Meghaaarika International Pvt Ltd v. Bank Of Baroda

$~A-16 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 5693/2020 MEGHAAARIKA INTERNATIONAL PVT LTD..... Petitioner Through Ms.Garima Sharma, Adv.

versus BANK OF BARODA ..... Respondent Through Mr.Brijesh Kumar Tamber, Adv.

CORAM:

HON'BLE MR. JUSTICE JAYANT NATH

O R D E R

% 27.08.2020 This hearing is conducted through Video Conferencing. CM No.20578-20579/2020 Exemption allowed, subject to all just exceptions. W.P.(C) 5693/2020 & CM No.20577/2020 This Writ Petition is filed by the petitioner seeking an appropriate direction to recall/withdraw the notice dated 6.8.2020 and other similarly placed communications, if any, classifying the account of the petitioner as Non-Performing Asset (NPA).

Learned counsel for the petitioner relies upon circular of RBI dated 23.5.2020 and clause 9 of the circular to plead that during the moratorium period the account could not be declared as NPA. I have heard arguments for some time.

Let respondent bank treat the present writ petition as a representation of the petitioner. Respondent bank will dispose of this representation by a speaking order within three weeks from today. A copy of the order will be communicated to the petitioner. In case, the petitioner is not satisfied with

the order of the respondent bank, liberty is granted to the petitioner to challenge the same as per law.

This order is passed without prejudice to the rights and contentions of the parties.

Nothing further survives in the petition. The petition is accordingly disposed of. All pending applications, if any, are also disposed of. JAYANT NATH, J AUGUST 27, 2020