,000 |
Company letter dt. 3-6-91. |
36. |
M/s. Udayan Credit & General Investment Co. Ltd., Calcutta. | 3 |
Rs. 12,060 |
Company letter dt. 11-4-91. |
37. |
M/s. Uniscans & Sonics Ltd., Chandigarh. | 1 |
Rs. 17,371 |
Company letter dt. 30-7-91. |
38. |
M/s. United Diamonds Limited, Chandigarh. | 3 |
Rs. 10,311 |
Company letters 11-6-91. dt. 26-3-91 and 11-6-91. |
39. |
M/s. Wipro Industries Limited, Bombay | 1 |
Rs. 4,000 |
Company letter dt. 8-5-91. |
Total |
2190 |
Rs. 94,30,181 |
Plus **Companies. | |
Grand Total (A+B+C) |
9,776 |
Rs. 34,718,641 |
Companies are expected to repay Rs. 206.12 lakhs to 2,809 depositors, plus **Companies. | |
