Best And Crompton Engineering Projects Limited v. Central Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED :25.04.2025

CORAM

THE HONOURABLE MR.JUSTICE D.BHARATHA CHAKRAVARTHY Writ Petition No.11828 of 2025 & W.M.P.No.13395 of 2025 Best And Crompton Engineering Projects Limited., Rep By its Director, Mr.Ippagunta Seshagiri Rao, No.42, 1st Floor, Sterling Road, Nungambakkam, Chennai-600 034.

... Petitioner /versus/

1. Central Bank of India, Corporate Finance Branch, Rep By Its Asst.General Manager, Addison Buildings, No.803, Anna Salai, Chennai-600 002.

2.Corporation Bank, Rep By Its Deputy Zonal Manager, Zonal Office, Chennai.

3.Union Bank of India, (Formerly Andhra Bank), Zonal Office, Rep. By Its Zonal Manager, No.139, Prakasam Road, Mannadi Police Colony, George Town, Chennai-600 001.

... Respondents 1/4

Writ Petition has been filed under Article 226 of the Constitution of India praying to issue a Writ of Certiorari, calling for the records of the undated impugned forensic audit report in respect of the petitioner company obtained by the 1st respondent vide communication No.CO/GM/RECV/2013-14/3788, dated 28.02.2014 including the classification of the account of the petitioner company's accounts as fraud by respondent Nos.1 to 3 on 22.10.2014, 09.11.2017 and 08.03.2016 respectively that was reported to the Reserve Bank of India on the ground of arbitrariness, malice and unreasonableness and quash the same.

For Petitioner : Mr.S.Kamalakannan, for Ms.Jayasudha.K For Respondents : Mr.Anil Relwani.

O R D E R

The writ petition is filed by the petitioner Company namely, M/s.Best and Crompton Engineering Projects Limited. As on today, it is represented that the Company is under Liquidation and already CIRP has been appointed by the National Company Law Tribunal, Chennai.

2. Since, this writ petition is challenging the Forensic Audit Report, the CIRP will not be interested in challenging the same. Therefore, the writ petition originally filed by the Company, can no more be maintained, the same stands disposed of.

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3. It is needless to mention that if the individual Directors want to file separate writ petition as against terming the transaction as fraud, it will be open to them to do so.

Consequently, connected Miscellaneous petition is closed. There shall be no order as to costs.

25.04.2025 :Yes/No.

bsm To,

1. The Assistant General Manager, Central Bank of India, Corporate Finance Branch, Addison Buildings, No.803, Anna Salai, Chennai-600 002.

2. The Deputy Zonal Manager, Corporation Bank, Zonal Office, Chennai.

3. The Zonal Manager, Union Bank of India, (Formerly Andhra Bank), Zonal Office, No.139, Prakasam Road, Mannadi Police Colony, George Town, Chennai-600 001.

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D.BHARATHA CHAKRAVARTHY, J.

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