High Court of DelhiW.P.(C)/7341/2019

M/S Supreme Alloys Ltd. v. Punjab National Bank

2019-07-29Hon'Ble Mr. Justice V. Kameswar Rao2 pages

$~3 * IN THE HIGH COURT OF DELHI AT NEW DELHI + W.P.(C) 7341/2019, CM No. 30618/2019 M/S SUPREME ALLOYS LTD.

..... Petitioner Through:

Mr. Saurabh Kirpal and Mr. Manohar Malik, Advs.

versus PUNJAB NATIONAL BANK ..... Respondent Through:

Mr. Abhinav S. Raghuvanshi, Adv.

and Mr. Prateek Tiwari, Adv.

CORAM:

HON'BLE MR. JUSTICE V. KAMESWAR RAO

O R D E R

% 29.07.2019 The present petition has been filed by the petitioner with the following prayers:

"In the light of above stated facts and circumstances, it is most respectfully prayed that this Hon‟ble Court may be pleased to:

a) issue a writ, order or direction in the nature of Certiorari for quashing and setting aside the illegal and premature action of Respondent Bank of declaring and classifying the Petitioner and its directors as „wilful defaulters‟ and further direct the respondent to remove the name of petitioner and its directors from the list of wilful defaulters dated 31.05.2019 published on the website of the respondent for being unconstitutional, arbitrary and against the principles of natural justice and in violation of RBI Master Circular dated 01.07.2015.

b) issue a writ, order or direction in the nature of mandamus directing the respondent not to declare and classify the petitioner and its directors as „wilful defaulters‟ or publish their name until the final decision of the Review Committee is pending.

c) pass any other or further order (s) as this Hon‟ble Court deems fit and proper in the interest of justice." One of the grounds of challenge as contended by Mr. Saurabh Kirpal, learned counsel for the petitioner is that before completing the process of declaring the petitioner as wilful defaulter, the respondent has notified the same on its website on May 31, 2019.

Learned counsel for the respondent on instructions conceding that the declaration as wilful defaulter could not have been put on its website prematurely, submits that on July 31, 2019, the declaration of the petitioner as wilful defaulter from its website shall be removed. He also states that further action shall be taken on the basis of the conclusion arrived at by the Review Committee.

Noting the same Mr. Kirpal states that the aforesaid submission shall satisfy the petitioner and the petition be disposed of. Ordered accordingly. CM No. 30618/2019 Dismissed as infructuous.

V. KAMESWAR RAO, J JULY 29, 2019/aky