M/S Vikas Sales Corporation v. Reserve Bank Of India & ANR.

$~95 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 3056/2026 & CM APPL. 14719/2026-EX.

M/S VIKAS SALES CORPORATION ....Petitioner Through:

versus RESERVE BANK OF INDIA & ANR.

.....Respondents Through:

Mr. Abhinav Sharma, Adv for R1 Ms. Prabhsahay Kaur, SC, DDA with Ms. Nanda Devi, PC, Ms. Subra Sharma, Mr. Aditya Verma, Advs. for R2

CORAM:

HON'BLE MR. JUSTICE JASMEET SINGH

O R D E R

% 11.03.2026 CM APPL. 14719/2026 Exemption allowed, subject to all just exceptions. The application is disposed of.

W.P.(C) 3056/2026 1.

This is a writ petition filed under Article 226 of the Constitution of India seeking the following prayers:

"a) Issue a writ, order or direction in the nature of Mandamus, directing Respondent No. 2 - ICICI Bank, to forthwith process the Petitioner's request for remittance of delayed import payments in respect of the eight (08) Bills of Entry detailed in the present petition and to forward and represent the Petitioner's case before Respondent No. 1 - Reserve Bank of India, for grant of necessary approval in accordance with the provisions of the Foreign Exchange Management Act, 1999 and The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

applicable RBI rules, regulations, and circulars; b) Issue a writ, order or direction directing Respondent No. 1 - Reserve Bank of India to consider and decide the Petitioner's case for approval of delayed import remittance, upon representation by the authorised dealer bank, in a time-bound manner and in accordance with law;

c) Pass an order directing the Respondents to take a final decision on the Petitioner's request for remittance of delayed import payments within a fixed and reasonable time period, as may be deemed fit by this Hon'ble Court;..."

2.

Mr. Jain, learned counsel for the petitioner, states that the respondent No. 2 is required to process and put up the invoices of the petitioner before the respondent No.1 for remittance. The same has been pending with respondent No. 2 since 2024 and has not been done till date. 3.

For the said reasons, issue notice.

4.

Mr. Sharma, learned counsel accepts notice on behalf of the respondent No. 1 and states that petition can be disposed of by directing the needful to be done by respondent No. 2.

5.

Accordingly, it is directed that respondent No. 2 shall process and clear the 8 invoices of the petitioner and, if necessary, shall forward the same to respondent No. 1 for approvals/directions. 6.

The same shall be done expeditiously and in any case not later than 4 weeks.

7.

Thereafter, the petitioner shall remit the funds to overseas suppliers The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.

within 8 weeks thereafter.

8.

The petition is disposed of in aforesaid terms. 9.

In case the petitioner has any subsequent cause of action, the petitioner shall be at liberty to move the Court. JASMEET SINGH, J MARCH 11, 2026/AS The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above.