K.G.Denim Ltd v. The Reserve Bank Of India
IN THE HIGH COURT OF JUDICATURE AT MADRAS
Dated:20.03.2025 Coram:
THE HON'BLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY and W.M.P.Nos.725,726, 728 of 2025 M/s K.G.Denim Ltd.
Rep.by its Whole Time Director, Mr.R.Selvakumar, Then Thirumalai, Jadayampalayam, Mettupalayam, Coimbatore 641 302.
.. Petitioner /versus/ 1.The Reserve Bank of India, Central Office, 12th Floor, Shahid Bhagat Singh Marg, Mumbai 400 001.
2.Indian Bank, Rep.by its Chairman and Managing Director, 254-260, VP Raman Road, Royapettah, Chennai 600 014.
3.Indian Bank, Rep.by its Assistant General Manager, Mid Corporate Branch Coimbatore, 31, Variety Hall Road, Coimbatore 641 001.
4.Convenor, State Level Bankers' Committee, Indian Overseas Bank, Central Office, 763 Anna Salai, Chennai 600 002.
.. Respondents 1/8
Writ Petition has been filed under Article 226 of the Constitution of India praying to issue a Writ of Certiorarified Mandamus calling for records relating to the communication bearing Ref.No.MCB/CBE/KGDL/2024-25/Rest.Sanc./dated 05.12.2024 on the file of the third respondent in as far as in so far as fixing the cut off date for restructuring of account as per the SLBC guidelines under RBI relief package for natural calamities affected areas as 31.10.2024 and retaining the asset classification as on the cut off date viz., 31.10.
2024 and quash the same and consequently, direct the third respondent to implement the relief package as envisaged by the fourth respondent within a time limit to be fixed by this Hon'ble Court as per the Master Circular/Directions for relief measures by Banks in areas by natural calamities of the first respondent dated 02.07.2007 and 01.07.2015. For Petitioner :Mr.N.L.Rajah, Senior Counsel for Ms.J.Kifif Tonna Sharon For Respondents :Mr.C.Mohan, Asst.by Mr.A.Rexy Josephine for M/s King and Patridge for R1(RBI) Mr.Jayesh B.Dolia, Senir Counsel for M/s Aiyar & Dolia for R2 and R3 M/s V.
O R D E R
The writ petition is filed with a prayer calling for the records relating to the communication bearing Reg.No.MCB/CBE/KGDL/2024-25/Rest.Sanc/dated 05.12.2024 on the file of the third respondent namely the Indian Bank in so far as it fixes the cut off date for restructuring of the account as per SLBC guidelines under RBI relief package for natural calamities affected areas as 31.10.2024 and retaining the asset classification as on the cut of date viz., 31.10.2024 and quash the same.
2. When this writ petition along with the other batch of writ petitions came up for hearing, the learned Senior Counsel appearing on behalf of the petitioner made certain arguments and made clear certain apprehensions relating to the relief package, that is being granted by the third respondent Bank.
3. When the matter is being adjourned for arguments in all the matters and when the contesting parties are being arguing the matters, it is seen that in the instant case, specific apprehensions that are made by Mr.N.L.Rajah, learned 3/8
Senior Counsel appearing on behalf of the petitioner were communicated by the learned Senior Counsel appearing on behalf of the respondents Indian Bank in writing and by way of exchange of e-mails, replies were given by the Indian Bank. Even though it is the mail exchanged between the parties and their learned Counsels, the same is extracted hereunder for ready reference. 4/8
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4. The learned Senior Counsel for the petitioner submits that if the reply is given as such are complied with, the petitioner is satisfied the same. Since the third respondent have to implement the contents of the reply that is provided, the same can be implemented. The learned Senior Counsel for the Indian Bank submits that these are the replies that are provided by the concerned bank, as such, it will be implemented. Therefore, recording the same that the parties shall act in terms of the above reply, which is extracted above, this writ petition is disposed of. No costs. Consequently, connected Miscellaneous Petitions are closed. 20.03.2025 ari To, 1.The Reserve Bank of India, Central Office, 12th Floor, Shahid Bhagat Singh Marg, Mumbai 400 001.
2. The Chairman and Managing Director, Indian Bank, 254-260, VP Raman Road, Royapettah, Chennai 600 014.
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3.Convenor, State Level Bankers' Committee, Indian Overseas Bank, Central Office, 763 Anna Salai, Chennai 600 002.
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D.BHARATHA CHAKRAVARTHY,J.
ari and W.M.P.Nos.725,726, 728 of 2025 20.03.2025 8/8