P.Pandiyan v. The Reserve Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 01.07.2020

CORAM

THE HONOURABLE Mr.JUSTICE R.SUBBIAH AND THE HONOURABLE Mr.JUSTICE KRISHNAN RAMASAMY W.P.No.8514 of 2020 and W.M.P.Nos.10298 and 10280 of 2020 P.Pandiyan M/s.Royce Infrstructures Pvt. Ltd., represented by its Managing Director, No.T1002, Metro Zone, Anna Nagar, Chennai - 40.

... Petitioner Vs.

1.Reserve Bank of India, represented by its Authorized Officer, 16th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai - 400001.

2.The Managing Director and Chief Executive Officer, Axis Bank, 6th Floor, Pandurang Budhkar Marg, Century Colony, Worlj, Mumbai - 400025.

3.The Deputy Vice President, Zonal Head, Axis Bank, No.82, Aalim Centre, Dr.Radhakrishnan Salai, Mylapore, Chennai - 600004.

4.The Authorized Officer, Axis Bank, RAC, Arcot Plaza, Old No.35, New No.165, Arcot Road, Kodambakkam, Chennai - 24.

` ... Respondents https://hcservices.ecourts.gov.in/hcservices/

Prayer: Writ Petition filed under Article 226 of the Constitution of India seeking issuance of a Writ of Certiorarified Mandamus calling for the records of the fourth respondent order dated 01.04.2020 and quash the same and consequently direct the respondent to implement the one time settlement scheme of Reserve Bank of India.

For Petitioner : Mr.G.Harihararun For Respondents: Mr.C.Mohan, Panel counsel for M/s.King and Patridge. for R1 Mr.R.Sreedhar for R2 to R4.

O R D E R

[The Order of the Court was made by R.Subbiah, J.] The learned counsel for the petitioner submitted that the matter could be referred for Mediation.

2. However, the learned counsel appearing for respondents 2 to 4 submitted that the challenge is only to 13(2) Notice issued under SARFAESI Act and therefore, the writ petition is not maintainable. The learned counsel also submits that if the petitioner is willing to come forward for settlement with a concrete proposal, the same will be considered by the Bank.

3. Recording the above submission, the Writ Petition is closed. No costs. Consequenty, connected MPs are closed. Sd/- Assistant Registrar(CS VI) //True Copy// Sub Assistant Registrar nvsri To 1.The Authorized Officer, Reserve Bank of India, 16th Floor, Central Office Building, Shahid Bhagat Singh Marg, Mumbai - 400001.

Writ Petition No.8514 of 2020 PP(CO) RMP(30/09/2020) https://hcservices.ecourts.gov.in/hcservices/