AI Overview...
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M/s. Merit Resorts Private Limited - Company Overview and Family Concern
Main points: Merit Resorts is a private limited company with family partners Mrs. Shalini, her husband Mr. Sarangapani, and their son Mr. Harshavardhan. It is involved in leasing properties, including to Merit International Education Foundation, and has engaged in loan agreements with banks. The company has faced legal issues related to loan defaults and possession notices.
References: Merit Resorts Pvt. Ltd. Represented by its Director S. Shalini Chennai VS Canara Bank Teynampet Branch & Another - Madras, Merit International Educational Foundation (Regd. ) represented by its Trustee M. R. Sarangapani VS The Authorized Officer, Canara Bank, Teynampet Branch, Teynampet & Another - Madras, Merit Resorts Pvt. Ltd. Rep. by its Director S. Shalini, Chennai VS Canara Bank, Teynampet Branch, Chennai & Another - Madras, Merit International Educational Foundation (Regd. ) represented by its Trustee M. R. Sarangapani VS The Authorized Officer, Canara Bank, Teynampet Branch, Teynampet & Another - Madras -
Loan and Security Arrangements
Main points: Merit Resorts executed security documents with banks, including depositing lease amounts in escrow accounts, and the company’s property was pledged as security for loans. The company and its representatives challenged recovery notices under SARFAESI Act, but their applications were dismissed.
References: Merit Resorts Pvt. Ltd. Rep. by its Director S. Shalini, Chennai VS Canara Bank, Teynampet Branch, Chennai & Another - Madras, S. Shaalini VS Debt Recovery Tribunal – I & Others - Madras -
Legal Disputes and Litigation
Main points: The company and its representatives, including Mrs. Shalini and Mr. Harshavardhan, have contested orders related to loan recovery and possession notices. There are allegations of forged documents and disputes over lease agreements related to hostel accommodation for Merit International Education Foundation. The DRT dismissed some applications challenging recovery proceedings.
References: Merit International Educational Foundation (Regd. ) represented by its Trustee M. R. Sarangapani VS The Authorized Officer, Canara Bank, Teynampet Branch, Teynampet & Another - Madras, S. Harshavardhan Reddy VS State rep. by The Additional Superintendent of Police - Madras, S. Shaalini VS Debt Recovery Tribunal – I & Others - Madras, Merit International Educational Foundation (Regd. ) represented by its Trustee M. R. Sarangapani VS The Authorized Officer, Canara Bank, Teynampet Branch, Teynampet & Another - Madras -
Property and Lease Arrangements for Educational Foundation
Main points: Merit Resorts offered approximately 150,000 sq. ft of property for hostel purposes to Merit International Education Foundation, with lease terms and rentals to be fixed later. The foundation's activities and property arrangements are linked to Merit Resorts’ operations.
References: Merit International Educational Foundation (Regd. ) represented by its Trustee M. R. Sarangapani VS The Authorized Officer, Canara Bank, Teynampet Branch, Teynampet & Another - Madras, S. Harshavardhan Reddy VS State rep. by The Additional Superintendent of Police - Madras, Merit Resorts Pvt. Ltd. Represented by its Director S. Shalini Chennai VS Canara Bank Teynampet Branch & Another - Madras -
Miscellaneous Insights
Main points: The company’s legal and financial issues include loan defaults, security enforcement under SARFAESI, and disputes over property and lease agreements. There are also references to procedural aspects such as seniority and merit-based promotions in banking contexts, indicating broader governance and administrative themes.
References: SURINDER KUMAR VS HIMACHAL GRAMIN BANK - Himachal Pradesh, M/S. MERIT RESORTS PRIVATE vs CANARA BANK - Madras, M/s.Sri Chandra Prabhu vs M/s.Merit Resorts P Ltd., - Madras
Analysis and Conclusion:
M/s. Merit Resorts Private Limited is primarily a family-run company involved in leasing and educational property arrangements, which has faced significant legal and financial challenges, including loan defaults and disputes over security and lease agreements. The company’s activities are intertwined with Merit International Education Foundation, and legal proceedings have consistently upheld bank recovery actions under SARFAESI. The case reflects typical issues faced by family-owned enterprises in managing property, finance, and legal compliance.
Search Results for "M s Merit Resorts"
2009 0 Supreme(Mad) 4892 • India - Madras
V.PERIYA KARUPPIAH, M.CHOCKALINGAM
Admittedly M/s.Merit Resorts Private Limited, the appellant herein, is a private limited company having three partners namely Mrs.Shalini, her husband Mr.Sarangapani and also their son Mr.Harshavardhan. Thus, it could be seen that it is a family concern. ... The said property was leased out to one M/s.Merit International Education Foundation. It was agreed that the loan was to be repaid in 84 monthly instalments. The lease amount was to be deposited in an account with the first respondent bank.
2009 0 Supreme(Mad) 3278 • India - Madras
ELIPE DHARMA RAO, M.VENUGOPAL
Merit Resorts Private Limited] - [Loan default, possession notice, sale notice, possession petition] - [Section 13(2), Section 13 ... M/s.Merit Resorts Private Limited Company on 24. 1998 and subsequently a Memorandum of Understanding for lease of Hostel accommodation on 24. 2009. ... 7. ... Merit Resorts Private Limited, represented by its Director Mrs. S. Shalini, again for the same relief of setting aside the order passed by the learned District Judge-cum-Chief Judicial Magistrate....
2009 0 Supreme(Mad) 3164 • India - Madras
K.CHANDRU
Merit International Education Foundation and the loan was to be repaid in 84 monthly installments. The lease amount was to be deposited in an escrow account with the first respondent Bank. The company also executed security documents in favour of the Bank. ... It was at this juncture, Harshavardhan and Merit International Educational Foundation represented by his father Sarangapani filed an application before the DRT in S.A.No.27 of 2006, challenging the notice issued under Section 13(2) of the SARFAESI Act. That application was dismissed by the DRT.
• India - Crimes
M.VENUGOPAL
Resorts Pvt. ... Resorts Pvt. ... The accused also furnished photocopies of forged portfolio statement of account number 734187 in respect of Merit Resorts Pvt. ... Conversely, it is the submission of the Learned Special Public Prosecutor for the First Respondent that the case in RC.2/E/2007 against M/s.Merit Resorts Pvt. ... Ltd., had offered 150000 sq. ft approximately of plinth area of Merit International Education Foundation for hostel accommodation of students on....
2016 0 Supreme(Mad) 3088 • India - Madras
M.VENUGOPAL
Merit Resorts Pvt. ... Shaalini had signed as Managing Trustee as per Merit Resorts Pvt. Ltd., had offered 150000 sq. ft approximately of plinth area of Merit International Education Foundation for hostel accommodation of students on completion of the project and the lease rentals will be fixed by Merit Resorts Pvt. ... The accused also furnished photocopies of forged portfolio statement of account number 734187 in respect of Merit Resorts#....
2009 0 Supreme(Mad) 1199 • India - Madras
V.DHANAPALAN, SUDHANSU JYOTI MUKHOPADHAYA
The petitioner, one of the Director and shareholder of Merit Resorts Pvt. ... Merit Resorts Pvt., Ltd., a company incorporated under the Companies Act. The said company obtained loan from Canara Bank, Chennai (hereinafter referred to as Bank) and having failed to pay the same, the Bank took steps u/s 13 (2) followed by Section 13 (4) of the SARFAESI Act against the company. ... Therefore, on merit, the petitioner has no case and, thereby, no interference is called for against the order passed by DRT as ....
2009 0 Supreme(Mad) 3284 • India - Madras
ELIPE DHARMA RAO, M.VENUGOPAL
Merit Resorts Private Limited Company on 24. 1998 and subsequently a Memorandum of Understanding for lease of Hostel accommodation on 24. 2009. ... 7. ... Merit Resorts Private Limited, the borrower company, represented by its Managing Director Mr. S. Harshavardhan as the first respondent and its Directors as respondents 2 to 6 and the present writ petitioner viz. M/s. Merit International Educational Foundation as the seventh respondent. ... Merit Resorts Private Li....
• India - Madras High Court
• India - Madras High Court
1990 0 Supreme(HP) 136 • India - Himachal Pradesh
KAMLESH SHARMA
instead of seniority-cum-merit, which was applicable to the post. 2. ... REGIONAL RURAL BANKS - PROMOTION - SENIORITY-CUM-MERIT - INTERPRETATION - GUIDELINES ISSUED BY NABARD - APPLICABILITY - SELECTION ... Banks, including a 50% quota for direct recruitment and 50% for promotion from Senior Clerk-cum-Cashiers based on seniority-cum-merit ... We find that though the guidelines indicated seniority- cum-merit basis, under the guise of implementing the guidelines the Gramin Bank resorts to applying the pr....
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