AQUADEV INDIA LTD Vs. STATE BANK OF HYDERABAD

JUDGEMENT

(1.) This complaint was earlier decided by this Commission (by a Three-Members Bench presided by the then President) vide an order dated 2.9.2004. The operative part of the said order reads as under:

(2.) It is in the above circumstances that this Commission is again seized of the complaint for its fresh adjudication.

(3.) Succinctly stated the case of the complainant as put form in the complaint is that complainant is a company registered under the Companies Act 1956. It is incorporated on 31.5.1993 with the objects of establishing and running aquaculture, pissiculture, brackish and fresh water culture, agriculture, horticulture, floriculture, sericulture, dairy, poultry farms, etc. and to grow cultivate, harvest marine and fresh water products of all kinds like prawn, shrimp, fish, crab, lobster and such other marine products and to process, prepare and buy and sell and deal with those products. It was supposed to be a 100% Export Oriented Integrated Shrimp Culture Project in the District of Prakasam in the State of Andhra Pradesh at Eathamukkala Village in Kothapatnam Mahdal, an industrially declared backward area, having potential to provide direct employment opportunity to about 400 workers and indirect employment opportunity to about 1,000 workers. To begin with, the project was promoted by three promoters having experience in varied fields of business, financial and agricultural arenas.