Madras High CourtWP/12668/2016dismissed

M/S.Sri Amman Wind Systems v. The Reserve Bank Of India,

2016-04-06Honourable Mr Justice M. Venugopal,Honourable Mr Justice Satish K. Agnihotri3 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 06.04.2016

CORAM:

THE HON'BLE MR.JUSTICE SATISH K. AGNIHOTRI AND THE HON'BLE MR.JUSTICE M. VENUGOPAL W.P.Nos.12668 and 12669 of 2016 and W.M.P.No. 11034 and 11035 of 2016 .....

M/s. Sri Amman Wind Systems Pvt. Ltd., rep. By its Director P. Jeeva, No.85/91 Varadarajapuram Main Road, Vanniya Teynampet, Chennai 600 018.

...Petitioner (In WP No.12668/2016)

M/s. Sri Amman Wind Systems Pvt. Ltd., rep. By its Partner P. Jeeva, No.85/91 Varadarajapuram Main Road, Vanniya Teynampet, Chennai 600 018.

...Petitioner (In WP No.12669/2016)

Vs.

1. The Reserve Bank of India Rep. by its General Manager, No.16 Fort Glacis Rajaji Salai, Chennai-600 001.

2. The Managing Director & CEO Tamil Nadu Mercantile Bank Ltd.

No.57 V.E. Road, Thoothukudi-628 002.

3. The Senior Manager Tamilnadu Mercantile Bank Ltd., Park Centre No.25 Venkata Narayana Road, T.Nagar, Chennai.

4. The Authorised Officer Tamilnadu Mercantile Bank Ltd. Chennai Regional Office Shenoy Nagar, Chennai.

.. Respondents (In both W.Ps.)

Writ petition in WP No. 12668 of 2016 filed under Article 226 of the Constitution seeking for the issuance of a writ of certiorarified mandamus calling for the records in relation to the proceedings of the 3rd respondent in his letter dt.09.03.2016 and quash the same and consequently direct the 2nd respondent to consider the Final Settlement request made by the petitioner vide letter dated 25.02.2016 for the Final Settlement of the loan accounts of the petitioner in line with the OTS policy dated 11.08.2015.

Writ petition in WP No. 12668 of 2016 filed under Article 226 of the Constitution seeking for the issuance of a writ of certiorari mandamus calling for the records in relation to the proceedings of the 3rd respondent in his letter dt.09.03.2016 and quash the same and consequently direct the 2nd respondent to issue 'No Due Certificate' to the petitioner since the loan accounts availed by the petitioner were already closed on 31.03.2015.

For Petitioner/s : Mr. P.L. Narayanan for M/s. A. Sam Arul Prasath For Respondents : Mr. V. Chandrasekaran - R2 to R4 - - - - - COMMON ORDER (Order of the Court was delivered by SATISH K. AGNIHOTRI,J.,) Mr. V. Chandrasekaran, learned counsel, accepts notice for the respondents 2 to 4. Notice to first respondent is dispensed with at this stage, inasmuch as no adverse order is passed against the first respondent in this writ petition. With the consent of the learned counsel for the petitioner and the learned counsel for the respondents 2 to 4, these writ petitions are taken of for final disposal at the admission stage itself. 2.

The writ petitions are filed seeking to quash the proceedings of the 3rd respondent in his letter dated 09.03.206 and consequently direct the second respondent to consider the final settlement request and also to issue ' No Due Certificate' as the petitioner has already closed the loan availed by him. 3.

It is brought to our notice that pending the securitisation appeal being S.A.Nos. 6 and 7 filed by the petitioner on the file of Debts Recovery Tribunal, Chennai, the petitioner has come up with these writ petitions questioning the legality and validity of the communication dated 09 March, 2016 wherein, its request for settlement was rejected.

4. Seemingly, feeling aggrieved by the rejection order, the petitioner being a borrower, has preferred appeals under Section 17 of the Act, which are pending consideration before the Debts Recovery Tribunal.

5. In such view of the matter, we are not inclined to interfere at this stage creating a second forum when the dispute is pending consideration before the Debts Recovery Tribunal, Chennai, which is competent to consider all the issues raised before them and grant interim relief, if necessary. Accordingly, these writ petitions are dismissed. No costs. Connected miscellaneous petitions are dismissed. ra.

Sd/- Asst.Registrar /true copy/ Sub Asst. Registrar To