1 BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT Dated: 10.02.2011 Coram: The Honourable Mr. Justice C.T.SELVAM Crl.RC.(MD).No.19 of 2011 and M.P.(MD)No.1 of 2011 1. Muthuvel Industries, No.20-A, Race Course Road, Dindigul, represented by A.Subburam. 2. Muthuvel Finance, No.20-A, Race Course Road, Dindigul. 3. Muthuvel Investments, No.20-A, Race Course Road, Dindigul. 4. Muthuvel and Co., No.20-A, Race Course Road, Dindigul. 5. Muthuvel Syndicate, No.20-A, Race Course Road, Dindigul. 6. Muthuvel Corporation, No.20-A, Race Course Road, Dindigul. 7. Muthuvel Enterprises, No.20-A, Race Course Road, Dindigul. 8. Muthuvel Associates, No.20-A, Race Course Road, Dindigul. 9. Muthuvel Services, No.20-A, Race Course Road, Dindigul. Petitioners 1 to 9 represented by Petitioner A.SUBBURAM 10.A.Subburam 11.A.Muthuvel 12.A.Jayakumar 13.Kannammal Subburam 14.V.S.K.Chandrasekaran https://hcservices.ecourts.gov.in/hcservices/ 2 15.K.Ganesan 16.M.Jothi 17.J.Geetha 18.K.Muthulakshmi 19.C.Chitra 20.P.Veerammal ..Petitioners/Accused vs. State represented by:: The Inspector of Police, Economic Offences Wing-11, Dindigul. .. Respondent/Complainant Prayer: Criminal Revision Petition filed under Section 397 r/w 401 of Criminal Procedure Code to call for the records relating to the order dated 15.11.2010 passed by Special Judge for Tamil Nadu Protection of Interest of Depositors Cases, Madurai and set aside the same. For Petitioner : Mr.G.R.Swaminathan For Respondent : Mr.R.M.Anbunithi, Govt. Advocate (crl. Side) O R D E R The order of the learned Special Judge for Tamil Nadu Protection of Interest of Depositors Cases, Madurai, in Crl.M.P.No.2547 of 2010, dated 15.11.2010 is under challenge herein. The lower Court dismissed the application to refer the case in C.C.No.2 of 2008 for the cognizance of the Lok Adalat, Dindigul. The lower Court found as follows: "Heard. Already L.S.A. returned the entire file that the accused is not willing to settle the issue in accordance with law and directed the accused to appear before this Court on 15.11.2010. In view of the said endorsement, this petition is not maintainable and hence dismissed." 2. The State has filed a counter informing that in C.C.No.2 of 2008, there are totally 504 depositors and the amount payable to them was Rs.2,16,77,946/- and the payment for 215 persons has been settled by payment of Rs.42,67,590/- in a period of two years. The balance due to 289 depositors is Rs.1,74,10,356/-. In C.C.No.3 of 2008, a sum of Rs.32,23,220/- is payable to 55 persons. The claims of 25 depositors in a sum of Rs.10,30,206/- stands paid, leaving a balance of Rs.21,93,014/- payable to 30 depositors. In C.C.No.17 of 2009, the total number of depositors is 446 and the amount payable to them is Rs.2,13,03,140/-. The claims of 3 depositors in a sum of Rs.40,350/- has been settled, while the claims of 443 depositors in a sum of Rs.2,12,62,790/- is yet to be made. In all the three cases, the accused are common and they are the petitioners herein. 3. The learned Counsel for the petitioners would strenuously contend that bonafide intent of the petitioners is writ large by the fact that they have made payment to several depositors and given time to settle claims of all the depositors, they would do so. He would further submit that no useful purpose would be served by the conduct of the trial and the same may be stayed towards enabling the reference of the matter to the Lok https://hcservices.ecourts.gov.in/hcservices/ 3 Adalat, Dindigul, as all the depositors are from in and around Dindigul. 4. On considering the rival submissions, this Court does not think it appropriate to stay further proceedings in C.C.No.2 of 2008. As submitted by the prosecution, only 135 witnesses have been examined and more than 350 further witnesses are to be examined. This is bound to be a time drawn exercise. The very pendency of the proceedings itself offers an opportunity to the petitioners time to effect payment and settle the claims of the depositors. If and when they do so, they will be entitled to compounding of offences, as provided for under Section 5(a) of TNPID Act. With the above observations, this petition is dismissed. Consequently, the connected Miscellaneous Petition is dismissed. SD DEPUTY REGISTRAR ( WRITS ) /TRUE COPY/ ASST REGISTRAR ssl To 1. The Special Judge Tamil Nadu Protection of Interest of Depositors Cases, Madurai. 2. The Additional Public Prosecutor, Madurai Bench of Madras High Court, Madurai. 3. The Inspector of Police,, Economic Offences Wing II, Dindigul. DM:2011::MARCH:01::: Crl.RC.(MD).No.19 of 2011 and M.P.(MD)No.1 of 2011 10.02.2011 3p:4c:: https://hcservices.ecourts.gov.in/hcservices/