V.Vincent Velankanni v. Union Bank Of India
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 22.04.2024 CORAM :
THE HON'BLE MR.SANJAY V.GANGAPURWALA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE J.SATHYA NARAYANA PRASAD V.Vincent Velankanni .. Petitioner in both WPs Vs 1.Union Bank of India, rep. by its Chief Manager & Authorised Officer, Avadi Branch, Plot No.6/PC3-4, TNHB, Behind Ponnu Super Market, Avadi, Tiruvallur-600 054.
2.Reserve Bank of India, rep. by its Chief General Manager & Secretary, Secretary's Department, 16th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai-400 001.
.. Respondents in both WPs Prayer in W.P.No.6868 of 2024: Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of certiorarified mandamus calling for the records of the demand notice dated 1.9.2023 with Ref.No.10141/NPA/VINCENT as well as the impugned sale notice dasted 8.2.2024 issued by the first respondent and quash all the
measures taken under Section 13 of the Act by declaring it as illegal, null and void thereby also directing the first respondent to restore possession of the property waiving all costs, charges and interest accrued from the date of classification of the home loan accounts as NPA until restoration of the same as "standard asset". Prayer in W.P.No.6725 of 2024: Petition filed under Article 226 of the Constitution of India seeking issuance of a writ of declaration declaring that para 4.2.7.1 of the Master Circulars - Prudential Norms of Income Recognition, Asset Classification and Provisioning pertaining to Advances dated 1.4.2022 and 1.4.
2023 issued by the second respondent to the extent that they treat secured and unsecured debts on equal footing for classification of facilities as Non-Performing Asset are ultra vires the Constitution of India, 1950. For the Petitioner : Mr.Clint Li Johny For the Respondents : Mr.Nirmal Roy Sanjeevi for respondent No.1 : No appearance for respondent No.2 COMMON ORDER (Order of the court was made by the Hon'ble Chief Justice) Heard Mr.Clint Li Johny, learned counsel for the petitioner; and, Mr.Nirmal Roy Sanjeevi, learned counsel for the first respondent.
2. Learned counsel for the petitioner seeks further time to
deposit the remaining amount of Rs.2.00 lakhs. The petitioner may deposit Rs.2.00 lakhs with the bank within one week.
3. Learned counsel for the bank submits that the sale could not take place.
In view of that, the purpose of the writ petitions does not survive. The writ petitions are disposed of. There shall be no order as to costs. Consequently, W.M.P.Nos.7666, 7667 and 7485 of 2024 are closed.
(S.V.G., CJ.) (J.S.N.P., J.) 22.04.2024 Index :
Yes/No :
Yes/No bbr
To 1.The Chief Manager & Authorised Officer, Union Bank of India, Avadi Branch, Plot No.6/PC3-4, TNHB, Behind Ponnu Super Market, Avadi, Tiruvallur-600 054.
2.The Chief General Manager & Secretary, Reserve Bank of India, Secretary's Department, 16th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai-400 001.
THE HON'BLE CHIEF JUSTICE AND J.SATHYA NARAYANA PRASAD,J.
bbr 22.04.2024