Harshad Vilas Satav v. Janata Sahakari Bank Ltd

16-WP.5818.2021 IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO. 5818 OF 2021 Harshad Vilas Satav } Petitioner

Versus

Janata Sahakari Bank Ltd., Pune } Respondents Mr. Purushottam G. Chavan with Ms. Sandhya Singh for the petitioner.

Mr. Vijay V. Chandavale for the respondent.

CORAM :- DIPANKAR DATTA, CJ & M. S. KARNIK, J.

DATE :- OCTOBER 28, 2021 PC :- 1.

The respondent bank issued a notice dated 20th August 2021 calling upon the petitioner, the borrower, to clear the outstanding dues together with interest before 31st August 2021 failing which the petitioner was threatened with inclusion of his name in the list of "willful defaulters". 2.

The aforesaid notice dated 20th August 2021 is challenged by the petitioner on the ground that the respondent bank has not followed the procedure prescribed by the "Master Circular on Willful Defaulters" circulated by the Reserve Bank of India by its letter dated 1st July 2015, being Exhibit-L to the petition.

J.V.Salunke,PS

16-WP.5818.2021 3.

Learned advocate representing the respondent bank submits that since the petitioner has failed to clear the outstanding dues till 31st August 2021, it shall now follow the procedure prescribed by paragraph 3 of the Master Circular. 4.

In view of such statement made by the learned advocate for the bank, we find no reason to keep this petition pending. 5.

The writ petition is disposed of accordingly expressing hope and trust that the respondent/bank shall, in taking steps against the petitioner, follow the Master Circular. There shall be no order as to costs.

6.

In the event the respondent bank observes the Master Circular in the breach, the petitioner shall be at liberty to pursue his legal remedy in accordance with law. SALUNKE J V (M. S. KARNIK, J.) (CHIEF JUSTICE) by SALUNKE J V Date: 2021.10.29 19:53:50 +0530 J.V.Salunke,PS