TFL Case Adjourned To Amend Complaint Against Dilip Pendse

Mumbai, October 11: | Updated: Oct 12 2002, 05:30am hrs
In light of the prima facie findings of the Securities and Exchange Board of India (Sebi) and the submission of 34 box files of findings of the Economic Offences Wing (EOW) of the Mumbai police, Tata Finance Ltd (TFL) requested for, and was granted an adjournment to amend their civil case plaint against ex-TFL managing director Dilip Pendse and others at the cases hearing in the Mumbai High Court on Friday.

The company has also requested Justice DK Deshmukh for time to furnish their rejoinder, in response to affidavits filed by the defendents in the case. The next hearing has been postponed and will be held post the courts Diwali break on November 21, 2002. As per the request of TFLs lawyers, Iqbal Chaggla and D Khambatta, the ad-interim order disallowing Mr Pendse from selling or disposing of his immovable properties or operating certain bank accounts has been stayed. When contacted, Mr Pendses legal counsel Harihar Bhave said, TFL asked the High Court for more time to file their rejoinder and that request was agreed to by the honorable court.

TFL spokespersons did not wish to comment, stating that the case was sub-judice.

TFL had earlier filed a civil case in March 2002 against Mr Pendse and others seeking damages of Rs 423 crore. A further request for time to file the rejoinder had been requested in the previous hearing as well. The ex-TFL managing director was the prime accused in the TFL fiasco, wherein the company had accused him of criminal breach of trust, forgery, falsification of accounts and cheating.