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IN THE HIGH COURT OF JUDICATURE AT MADRAS
N.SATHISH KUMAR
Maris Spinner Limited – Appellant
Versus
Union of India, Represented by the Joint Secretary Ministry of Textiles, New Delhi – Respondent
| Table of Content |
|---|
| 1. background facts of the case (Para 2) |
| 2. arguments of respondents regarding non-compliance with subsidy conditions (Para 3 , 4 , 5) |
| 3. petitioner's arguments regarding subsidy entitlement (Para 6 , 7) |
| 4. counterarguments by the third respondent bank (Para 8) |
| 5. court's observations on loan sanction and disbursement date (Para 9 , 9 , 10 , 11) |
| 6. clarifications on tufs scheme and responsibility of nodal agent (Para 12 , 13) |
ORDER :
Challenging the order of the second respondent dated 31.10.2018 rejecting the request of the petitioner to disburse the interest subsidy of 4% under TUFS, the present writ petition has been filed and also for a consequential direction to the third respondent for payment of Rs.1,97,36,557/- reflecting the Quarterly interest subsidy at 4% along with a delayed interest at 12% per annum to the petitioner.
2.a. The Petitioner is a company engaged in the manufacture of 100% cotton yarn (spinning mills) with an installed capacity of 49536 spindles has manufacturing units in the States of Tamil Nadu and Karnataka. In order to modernize its facilities, the petitioner availed a term loan of Rs.10,00,00,000/- from the 3rd respondent bank on 15.06.2010, wh
Eligibility for government subsidies under the TUFS scheme cannot be denied due to procedural lapses of the Nodal Bank, upholding the principle that accrued rights must be honored.
The main legal point established is that the entitlement to subsidies under the WBSSIS-2008 should be determined based on the specific provisions of the Scheme, and the refusal of subsidies based on ....
The court upheld the principles of promissory estoppel and legitimate expectation, ruling that the government must honor its prior subsidy commitments under the Transport Subsidy Scheme despite cance....
Subsidy claims under the Poultry Venture Capital Fund are contingent upon strict adherence to procedural guidelines; failure to comply negates entitlement, especially after scheme closure.
State bodies must adhere to principles of transparency and equality when administering subsidies; arbitrary denial of financial assistance for compliance with scheme terms violates constitutional rig....
The main legal point established in the judgment is that the fulfillment of conditions is essential for receiving government subsidies, and the doctrine of promissory estoppel may not apply if the co....
Point of law: Loans by financial institutions are granted from public money generated at the taxpayer’s expense. Such loan does not become the property of the person taking the loan, but retains its ....
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