- 1 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 4TH DAY OF JUNE, 2026 BEFORE THE HON'BLE MS. JUSTICE JYOTI M COMPANY APPLICATION NO. 76 OF 2026 IN COMPANY PETITION NO. 154 OF 2002 BETWEEN: 1. THYAGAPPA S/O. VENKATARAMAIAH, AGED ABOUT 74 YEARS, NO.001, RAMAIAH MANSION, CKB LAYOUT, MUNNEKOLALA, BENGALURU-560 037. 2. H.R.MALLIKARJUNAPPA, S/O. H.C.REVANNA, AGED ABOUT 71 YEARS, NO.22, NEAR TO RTO HOUSE, MUNISWAMAPPA LAYOUT, CHANNANAYAKANAPALYA, NELAKADIRANAHALLI, BENGALURU-560 073. 3. M.VENKATESH, S/O. MADAIAH, AGED ABOUT 69 YEARS, NO.16/2, 6TH CROSS, SIRSI ROAD, CHAMARAJPET, BENGALURU-560 018. 4. GIRIJA BAI, W/O. A.KUBENDRAN, AGED ABOUT 73 YEARS, NO.33, 1ST CROSS, Digitally signed by GEETHA P G Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 CAMBRIDGE LAYOUT, HALASURU, BENGALURU-560 008. 5. L.NAGARAJA, S/O. LAKSHMAIAH, AGED ABOUT 76 YEARS, NO.14/109, OLD TODDY STREET, BEHIND TALUK OFFICE, ANEKAL, BENGALURU-562 106. 6. RAMA MURTHY, S/O. N.APPAIAH, NO.06, RAJANNA GARDEN, VIRUPAKSHAPURA, OPP. MARAMMA TEMPLE, VIDYARANYAPURA POST, BENGALURU-560 097. 7. V.D.NATARAJAN, S/O. DHORASWAMY, AGED ABOUT 71 YEARS, THAGARAMANU MULA, KANGUNDI, CHITTOOR, ANDHRA PRADESH - 517 425. 8. A. KRISHNAPPA S/O. B.CHANNAPPA, AGED ABOUT 70 YEARS, NO.8-486, KANAKANAGARA, 1ST MAIN, V.V.EXTENSION, HOSKOTE, BENGALURU-562 114. 9. B.E. GAJENDRA RAO, S/O. ESHWARA RAO, AGED ABOUT 69 YEARS, NO.79, 4TH CROSS, 9TH MAIN, 1ST STAGE, 3RD BLOCK, NAGARABHAVI, BENGALURU-560 072. - 3 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 10. B. JOSEPH, S/O. BARNABAS, AGED ABOUT 64 YEARS, NO.4, 1ST A CROSS, 2ND MAIN, GOWTHAMAPURAM, HALASURU, BENGALURU-560 008. 11. SAVIO ASUNTHA RAJ, S/O. A.P. SUKIRTHARAJ, AGED ABOUT 70 YEARS, NO.39, PRABHU NILAYAM, 1ST CROSS, GUPTA LAYOUT, ULSOOR, BENGALURU-560 008. 12. M. NITHYANANDAN, S/O. R. MUNISWAMY, AGED ABOUT 76 YEARS, NO.24, 4TH CROSS, 1ST MAIN, SAMANAGOUDA LAYOUT, JOGUPALYA, ULSOOR, BENGALURU-560 008. 13. SMT. VASANTHA K.S., W/O. K.G.S. DESIKACHAR, AGED ABOUT 75 YEARS, NO.38, 4TH CROSS, AMARJYOTHINAGAR, BENGALURU-560 040. 14. B.V. PRASANNA VENKATARAMANA RAO, S/O. SRINIVASA RAO ANCHETI, AGED ABOUT 73 YEARS, NO. 146, 5TH A MAIN, 6TH CROSS, THYAGARAJANAGAR, BENGALURU - 560 028. 15. N. SHANKAR, S/O. NARAYANASWAMY, AGED ABOUT 73 YEARS, NO. 14, 7TH CROSS, LAKSHMIPURAM, HALASOORU, BENGALURU-560 008. - 4 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 16. G.VENKATESH, S/O. T.GUNDAPPA, AGED ABOUT 66 YEARS, NO.7, 7TH MAIN, KRISHNAMURTHY LAYOUT, HORAMAVU ROAD, RAMAMURTHY NAGAR, BENGALURU-560 016. 17. L. JAYASHANKAR, S/O. LINGAPPA S., AGED ABOUT 78 YEARS, NO.68, LIG 1ST STAGE, 4TH MAIN, KHB COLONY, BASAVESHWARANAGAR, BENGALURU-560 079. 18. R. SHANTHAMMA, W/O. M.H.MARIYAPPA, NO.6, 22ND MAIN ROAD, 50 FEET ROAD, T BLOCK, GIRINAGAR, BSK III STAGE, BENGALURU-560 085. 19. NARAYANA RAMPURA, S/O. NEELAKANTAPPA RAMPURA, NO.299-45/1, 9TH MAIN, 7TH CROSS, G.P.RAJARATNAM ROAD, HANUMANTHANAGAR, BENGALURU-560 019. 20. M.MUDDAIAH S/O. KEMPAIAH, AGED ABOUT 76 YEARS, NO.18, 2ND MAIN, 7TH CROSS, NANJAMBA AGRAHARA, CHAMRAJPET, BENGALURU-560 018. 21. R. GIRIJA SHANKAR, S/O. LATE P.RANGAIAH, AGED ABOUT 67 YEARS, - 5 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 NO.75, 20TH B MAIN, NEAR ISKCON, 1ST R BLOCK, RAJAJINAGAR, BENGALURU-560 010. 22. SMT. B.M. MANJULA, W/O. LATE M.NAGARAJA, AGED ABOUT 67 YEARS, NO.24, 3RD MAIN, 3RD CROSS, BANAGIRI NAGAR, BSK 3RD STAGE, BENGALURU-560 085. 23. T.N.RADHAKRISHNA, S/O. T.K.NARASEGOWDA, AGED ABOUT 68 YEARS, NO.4, 12TH A MAIN ROAD, PUTTAIAH ROAD, VRUSHABHAVATHI NAGAR, KAMAKSHI PALYA, BENGALURU-560 079. 24. ERAPPA, S/O. CHIKKANNA, AGED ABOUT 78 YEARS, NO.104, 2ND STAGE, SRI. SATHYANARAYANA LAYOUT, J.C. NAGAR, KURUBARAHALLI, MAHALAKSHMI PURAM, BENGALURU-560 086. 25. N. NIRMALA, W/O. LATE C.NARAYANASWAMY, AGED ABOUT 57 YEARS, NO.40, 1ST MAIN, 2ND CROSS, OLD GANGANAGAR, R.T.NAGAR POST, BENGALURU-560 032. 26. PADMA, W/O. SHESHACHALA, AGED ABOUT 63 YEARS, NO.108, FOREST LAYOUT, BEHIND INDIAN STATISTICAL INSTITUTE, KENGERI, BENGALURU-560 060. - 6 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 27. K.M. LALITHA, W/O. LATE T.RAMU, AGED ABOUT 67 YEARS, NO.50, 7TH B MAIN, 4TH BLOCK, GANESHA TEMPLE, JAYANAGAR, BENGALURU-560 041. 28. B. SINGRAIAH, S/O. GUDDAIAH, AGED ABOUT 75 YEARS, NO.13, NAGADEVANAHALLI, BENGALURU-560 056. 29. G. SRINIVASA, S/O. GIRIYAPPA, AGED ABOUT 48 YEARS, NO.408, 12TH MAIN ROAD, 8TH CROSS, RAGHAVENDRA BLOCK, SRINAGAR, BENGALURU-560 050. 30. R. MANJULA BAI, W/O. S.PADMANABHA RAO, AGED ABOUT 65 YEARS, NO.6, 1ST CROSS, TELECOM LAYOUT, SRIRAM APARTMENTS, THINDULU MAIN ROAD, VIDYARANYAPURA, BENGALURU-560 097. 31. SMT.SHAKUNTALA, W/O. SREERAM K, AGED ABOUT 62 YEARS, NO.571/1, 3RD CROSS, LNR GARDEN, KARIYANAPALYA, ST. THOMAS TOWN POST, BENGALURU-560 084. 32. SMT. C.V. GNANA SELVI, W/O. LATE V.S.SRIDHARAN, AGED ABOUT 66 YEARS, NO.18/1, MAHALAKSHMI FLATS B-4, MUTHUSWAMY STREET, SRINIVASA NAGAR, - 7 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 NEW PERUNGAIATHUR, CHENNAI-600 063. 33. SMT. LAKSHMIDEVI, W/O. P.K.NAGAPRAKASH, AGED ABOUT 63 YEARS, NO.168, SRI. MOOKAMBIKA, 4TH MAIN, JP NAGAR, BENGALURU-560 078. …APPLICANTS (BY SRI. VISHWANATH R. HEGDE, ADVOCATE) AND: THE MANAGING DIRECTOR NGEF LTD. KARNATAKA STATE INDUSTRIAL INVESTMENT AND DEVELOPMENT CORPORATION, KHANIJA BHAVAN, RACE COURSE ROAD, BENGALURU-560 001. …RESPONDENT (BY SRI. SAJI P. JOHN, ADVOCATE) THIS COMPANY APPLICATION IS FILED UNDER RULE 179 READ WITH RULES 6 AND 9 OF THE COMPANIES (COURT) RULES, 1959. THIS COMPANY APPLICATION IS LISTED FOR ORDERS, THIS DAY AN ORDER IS MADE AS UNDER: ORAL ORDER 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. - 8 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 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 - 9 - HC-KAR NC: 2026:KHC:26376 CA No. 76 of 2026 In COP No. 154 of 2002 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. SD/- (JYOTI M) JUDGE MRP List No.:1 Sl. No.:15