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IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED 22.02.2021

CORAM

THE HONOURABLE MR. JUSTICE M. SATHYANARAYANAN

AND

THE HONOURABLE MR.JUSTICE A.A.NAKKIRAN

Rev.Application No.61 of 2020

in

W.M.P.No.2638/2019 in W.P.No.8084 of 2017

and

W.M.P.Nos.16151 & 16153 of 2020

V.Janarthanan

...Petitioner

Vs

1.K.Ramamurthy

2.V.Nagammal

3.A.Rosemary

4.R.Shanthi

5.S.Padhma

6.R.Saraswathi

7.H.Sujatha

8.D.Selvi

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9.V.Anitha

10.M.Alamelu

11.M.Parasuraman

12.P.N.Devaraj

13.B.Murugan

14.I.Tamilarasi

15.R.Panjavarnam

16.Sasikala.S

17.R.Sathya

18.V.Thilagavathy

19.K.Gunasundhari

20.K.Pushpa

21.Mrs.K.Jayanthi

22.The Securities Exchange Board of India,

Southern Regional Office at Overseas Towers,

7^th Floor, No.756-L, Anna salai,

Chennai 600 002.

23.The Inspector General of Registration,

No.100, Santhome High Road,

Pattinapakkam, Chennai 600 028.

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24.The Inspector of Police,

E.O.W-II, Viswanathapuram,

Madurai 625 104.

25.M/s.M.V.T.Anthonisami

The Secretary, Disc Asset lead India Ltd.,

Investors Welfare Association,

No.1-64-1, Main Road,

Vishwanathapuram, Shengottai,

Thirunelveli District.

26.V.Janardhanan

27.M/s.N.Arun

28.M/s.C.Srinivasan

29.M/s.M.N.Umashanker

30.M/s.S.Jeevalatha

31.M/s.T.Shyam Chander

32.M/s.Handiman Services Limited,

having its Branch Office at

F-4, SG, Vaibogam Apartments,

No.33/77, South Sivan Koil Street,

Vadapalani, Chennai 600 026.

rep.by its Authorised Signatory,

Mr.T.D.Vivekanandan.

...Respondents

PRAYER :-Review Petition filed under Order XXXXVII read with Section

114 C.P.C and Article 226 of the Constitution of India against the order

dated 15.04.20200 made in W.P.M.P.No.2638/2019 in W.P.No.8084 of

2017 passed by this Court.

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For Petitioner

: Mr.P.Bagyalakshmi

ORDER

[Order of the Court was delivered by M.SATHYANARAYANAN, J.,]

Heard the submission of Ms.P.Bhagyalakshmi, learned counsel

appearing for the petitioner and also perused the grounds of review.

2. The Hon'ble First Bench of this Court, vide order dated 11.10.2017

made in W.P.No.8084 of 2017 and 18371 of 2017, has taken note of the

events that took place and passed a detailed order, constituting a Committee,

headed by Hon'ble Mr.Justice N.Paul Vasanthakumar, retired Chief Justice

of the Jammu and Kashmir High Court and further ordered that the

Committee shall consist of two senior members, namely Mr.B.Kumar and

Mr.M.S.Krishnan, who have been assisting this Court as Amicus Curiae and

also Mr.C.Manishankar, learned Senior Advocate as learned Additional

Advocate General and also named the other member of the said Committee.

A perusal of the order would disclose among other things that the provisions

of the Tamil nadu Protection of Interest of Depositor (in Financial

Establishments) Act, 1997 ('TNPID Act') have also been taken into

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consideration and in paragraph no.21, it was observed that Section 7(8) of

TNPID Act also empowers the Special Court to issue directions for

equitable distribution of monies attached of realised out of the sale of the

properties among the investors / depositors. Such order is to be passed on

an application made by the competent authority.

3. Thereafter, the petitioner filed WMP.No.2638 of 2019 in

W.P.No.8084 of 2017, to modify the said order. In paragraph no.8 of the

order, this Court had taken note of the facts that the order dated 11.10.2017

in W.P.No.8084 and 18371 of 2017, was the subject matter of challenge in

S.L.P.(Civil)Diary No.44219 of 2018 and thereafter various orders came to

be passed and further taken note of the auction sale notification, observed

that after the order, for which modification has been sought for, very many

orders came to be passed and since much water has flown under the bridge,

expressed it's