1 CGHC010335162021 2026:CGHC:36948 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR WPC No. 5496 of 2021 1 - Krishna Nand Yadav S/o Late Mahaveer Prasad Aged About 70 Years R/o Village- Jhagarha, Tah. And District- Korba, Civil And Revenue Distt. Korba (C.G.) 2 - Smt. Vidya Yadav D/o Shri Krishna Nanad Yadav Aged About 33 Years R/o Village - Jhagarha, Tah. and Distt. Korba (C.G.) 3 - Smt. Manju Yadav D/o Shri Krishna Nanad Yadav Aged About 32 Years R/o Village- Jhagarha, Tah. And Distt. Korba (C.G.) ... Petitioner(s) versus 1 - Union of India Through- The Secretary, The Ministry of Corporate Affairs, Government of India, New Delhi 2 - M/s Golden Forests (India) Limited Through- The Chairman Cum Managing Director, M/s Golden Forests (India) Limited, Havind Registered Office At S.C.O. 834, Golden House, Manimajra (U.T.) Chandigarh (In Short- G.F.I.L.) 160022 3 - Smt. Vidya Adlakha Marketing Manager, Golden Forests (India) Limited, Mig 15, Dr. Rajendra Prasad Nagar, Kosabadi Korba, Tah. And Distt. Korba (C.G.) 4 - The Union Bank of India Through- Branch Manager, Sector 35 C, Chandigarh 160022 ... Respondent(s) For Petitioner(s) : Mr. Manoj Kumar Sinha, Advocate For Respondents No. 1 and 4 : Ms. Arpita Tiwari, Advocate on behalf of Mr. Bhupendra Singh, Advocate For Respondent No.3 : Ms. Sonia Kuldeep, Advocate VAISHALI LUCKY NAGARIA Digitally signed by VAISHALI LUCKY NAGARIA Date: 2026.08.24 10:51:09 +0530 2 Hon’ble Shri Justice Parth Prateem Sahu Order on Board 18/08/2026 1. This writ petition has been preferred by the petitioner under Article 226 of the Constitution of India, seeking following reliefs:- “10.1 That the Hon’ble Court be pleased to call for the entire records in connection of the petitioner's cases. 10.2 That Hon’ble Court be further pleased to direct the Respondent authorities to pay the invested amount of the petitioners vides guarantee-cum- performance deed dated 25.02.1997 with interest within limited period. 10.3 That Hon’ble Court be further pleased to direct the Official Liquidators to pay the amount of the petitioners which are invested in the Respondent Company with interest. 10.4 Any other order that the Hon’ble Court deems fit and necessary in the circumstances of the case be also passed. 10.5 That the cost of the petition be also awarded to the petitioners.” 2. Learned counsel for the petitioner submits that the respondent No.2 is a registered company under the provision of Companies Act 1956. Petitioner No.1 had invested sum of Rs.50,000/- with the respondent No.2 i.e., M/s Golden Forests (India) Limited and in view thereof, it was acknowledged by issuing the receipt which is marked as Ex.P/1 and the petitioners No.2 and 3 have also made investment of some of 3 Rs.25,000/-25,000/- each and the receipt in this regard is also issued. At the time of investment they were informed that the maturity amount will be Rs.1,11,00,000/- and Rs.5,55,000/-5,55,000/-respectively. According to the terms and condition, petitioner has also opened the bank account with the State Bank of India, Korba Branch (C.G.). Petitioner has submitted an application on 18.09.2020 for disbursement of the payment mentioning that according to the terms and conditions, the plan in which the amount is invested is matured however, the payment has not been released by the respondent No.2 i.e., M/s Golden Forests (India) Limited in his account, therefore, petitioner has filed this writ petition. He also contended that after filing of this writ petition, it came to the knowledge of the petitioners that the Hon’ble Supreme Court in case of National Investor Forum Vs. M/s Golden Forests (India) Limited decided on 18.06.2003 have issued guidelines to protect the interest of creditors, shareholders and the company. Thereafter, the committee of the M/s Golden Forests (India) Limited appointed by the Hon’ble Supreme Court vide order dated 26.08.2021 has issued an order directing the investors to file their claim for settlement along with the relevant documents, hence the petitioners have filed this writ petition, but till date they have not submitted their claim before the committee. 3. Learned counsel appearing for the respective respondents submits that they have not file their reply till now. 4. I have heard learned counsel for the parties and perused the documents. 5. Grievance of the petitioners is that petitioners have made investment in the M/s Golden Forests (India) Limited and the assured maturity amount has not been disbursed in their account after maturity of their plan. The Hon’ble Supreme Court in aforementioned case have issued a direction for appointment of the provisional liquidator and further directed that the provisional liquidator will fulfill the terms and 4 conditions of scheme for settlement of the claim of the investors,. Specially keeping in view the interest of small investors, the document Annexure-P/8, which is enclosed along with the application for amendment to show that the committee - M/s Golden Forests (India) Limited, “appointed by the Hon’ble Supreme Court of India” had passed the order on 26.08.2021, pursuant to the order passed by the Hon’ble Supreme Court, committee had made following observation:- The investors seeking settlement of land can still file a claim before the Committee. Claim shall be honoured if the claimant is able to show:- a) Original or Notarized copy of the receipt issued by the Company, or b) Some proof of payment of the invested amount from their bank account to the Company. 6. When this Court pose a question to learned counsel for the petitioner with regard to the submission of the claim, pursuant to the order of the committee, he fairly submitted that according to his instructions till date petitioners have not submitted their claim before the committee. 7. As the steps have already been taken by the company constituted by the Hon’ble Supreme Court. Pursuant to the orders and direction issued have already taken a steps for settling the claim of the investors, in the opinion of this Court, no purpose will be served in keeping this petition pending seeking reply for the respondents, but it will be in the interest of the petitioners, if the writ petition is disposed of reserving liberty with the petition to submit claim before the committee. 8. Accordingly, this writ petition is disposed of permitting the petitioner to submit the claim pursuant to order dated 26.08.2021 before of the committee constituted by the Hon’ble Supreme Court, along with the requisite documents as mentioned therein and if such a claim is 5 submitted by the petitioners, the concerned committee shall consider and take decision in accordance with law. 9. With aforesaid observation, direction and without expressing any opinion on the merits of the case, the writ petition stands finally disposed of. No cost. Sd/- (Parth Prateem Sahu) Judge Vaishali