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Madras High CourtWP/19718/2009dismissed as infructuous

Subhiksha Trading Services Ltd v. Kotak Mahindra Bank Ltd.,

2022-12-01Honourable Mr Justice N. Sathish Kumar4 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 01.12.2022

CORAM:

THE HONOURABLE MR.JUSTICE N. SATHISH KUMAR W.P.No.6845 of 2017 & M.P.No.1of 2009 Subhiksha Trading Services Ltd Habib Complex, 2nd floor No.5 Durgabai Deshmuk road R.A.Puram Chennai-600 028 Rep by its Company Secretary M.Rathinakumar ... Petitioner Vs.

1. Kotak Mahindra Bank Ltd 7th floor, Dani Corporate Bank No.158, C.S.T.Road Kalina, Santacruz (E) Mumbai-400 098 2.Reserve Bank of India Fort Glacis Rajaji Salai Chennai-600 001 ... Respondents PRAYER: Writ petition filed under Article 226 of the Constitution of India praying to issue a Writ of Mandamus forbearing the first respondent from

proceeding with the proceedings against the petitioner on 25th September 2009 or on any subsequent date, to declare the petitioner as a willful defaulter as the proceedings are vitiated by fraud and are not held in accordance with the norms prescribed by the second respondent viz., the Reserve Bank of India.

For Petitioner : Mr.Prakash Goklaney For Respondents : Mr.H.Karthik Seshadri for M/s. Iyer and Thomas for R1 Mr.C.Mohan for M/s. King & Patridge for R2

O R D E R

Writ petition is filed seeking to forbear the first respondent from proceeding with the proceedings against the petitioner on 25th September 2009 or on any subsequent date, to declare the petitioner as a willful defaulter as the proceedings are vitiated by fraud and are not held in accordance with the norms prescribed by the second respondent viz., the Reserve Bank of India.

2. Learned counsel appearing for the respondents would submit that already proceedings has been initiated against the petitioner and recovery certificate also issued against the petitioner and the petitioner company is also liquidated, which is not been disputed by the learned counsel appearing for the petitioner.

3. In such view of the matter, this Writ Petition is dismissed as infructuous. There shall be no order as to costs. Consequently, connected miscellaneous petition is closed.

01.12.2022 kpr To Reserve Bank of India Fort Glacis Rajaji Salai Chennai-600 001

N. SATHISH KUMAR, J.

kpr & M.P.No.1 of 2009 01.12.2022