K.V.Mugundan v. Reserve Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 10.06.2024

CORAM

THE HONOURABLE DR.JUSTICE ANITA SUMANTH & WMP.Nos.8482 and 13011 of 2024 K.V.Mugundan .... Petitioner Vs 1.Reserve Bank of India Represented by its, Chief General Manager-In-Charge, Department of Banking Supervision, Centre I, World Trade Centre, Mumbai 400 005 2.Tamilnad Mercantile Bank Ltd.

Rep by its Managing Director And CEO Registered Office at, No.57, V.E.Road, Tuticorin, Tamil Nadu - 628 002.

.... Respondents Prayer: Petition filed under Article 226 of the Constitution of India praying to issue a Writ of Mandamus directing the 1st respondent to immediately approve anyone of the names from the panel for appointment of Managing Director and Chief Executive Officer sent by 2nd respondent on 22.11.2023.

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For Petitioner : Mr.T.V.Lakshmanan For Respondents : Mr.C.Mohan - R1 No appearance - R2

O R D E R

The Writ Petition is listed today under a special list, as what was listed is only the Miscellaneous Petition seeking amendment of the prayer.

2. The prayer of the petitioner is for a mandamus directing the Reserve Bank of India to approve any one of the names from the panel for appointment as Managing Director and Chief Executive Officer of Tamilnad Mercantile Bank Ltd.

3. The Writ Petition has been instituted on 13.03.2024. Mr.C.Mohan, learned counsel for R1 states that pending Writ Petition, the Reserve Bank of India has passed an order dated 12.04.2024 rejecting the entirety of the panel.

4. The grievance of the petitioner is that the process would have to be commenced all over again from scratch. The stage as of now is that R2 has called for applications.

5. This fact is conveyed by learned counsel for R1 as there is no appearance for R2 despite service having been complete and description 2/4

being printed in the cause list.

6. Be that as it may, with the order passed on 12.04.2024 rejecting the panel, this Writ Petition is rendered infructuous and the same is closed. It is now for R2 to pursue the matter before R1 and the entirety of the procedure will be completed by R1, expeditiously, and in any event, within the prescribed statutory timelines. No costs. Connected Miscellaneous Petitions are dismissed.

10.06.2024 Sl Index:Yes/No Speaking order:Yes/No To 1.Reserve Bank of India Represented by its, Chief General Manager-In-Charge, Department of Banking Supervision, Centre I, World Trade Centre, Mumbai 400 005 3/4

Dr.ANITA SUMANTH,J.

sl & WMP.Nos.8482 and 13011 of 2024 10.06.2024 4/4