UNION OF INDIA Vs. M V DAMODAR

JUDGEMENT

(1.) ALL these suits have been filed by the Union of India and ICICI Bank Ltd. for recovery of different amounts advanced to the Defendants Nos.1 and 2 and for securing these amounts five vessels owned by the Defendant No.2 were mortgaged. The learned counsel appearing for both sides state that facts and law involved in these suits are identical and therefore all these suits can be disposed of by a common Judgment.

(2.) ALL these suits were originally filed by the Government of India's Shipping Development Fund Committee, a body constituted under the Unamended Merchant Shipping Act against the shipping company ' Damodar Bulk Carriers Limited' and each one of the above suits is directed against the vessels Damodar Krishna, Damodar Tanabe, Damodar Kaveri , Damodar Tasaka and Damodar Ganga . It may be mentioned here that the Merchant Shipping Act was amended and Part IV which dealt with the Shipping Development Fund and was omitted and under the amending Act, Shipping Credit and Investment Company of India Limited was appointed as the designated person in lieu of the Shipping Development Fund Committee. This was done by virtue of the Shipping Development Fund Committee (Abolition) Act, 1986. The Shipping Credit and Investment Company Limited changed its name to ICICI Limited and thereafter merged with Industrial Credit and Investment Corporation of India Limited, which changed its name to ICICI Limited and thereafter merged with ICICI Bank Limited. The record shows that at all stages appropriate Chamber Summons were taken out for amendment of the Plaint and as of now the Plaintiffs are the Union of India and ICICI Bank Limited. There is no dispute raised by any one with regard to this and all orders on the Chamber Summons make it clear that ICICI Bank has been substituted as Plaintiffs in all the above suits

(3.) WRITTEN statements have been filed on behalf of the Defendants Nos.1 and 2 as also by the defendant No.3.