IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR FRIDAY, THE 24TH OCTOBER 2008 / 2ND KARTHIKA 1930 WP(C).No. 7244 of 2006(K) ------------------------- PETITIONER(S): --------------- A.R. VIJAYAN, AGED 45 YEARS, S/O. RAMAN, ADATTUPARAMBIL HOUSE, AMBALAPURAM, P.O. PERINGANDOOR, THALAPPALLY TALUK. BY ADV. SRI.P.K.SAJEEV RESPONDENT(S): --------------- 1. FOUR LINKS ENGINEERING AND TYRE MOULDS (P) LTD., REG. OFFICE, KOORKANCHERRY, THRISSUR, REPRESENTED BY MANAGING DIRECTOR. 2. P.K. SANKARAN, S/O. PULLARKATTIL KUNJUNNI, KOLAZHI DESOM, THRISSUR TALUK. 3. ARYADEVI, W/O. K.K.KRISHNAN NAMBOODIRI, KOSSERY MANA, KUNNAMKUKLANGARA, P.O. KOORKANCHERRY THRISSUR. 4. PUSHPAKUMARI, W/O. P.K. SANKARAN, PULLARKATTIL HOUSE, KOLAZHY DESOM,THRISSUR TALUK. 5. THE GENERAL MANAGER, DISTRICT INDUSTRIAL CENTRE, THRISSUR. 6. THE MANAGER, CENTRAL BANK OF INDIA,, ROUND WEST, THRISSUR. 7. DEPUTY TAHSILDAR (R.R), TALUK OFFICE, THALAPPILLY, WADAKKANCHERRY. ADDL. 8. SHAHUL HAMEED, SON OF MOHAMMED, VALIYAKATH HOUSE, KURUMBILAVU P.O., THRISSUR, REPRESENTED BY POWER OF ATTORNEY HOLDER ABBAS, SON OF MOHAMMED, VALIYAKATH HOUSE, KURUMBILAVU PO THRISSUR. 2 ADDL. 9. K.K. KRISHNAN NAMBOODIRI, SON OF KRISHNAN NAMBOODIRI, KOSSERY MANA, KANNANKULANGARA, PO. KOORKKANCHARRY, THRISSUR, NOW RESIDING AT HARITHA NAGAR, OPP. VIYYUR SUB JAIL, VIYYUR,THRISSUR. ADDL. R8 AND R9 ARE IMPLEADED RESPECTIVELY VIDE ORDER ON I.A.NOS. 4139/07 DATED 21.3.2007 & 4461/07 DATED 21.3.2007 R6 BY ADVS. SRI.V.V.SIDHARTHAN SMT.R.SEEMA R2 & R4 BY ADV.SRI.RANJIT BABU R7 BY G.P. SMT. SMITHA R8 BY ADVS. SRI.RENJITH THAMPAN SMT.P.A.ANITHA SRI.SHOBY K.FRANCIS THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 24/10/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: 3 APPENDIX PETITIONER'S EXHIBITS: EXT.P1 TRUE COPY OF THE RESOLUTION OF THE BOARD OF DIRECTORS MEETING DATED 30.5.98 EXT.P2 TRUE COPY OF THE CONSENT DEED DATED 17.7.2004 EXECUTED BY THE PETITIONER AND RESPONDENTS 2 ;TO 4 EXT.P3 TRUE COPY OF THE DEMAND NOTICE DATED 2.3.2006 ISSUED BY THE 7TH RESPONDENT UNDER SECTION 7 OF THE RR ACT. EXT.P4 TRUE COPY OF THE DEMAND NOTICE DATED 2.3.2006 ISSUED BY THE 7TH RESPONDENT UNDER SECTION 34 OF THE RR ACT. EXT.P5 TRUE COPY OF THE PLAIN IN OS 932 OF 2004 ON THE FILES OF MUNSIFF'S COURT, THRISSUR. EXT.P6 TRUE COPY OF THE WRITTEN STATEMENT IN OS 932 OF 2004 ON THE FILES OF MUNSIFF'S COURT, THRISSUR. 2ND RESPONDENT'S EXHIBITS: EXT.R2(a) TRUE COPY OF THE AGREEMENT DATED 12.7.99 BETWEEN THE PETITIONER AND RESPONDENTS 2 AND 4 ON THE ONE PART AND THIRD RESPONDENT IN SECOND PART. EXT.R2(b) TRUE COPY OF THE LETTER WRITTEN BY THE HUSBAND OF THE THIRD RESPONDENT TO THE FIRST RESPONDENT COMPANY. TRUE COPY P.S. TO JUDGE. C.N. RAMACHANDRAN NAIR, J. -------------------------------------------- W.P.C. NO. 7244 OF 2006 -------------------------------------------- Dated this the 24th day of October, 2008 JUDGMENT Writ Petition is filed challenging recovery proceedings for recovery of margin money loan availed by the first respondent, of which petitioner was the Managing Director. According to the petitioner he resigned as Managing Director in 1998 and thereafter second respondent became the Managing Director. However, counsel for the second respondent submitted that he also resigned later and third respondent took over the industry appointing her husband, addl. 9th respondent, as the Managing Director. It is seen that W.P.C. No. 23753 of 2005 filed in this Court which pertains to sales tax liability of the same company, was disposed of on 2.8.2007. In that W.P. the 9th respondent was the petitioner as Managing Director of the first respondent. In the circumstances, and in view of subsequent developments, there will be direction to the 7th respondent to proceed against 3rd respondent and addl. 9th respondent for recovery and if petitioner and respondents 2 and 4 or any other person is liable as 2 directors, third and ninth respondents are free to furnish details before the 7th respondent for proceeding for recovery against them also. In any case, the person liable will be identified by the 7th respondent and recovery should be completed within two months from now. Petitioner will produce a copy of this judgment before the 7th respondent for compliance. W.P. is disposed of as above. (C.N. RAMACHANDRAN NAIR) Judge kk 3