Hardik Valia v. State Bank Of India

29-OSWPL-6313-2023+.DOC Shephali

IN THE HIGH COURT OF JUDICATURE AT BOMBAY

ORDINARY ORIGINAL CIVIL JURISDICTION WRIT PETITION (L) NO. 6313 OF 2023 Hardik Valia

...Petitioner

Versus

State Bank of India & Anr

...Respondents

WITH WRIT PETITION NO. 1094 OF 2023 Hardik Valia

...Petitioner

Versus

State Bank of India & Anr

...Respondents

Mr Jaideep Singh Khattar, with Rohit Balani, i/b the Fort Circle, for the Petitioners in both matters.

An Advocate, for the Respondent-State Bank of India.

CORAM

G.S. Patel & Neela Gokhale, JJ.

DATED:

26th April 2023 PC:- SHEPHALI SANJAY MORMARE SHEPHALI SANJAY MORMARE Date: 2023.04.27 11:03:49 +0530 1.

On instructions learned Advocate for the State Bank of India states that the impugned show cause notice and resultant orders of the Wilful Defaulters Identification Committee and Review Committee will stand withdrawn in view of the decisions of the 26th April 2023

29-OSWPL-6313-2023+.DOC Supreme Court in Jha Developers and Rajesh Agrawal. However, liberty is sought to initiate fresh proceedings. 2.

It goes without saying that any fresh proceedings must be strictly in accordance with law and that includes and must include the law as declared by the Supreme Court. The State Bank of India has communicated its orders to Credit Rating Agencies. Within one week from today it must write to Credit Rating Agencies saying that they are withdrawn its show cause notices and its orders. 3.

In any case, the Petitioners are at liberty to send an authenticated copy of this order to the Credit Rating Agencies. 4.

The Writ Petitions are disposed of in these terms. No costs. (Neela Gokhale, J) (G. S. Patel, J) 26th April 2023