- 1 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6TH DAY OF DECEMBER, 2025 BEFORE THE HON'BLE MS. JUSTICE TARA VITASTA GANJU COMPANY APPLICATION NO. 271 OF 2025 BETWEEN: 1. C K JAGANNATH S/O. KRISHNAPPA, AGED ABOUT 72 YEARS, RAJATHADRI NILAYA, 3RD MAIN ROAD, SIDDARAMESHWARA EXTN. WEST, BATAWADI, TUMKUR - 572 103 2. DEVAIAH, S/O. DEVAIAH, AGED ABOUT 69 YEARS, NO.778, 24TH CROSS, 36TH MAIN, IDEAL HOME, R.R.NAGAR, BENGALURU - 560 098. 3. K.P. NAGARAJA, S/O. K.S. PARAMESHWARAIAH AGED ABOUT 74 YEARS, NO.104, MAHAVEER FLORE APARTMENTS, KAMMAGHATTA ROAD, KENGERI, BENGALURU - 560 060. 4. M.NARAYANASWAMY S/O. MUNISWAMY, AGED ABOUT 73 YEARS, NO.695, 9TH CROSS, HENNUR CROSS, MARUTHI LAYOUT, KALYANAGAR, BENGALURU - 560 043. - 2 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 5. K. MURTHY, S/O. KRISHNAN, AGED ABOUT 71 YEARS, NO. 1-1, 2ND CROSS, AYYAPPA BLOCK, VANNARPET, VIVEKNAGAR, BENGALURU - 560 047. 6. A.V. VENKATESHA, S/O.A.N. VENKATASUBBALAH, AGED ABOUT 72 YEARS, NO. EWS 474, 7TH MAIN, BEHIND CHURCH, KENGERI SATELLITE TOWN, BENGALURU - 560 060. 7. M. BASAVARAJU, S/O.MUDLAIAH, AGED ABOUT 72 YEARS, NO.731, KRISHNANANDI ROAD, PIPELINE ROAD, SRINAGAR, BENGALURU - 560 050. 8. BALARAJU, S/O. RAMANACHARI, AGED ABOUT 77 YEARS, NO.695/A, 4TH MAIN, RAGHAVENDRA BLOCK, NEAR HDFC BANK, SRINAGARA, BENGALURU - 560 050. 9. N. JAGADEESHA, S/O.NANJAPPA, AGED ABOUT 72 YEARS, NO.4, 1ST CROSS, II STAGE, VINAYAKA LAYOUT, HEBBAL KEMPAPURA, H.A. FARM PEST, BENGALURU - 560 024. 10. K N RUDRANNA, S/O.NANJUNDAIAH, AGED ABOUT 79 YEARS, - 3 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 NO.1378, 9TH 'F' CROSS, 1ST PHASE, J.P.NAGAR, BENGALURU - 560 078. 11. METHUSALA JOY, S/O.K.M. SWAMY, AGED ABOUT 64 YEARS, NO.16/1, 1ST MAIN, MUDDAMMA GARDEN EXTENSION, BENGALURU - 560 046 12. G. RAMESH, S/O.M. GOPAL, AGED ABOUT 73 YEARS, NO.4, 3RD CROSS, RAMAIAH LAYOUT, ST. THOMAS TOWN POST, BENGALURU - 560 084. 13. A. ALEXANDER, S/O. ARULANATHAN, AGED ABOUT 67 YEARS, NO.5, 3RD MAIN, 2ND CROSS, AYYAPPA BLOCK, VIVEKNAGAR POST, BENGALURU - 560 047. 14. S.THULASIRAM, S/O.M. SELVARAJ, AGED ABOUT 67 YEARS, NO.12, H.MUTHYALAMMA KOIL STREET, SEPPINGI ROAD CROSS, SHIVAJINAGAR, BENGALURU - 560 001. 15. E.PANDYA S/O. M.R. EKAMBARAM, AGED ABOUT 64 YEARS, NO.333, 8TH CROSS, ANJANAPURA BDA LAYOUT, 4TH BLOCK, BENGALURU - 560 108. - 4 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 16. S.K.PUTTASWAMY, S/O.KALAIAH, AGED ABOUT 70 YEARS, NO.27B, 9TH CROSS, KALKERE ROAD, MANJUNATHA LAYOUT, RAMAMURTHY NAGAR, BENGALURU - 560 016. 17. T.MOHAN KUMAR, S/O.T.B.MENON, AGED ABOUT 70 YEARS, NO.50, 1ST CROSS, NSR ROAD, B.NARAYANAPURA, DOORVANINAGAR, BENGALURU - 560 016. 18. SHIVALINGAIAH, S/O ANKEGOWDA, AGED ABOUT 76 YEARS, NO.599, 2ND MAIN, RHCS LAYOUT, NAGARAVBHAVI, ANNAPOORNESHWARI NAGAR, BENGALURU - 560 091. 19. P.NAGARAJA, S/O.PUTTAPPA, AGED ABOUT 65 YEARS, NO.227, SAI NILAYA, ATTIBELE ROAD, MARIYAPPA BADAVANE, ANEKAL, BENGALURU-562 106. 20. D.SHANTH KUMAR, S/O.B.S.DEVADASS, AGED ABOUT 70 YEARS, NO.1729/A, NEW NO.2, JYOTHI NAGAR, ANNASANDRA PALYA, BENGALURU - 560 017. 21. HEMA HANUMANTHAIAH, S/O.CHENNIGARAYAPPA, AGED ABOUT 70 YEARS, - 5 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 NO.43/A, 7TH 'A' CROSS, 2ND MAIN, BASAVESHVARANAGAR, BENGALURU - 560 079. 22. P.PARAMESWARAN, S/O.PADMANABHAN, AGED ABOUT 73 YEARS, NO.28/29, 1ST FLOOR, 6TH 'B' CROSS, AKSHAYANAGAR, N.R.I. LAYOUT, RAMAMURTHYNAGAR, BENGALURU - 560 016. 23. B.R.INDRA KUMAR, S/O.B.P. RAJANNA, AGED ABOUT 70 YEARS, NO.478, 10TH CROSS, NGEF LAYOUT, MALLATHAHALLI, BENGALURU - 560 056. 24. M.NARASIMHA ACHARYA, S/O.ANANTHA ACHARYA, AGED ABOUT 73 YEARS, NO.839, FLAT G-2, SHIVAGANGA ETERNITY, 5TH MAIN, 2ND CROSS, UTTARAHALLI, CHANNASANDHARA MAIN ROAD, BENGALURU - 560 061. 25. S.MOHANVELU, S/O.K.SUBRAMANI, AGED ABOUT 72 YEARS, NO.36, 7TH CROSS, T.C. PALYA MAIN ROAD, DOORVANINAGAR, BENGALURU - 560 016. 26. B.YUVARAJU, S/O.K.RANGASWAMY, AGED ABOUT 71 YEARS, NO.1624, 3RD MAIN, JUDICIAL LAYOUT, G.K.V.K. POST, BENGALURU - 560 065. - 6 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 27. S.RAVINDRANATH, S/O.K.SRIRAMULU, AGED ABOUT 74 YEARS, NO.72, 18TH MAIN, 2ND BLOCK, BSK I STAGE, BENGALURU - 560 050. 28. M .K.KRISHNA KUMAR, S/O.M.S.KUTHADI, AGED ABOUT 75 YEARS, NO.4, OLD NO.34, 4TH CROSS, 'B' STREET, MALLESHWARAM, BENGALURU - 560 003. 29. M.N.NAGARAJ, S/O.M.V.NARASIMHAIAH, AGED ABOUT 74 YEARS, NO.85, 5TH MAIN, MARUTI LAYOUT, BTM I STAGE, BENGALURU - 560 029. 30. K.MOHAN RAJ, S/O.G. KRISHNASWAMY, AGED ABOUT 64 YEARS, NO. 149, 3RD CROSS, NEAR MARUTI VIDYALAYA, ERAPPA LAYOUT, BENGALURU - 560 043. 31. NARASIMHA, S/O. RANGAPPA, AGED ABOUT 73 YEARS, NO.565, 6TH CROSS, VIDYAMANYA NAGAR, ANDRAHALLI, BENGALURU - 560 091. 32. A.J.S.KARUNAKARAN S/O. R. ANTONY SWAMY, AGED ABOUT 67 YEARS, NO. 122, II 'B' CROSS, OMBR LAYOUT, BANASWADI MAIN ROAD, BENGALURU - 560 042. - 7 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 33. A. JOHN, S/O.AROKIA SWAMY, AGED ABOUT 68 YEARS, NO.75, 10TH MAIN, 12TH CROSS, NANDANAM COLONY, HORAMAVU, BENGALURU - 560 043, 34. A.RAJENDRA PRASAD, S/O. P. ANNAMALAI, AGED ABOUT 69 YEARS, NO.308, 8TH D MAIN, SRINIDHI LAYOUT, VIDYARANYAPURA, BENGALURU - 560 097. 35. MUNIRAJU, S/O.VEERAPPA, AGED ABOUT 77 YEARS, NO.956, 1ST BLOCK, 15TH MAIN, 2ND CROSS, 3RD STAGE, BASAVESHWARANAGAR, BENGALURU - 560 079. 36. P. IGNATIUS, S/O. PAPPAIAH, AGED ABOUT 82 YEARS, NO.443, KHB COLONY, 5TH BLOCK, KORAMANGALA, BENGALURU - 560 095. 37. Y.NARAYANA, S/O. YALLAPPA, AGED ABOUT 68 YEARS, NO.9, 4TH CROSS, MUNESHWARA LAYOUT, KRISHNAYYANA PALYA, BENGALURU - 560 038. 38. K.S.CHANDRASHEKAR, S/O.K.A.SOMAPPA, AGED ABOUT 68 YEARS, - 8 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 NO.37, 1ST MAIN, INDIRAGANDHI STREET, A-NARAYANAPURA, BENGALURU - 560 016. 39. Y LOKANATH S/O. YELLAPPA, AGED ABOUT 77 YEARS, NO.8/1, P.M.LANE, S.P. ROAD, BENGALURU - 560 002. 40. K.R.MURUALIDHARA, S/O.K.R.RAJAGOPALA SHETTY, AGED ABOUT 71 YEARS, NO.99, 2ND MAIN, 6TH CROSS, KEMPEGOWDA NAGAR, BYADARAHALLI, BENGALURU - 560 091. 41. P.KENCHAIAH, S/O. PARASAIAH, AGED ABOUT 73 YEARS, NO.9/1, 20TH CROSS, K.R.AGRAHARA, BHUVANESHWARI NAGAR, BENGALURU - 560 023. 42. T.GANGAIAH, S/O. THAMMANNA, AGED ABOUT 70 YEARS, NO.238, 4TH MAIN, 4TH CROSS, KEMPEGOWDA NAGAR, T.DASARAHALLI, BENGALURU - 560 057. 43. R.NAGARAJA, S/O.RAMAIAH, AGED ABOUT 70 YEARS, NO.842, 1ST MAIN, 6TH B CROSS, KEMPEGOWDA NAGAR, T.DASARAHALLI, BENGALURU - 560 057. - 9 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 44. SMT. N. NALINI, W/O. D.NARAYANAN, AGED ABOUT 60 YEARS, NO.2, MUDDAPPA ROAD, M.S.NAGAR, BENGALURU - 560 033. 45. SMT.R.PADMA, W/O.LATE M.BASAVARAJ, AGED ABOUT 62 YEARS, NO.2062, CHELUVAIAH ROAD, RAMAMURTHY NAGAR, BENGALURU EAST. …APPELLANTS (BY SRI. VISHWANATH R. HEGDE, ADVOCATE) AND: 1. THE MANAGING DIRECTOR NGEF LTD. KARNATAKA STATE INDUSTRIAL INVESTMENT AND DEVELOPMENT CORPORATION, KHANIJA BHAVAN, RACE COURSE ROAD, BENGALURU - 560 001. …RESPONDENT (BY SRI. B. RAJASHREE, ADVOCATE SRI. SAJI P. JOHN, ADVOCATE (NGEF)) THIS APPLICATION IS FILED UNDER RULE 179 READ WITH RULES 6 AND 9 OF THE COMPANIES (COURT) RULES, 1959 PRAYING THIS HONBLE COURT TO DIRECT THE RESPONDENT TO CALCULATE AND PAY INTEREST @ 4 PERCENT 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 ETC. - 10 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 THIS APPLICATION COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MS. JUSTICE TARA VITASTA GANJU ORAL ORDER CA No.271/2025: 1. The office objections are over-ruled. 2. Learned counsel for the applicant Mr.Vishwanath R. Hegde, at the outset states that C.A.Nos.244/2024 and 282/2024 have already been disposed of on 14.11.2024 and that they may be deleted from the list of pending IAs. 2.1. The Registry to delete these applicants. 3. Sofar as C.A.No.271/2025 is concerned, the prayers in the application read as follows; "WHEREFORE, 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." - 11 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 4. Learned counsel for the applicant submits that pursuant to similar applications filed, an order was passed on 09.06.2022 by this Court, giving certain directions of payment of interest. That order was taken up in appeal by the State and was partly modified by the Division Bench of this Court on 21.06.2023. He seeks to rely upon these orders. 5. Learned counsel submits that the applicants in the present case are similarly placed as the applicants in C.A.No.467/2021 and thus, the order could be made applicable to them as well. 6. Learned counsel for the company in liquidation submits that she has no objection if the prayers in the present case application are allowed even that the Division Bench has already given the orders passed by this Court previously. The following directions are passed; ORDER i. The Company Application is allowed in part. - 12 - HC-KAR NC: 2025:KHC:51478 CA No. 271 of 2025 ii. The Company is directed to make payment of interest at the rate of 4 per cent from the amount adjudicated by the Official Liquidator which shall be payable from the date of winding up of the company till the date of payment. iii. The applicants are permitted to furnish a copy of this order along with calculation of the due amounts in respect of each of the applicants, along with the account details to which the Company can transfer the amount by way of RTGS or otherwise. iv. The Company shall act on a print out of the uploaded copy of this order without waiting for a certified copy thereof. v. In the event of the Company having any doubt over the order, the Company could always contact its counsel and verify the same from the website of this Court. The application is disposed of. (TARA VITASTA GANJU) JUDGE GH CT-SG Digitally signed by TARA VITASTA GANJU Location: HIGH COURT OF KARNTAKA