Annexure XIV Continued… - Edelweiss

Limited which employed the labourer. The Company has also received a notice under the Workmen
Compensation Act, 1923 from the Deputy Manager, Industrial Health and Security Department, Bilaspur for a
sum of ` 0.66 million to be paid to the dependents of said labourer. The sub-contractor has deposited the
compensation with the concerned authority.
A. Mr. Brij Behari Tandon
Criminal
Mr. Brij Behari Tandon, who is an Independent Director of our Company is also an independent director of
Birla Corporation Limited. A criminal complaint was filed against some directors of Birla Corporation Limited
including Mr. Brij Behari Tandon for the alleged commission of offences punishable under Sections
477A/409/406/120B of the Indian Penal Code read with Section 58A(6)(b)/ 149(2A) /209(5) /211(8) /217(5)
/221(4) /292(1)(b)/ 292A(11)/628/629A of the Companies Act before the Chief Metropolitan Magistrate,
Calcutta (“CMM”) on June 1, 2010. The CMM after taking cognizance transferred the matter to the
Metropolitan Magistrate, 10 th Court, Calcutta and on June 3, 2010 process was issued against the Birla
Corporation Limited and its directors. Challenging the order issuing process, a revision application was filed
by one of the accused before the learned City Sessions Judge, Calcutta. The said revision application was
allowed by an order dated February 28, 2011. The City Sessions Judge, Calcutta set aside the order issuing
process and remanded the case back to the Magistrate for fresh consideration. The matter is currently pending.
Civil
1. Corporate Debt Restructuring Proceedings
Dhampur Sugar Mills Limited (“Dhampur”) (where Mr. Brij Behari Tandon is an independent director) had
availed a lease facility of ` 73 million from Canara Bank for financing of certain equipments installed at its
Rauzagaon unit. The aggregate amount of lease rentals payable was ` 93.82 million from March 1997 during a
period of 84 months. The leasing transaction was restructured and the repayment period was extended from
2004 to 2008 with 12% rate of interest for the extended period. Dhampur started making payments to Canara
Bank as per the restructured schedule and pursuant to the sale of the aforesaid unit, it offered a foreclosure of
the leasing transaction which was also agreed by Canara Bank.
However, subsequently the same was declined by Canara Bank on June 24, 2006. The company continued to
pay and made full payment in terms of restructured schedule. Dhampur and its directors were declared as
willful defaulters by Canara Bank and their names were included in the willful defaulter list in May 2009. The
Corporate Debt Restructuring Empowered Group vide its letter dated December18, 2009 instructed the Canara
Bank to revoke its decision of declaring Dhampur and its directors as willful defaulters. Canara Bank has not
implemented the directions issued by the Corporate Debt Restructuring Empowered Group for removing the
name of Dhampur and its directors from the willful defaulters list. The matter is sub-judice before the Debt
Recovery Tribunal, Lucknow.
2. Birla Education Trust and others v. Birla Corporation Limited
Petition before the Company Law Board, Principal Bench, New Delhi
A petition has been filed against Birla Corporation Limited (“BCL”), its directors and other respondents in
CLB, Principal Bench, New Delhi under the provisions of sections 235, 237, 247, 250, 397, 398, 402 and 403
of the Companies Act on March 11, 2010 by Birla Education Trust and others. The petitioners have alleged
oppression and mismanagement in the affairs of BCL and have inter-alia sought interim relief by restraining
the directors of BCL from acting as directors and exercise of voting rights in BCL etc. The Company Law
Board, New Delhi vide its order dated February 9, 2011 has declined to grant interim relief. The final hearing
in the petition has not yet commenced.
3. Mr. Ram Kumar v. Oriental Carbon & Chemicals Limited
Case Ref. No. 227/008 before Industrial Tribunal Cum Labour Court, Gurgaon
Mr. Ram Kumar has filed a case against Oriental Carbons & Chemicals Limited (where Mr. Brij Behari
Tandon is an independent director), before Industrial Tribunal-Cum-Labour Court, Gurgaon. The worker has
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