Undivided share of Managing Director alone to be proceeded with- However, no attachment to be made with respect to undivided share of Petitioner.

Citation 

2013 (1) CTC 753 (Mad)

IN THE HIGH COURT OF MADRAS

S. Nagamuthu, J.

W.P. No.36530 of 2007.

October 19, 2012

N. Kanagasabai; Prasannadevi

Vs.

...Petitioner

State of Tamil Nadu, Rep. by Secretary to Government, Home Department, Fort St. George, Chennai-9; the District Revenue Officer (the Competent Authority Under Tnpid Act, 1997), Cuddalore District, Cuddalore

...Respondent

Tamil Nadu Protection of Interests of Depositors (in Financial Establishments) Act, 1997 (T.N. Act 44 of 1997), Section 3(11) Undivided share in property of Managing Director of

Establishment-Attachment of Authority attached property in which Managing Director had undivided share and another person held other undivided share-Held, undivided share of Managing Director alone to be proceeded with- However, no attachment to be made with respect to undivided share of Petitioner.

But, it could be seen that items 4 to 12 stand in the name of one Nataraja Pillai, who was the father of the Petitioner and one Balasundaram Mr. Balasundaram was the Financier and the Managing Director of the Financial Establishment. As it is crystal clear that in respect of items 5 to 12, Balasundaram has got undivided share, which can be proceeded with But, at the same time, it should be made clear that in respect of the undivided share of the 1st Petitioner these items, there can be no attachment and there can be no further proceedings Similarly, as far the items 14 & 15 are concerned, these two items are jointly in the name of the In Petitioner, Balasundaram and one Sekar Mr. Sekar is yet another accused in the case, who is now facing prosecution. Therefore, so far as the undivided share of Balasundaram and Sekar Gunasekar are concerned, there can be attachment and there can be further proceedings in respect of the same. But in respect of the undivided share of the 1st Petitioner in this Petition, there can be no attachment and there can be no further proceedings [Para 10]

For Petitioner: S. Ayyathural, Advocate for Petitioners.

For Respondent: R. Rajeswaran, Special Government Pleader assisted by N. Sakthivel, Government Advocate for Respondents,