gayatri projects limited - Edelweiss

GAYATRI PROJECTS LIMITEDLakhs for delivery of shares. Gayatri Capital Limited denied the allegation that the complainant purchased the shares throughthem by investing Rs. 3,50,723.85 and kept Rs. 30,000/- margin money. Consequently A.P. State Commissioner DisputesRedressal Commission allowed appeal and the order of District forum passed in CD No. 7 of 2001, dated 09.12.2002 wasdismissed in so far as it is against the appellants. No relief whatsoever is granted against Gayatri Capital Limited. Accordingly,the matter was disposed of vide order dated 07.03.2006. Now the complainant has approached the National ConsumerDispute Redressal Commission by filing Appeal (R.P. No.1679 – 1680/2006). The Hon’ble National Dispute RedressalCommission has issued Notice to Gayatri Capital Limited to appear on 18.01.2007.Ekonarayana vs. Gayatri Capital Limited (FA NO.1101/2005/ CC No.581/2004) at A P State Consumer forum,Hyderabad.The claimant has declared himself as a client of Gayatri Capital Limited and has made a claim of sale proceeds amountingto Rs. 2.64 Lakhs. However, Gayatri Capital Limited denied the contention of the Complainant and preferred a petition underSection 482 of Cr.P.C. for quashing of the Complainant (Crl. P. no. 1081 / 2001). After appreciating the arguments of theGayatri Capital Limited, the Hon’ble High Court granted stay of the Trial Court proceedings as well as granted exemptionfrom personal appearance of accused (Representative of Gayatri Capital Limited).Outstanding Cases Filed against Gayatri Starchkem LimitedCriminal CasesPact Securities and Financial Service Ltd. vs. Gayatri Starchkem Limited & Anr. (C.R.L.A. 363 of 2004) at HighCourt of A.P., HyderabadThe applicant alleged that Gayatri Starchkem Limited issued cheques towards monthly lease rentals. Which were dishonoredon presentation of the same. Consequently, the applicant after issuing statutory notice filed a compliant u/s 138 of N.I. Act onthe file of 23rd M.M. City Criminal Court, Hyderabad. However, the said compliant was dismissed in default. Consequently,the applicant preferred the present appeal. The matter is pending for final arguments. Amount involved is Rs. 6.54 lakhs.Civil CasesEscorts Finance (EFL) vs. Gayatri Starchkem Limited & Ors (CRP 101 of 2005) at New DelhiThe Petitioner (Escorts Finance) claimed that they had supplied certain equipments under lease/hire purchase FinancingScheme, the amount under the Scheme was repayable by Gayatri Starchkem Limited in 60 installments. It further allegedthat the Gayatri Starchkem Limited failed to pay a few installments. Accordingly, the Petitioner appointed arbitrator to resolvethe disputes. The said appointment was challenged by the Gayatri Starchkem Limited. Accordingly, the arbitrator dismissedthe petition stating that the entertainment of the same was out of jurisdiction. Thereafter, Escorts Finance Limited approachedDistrict Judge, Tishazari Courts, Delhi. The Hon’ble Court dismissed the Petition U/s 11 (5) of Arbitration Act 1996 preferredby EFL. Consequently, EFL preferred the present CRP. The Hon’ble Court issued notice to Gayatri Projects Limited. Thematter is pending for adjudication.Escorts Finance vs. Gayatri Starchkem Limited & Ors (CRP 108 of 2005) at New Delhi.The Petitioner claimed that they supplied certain equipments on lease/hire purchase Financing Scheme, which was repayableby Gayatri Starchkem Limited in 60 installments. It further alleged that Gayatri Starchkem Limited failed to pay the agreedamount. The EFL appointed arbitrator to resolve the disputes. The said appointment was challenged by the Gayatri StarchkemLimited. Accordingly, the arbitrator dismissed the petition stating that the entertainment of the same was out of jurisdiction.Thereafter, EFL approached District Judge, Tishazari Courts, Delhi. The Hon’ble Court dismissed the Petition U/s 11 (5) ofArbitration Act 1996 preferred by EFL. Consequently, EFL preferred the present CRP. The Hon’ble Court issued notice toGayatri Projects Limited. The matter is pending for adjudication.Plasti-con Industry vs. Gayatri Starchkem Limited (38/1/5/35, dated: 5.0 at3.2005) Commissionerate of Industries,HyderabadThe Claimant supplied plastic barrels of Rs. 13.39 lakhs to M/s Gayatri Starchkem and further alleged that Gayatri StarchkemLimited failed and ignored to pay the said amount. However, Gayatri Starchkem alleged that some of the materials aredefective and disputed the payment payable by them. Consequently, the Claimant approached the A.P. Industry FacilitationCouncil for Arbitration which referred Gayatri Starchkem Limited to BIFR. Amount involved is Rs. 19.96 lakhs. The Hon’bleTribunal heard the arguments on preliminary issues i.e., jurisdiction of the Hon’ble Tribunal to adjudicate the matter and the156