M/S Radha Krishna Hi-Tech Agro Industries Pvt. Ltd. v. Punjab National Bank

IN THE HIGH COURT OF JUDICATURE AT PATNA

Civil Writ Jurisdiction Case No.3050 of 2022 ====================================================== M/s Radha Krishna Hi-Tech Agro Industries Pvt. Ltd. a company incorporated under the Companies Act through its Director Raj Kumar aged about 49 Years, Male, son of Late Gandhi Rai, resident of Bans Kothi, Gate No. 93, I.T.I Hostel, P.S. Digha, District - Patna.

... ... Petitioner/s

Versus

1.

Punjab National Bank through Circle Sastra Head, Circle Sastra Patna South, 2nd Floor, Chandrapura Palace, West Gandhi Maidan, Bank Road, P.S. Gandhi Maidan, District Patna.

2.

The Authorized Officer, Punjab National Bank, 2nd Floor, Chandrapura Palace, West Gandhi Maidan, Bank Road, P.S. Gandhi Maidan, District - Patna.

3.

The Branch Manager, Punjab National Bank, Bihta Branch, Patna. ... ... Respondent/s ====================================================== Appearance :

For the Petitioner/s :

Mr. Vinay Ranjan, Advocate For the Respondent/s :

Mr. Kumar Priya Ranjan, Advocate ====================================================== CORAM: HONOURABLE THE CHIEF JUSTICE and HONOURABLE MR. JUSTICE HARISH KUMAR ORAL ORDER (Per: HONOURABLE MR. JUSTICE HARISH KUMAR) 30-03-2022 Heard learned counsel for the petitioner and the respondents.

Petitioner has prayed for the following relief(s):- a. For issuance of a writ in the nature of certiorari for quashing the sale notice dated 22/01/22 and subsequent sale notice dated 9.2.2022 published in the local newspaper as contained in Annexure-4 series to this writ application whereby the respondent bank has given notice for sell of moveable assets

Patna High Court CWJC No.3050 of 2022(2) dt.30-03-2022 2/3 including plant and machinery of the petitioner for recovery of Rs.10,94,73,635.01.

b. For issuance of a writ in the nature of mandamus commanding the respondent bank to regularize the account of the petitioner company and forward the same to the Committee for Stressed Micro, Small and Medium Enterprises for suitable corrective action plan in accordance with the mandatory guidelines dated 17/03/16 issued by the Reserve Bank of India as contained in Annexure-5 to this writ application.

c. For issuance of a writ in the nature of mandamus commanding the respondent bank not to take any coercive action against the petitioner company or the secured asset for realization of loan amount till the aforesaid committee recommends suitable corrective action plan.

d. For any other relief/reliefs which may be deemed fit and proper by this Hon'ble Court."

Learned counsel for the petitioner, under instructions, states that, in view of the intervening developments, the petition may be permitted to be withdrawn.

Prayer allowed.

Petition is disposed of as withdrawn.

Patna High Court CWJC No.3050 of 2022(2) dt.30-03-2022 3/3 Interlocutory application(s), if any, shall also stand disposed of.

(Sanjay Karol, CJ) ( Harish Kumar, J) uday/- U