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Thyagappa & Ors vs Managing Director NGEF LTD. Karnataka State Industrial Investment And Development Corporation, Khanija Bhavan, Race Course Road, Bengaluru-560001

Karnataka High Court · Decided on 4 June 2026 · Citation: (2026) 06 KAR CK 0265

HON’BLE JUDGES
Jyoti M, J
RESULT
Allowed
CASE NUMBER
Company Application No. 76 Of 2026 In Company Petition No. 154 Of 2002
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Judgment

10 paragraphs · 331 words

Jyoti M, J

1.

Sri.Vishwanatha R.Hegde., counsel for the applicants has appeared in person.

Sri.Saji.P.John., counsel has appeared in person and undertakes to file power on behalf of the respondent.

Submission is noted. Office is directed to accept the vakalath filed by counsel Sri.Saji.P.John.

2.

The application is filed seeking following relief:

"The applicants pray that this Hon'ble Court may be pleased to direct the respondent to calculate and pay interest @ 4% p.a. on the amounts due and paid to the applicants /ex-employees on account of their voluntary retirement from the Company M/s. NGEF Ltd. towards superannuation amount, from the date of winding-up order i.e., 03.08.2004 till the date of payment and grant such other and further reliefs as are just"

3.

Counsel for the respective parties urged several contentions. Heard the arguments and perused the papers with care.

4.

Suffice it to note that the Division Bench disposed of the OSA No.12/2022 on 21.06.2023. Thereafter, a Review Petition was filed in No.368/2023 and the same came to be dismissed on 16.02.2024. Pursuant to the disposal of the OSA by the Division Bench, the Company Application is filed to direct the respondent to calculate and pay the interest at 4% per annum on the amounts due and paid to the applicants /ex- employees on account of their voluntary retirement from the Company M/s.NGEF Ltd. towards superannuation amount, from the date of winding-up order i.e., 03.08.2024 till the date of payment.

Perused the application with utmost care. Because of disposal of OSA by the Division Bench, this Court deems it proper to direct the respondent to calculate and pay the interest at 4% per annum on the amounts due and paid to the applicants /ex-employees on account of their voluntary retirement from the Company M/s.NGEF Ltd. towards superannuation amount, from the date of winding-up order i.e., 03.08.2024 till the date of payment within eight weeks from the receipt of certified copy of this order.

5.

Resultantly, the Company Application is allowed.