M/S. Mallur Siddeswara Spinning Mills Pvt Ltd., v. The Ministry Of Finance
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 10.08.2021 CORAM :
THE HON'BLE MR.SANJIB BANERJEE, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE P.D.AUDIKESAVALU W.P.No.16493 of 2021 M/s. Mallur Siddeswara Spinning Mills Pvt Ltd., Rep by its Authorised Signatory, Kashasai E., Attyampatty Road, Athanur Post, Salem 636 121.
...Petitioner
-vs1 The Ministry of Finance Rep. by the Secretary, Finance Ministry, Govt. of India, Rajpath Marg, E Block Central Secretariat, New Delhi 110 011.
2 The Ministry for Micro Small and Medium Enterprises, Rep. by its Secretary, Room No.356A, Udyog Bhavan, Rafi Marg, New Delhi 110 011.
3 The Reserve Bank of India Rep. by its Secretary, Banking Department, Finance department, Government of India, 3rd Floor, Jeevan Deep Building, Sansad Marg, New Delhi 110 001.
4 The Micro Small and Medium Enterprises Rep by Joint Director and Head of Office, Government of India, Micro small and Medium Enterprises Bhavan, 65/1, GST Road, Guindy, Chennai 600 032.
5 The Reserve Bank of India Rep by Regional Director for Tamilnadu, St. Fort Glacis, Rajaji Salai, PB No. 40, Chennai 600 001.
6 Karnataka Bank Ltd Rep by its Chief Manager, No.160, Ground Floor, Sri Sai Kamatchi, Opp Government Arts College, Cherry Road, Salem 636 007.
(RR 1 to 5 deleted as per order dt.
10.8.2021 in WP.No.16493/2021)
...Respondents
Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus directing the respondents herein to consider the representation dated 10.06.2021 and take steps for restructuring of loans of the petitioner considering the company within the ambit of the Covid 19 Regulatory Circulars issued by the RBI.
For Petitioner :
Ms.G.Josephine Shreela for Mr.S.V.Pravin Rathinam
ORDER
(Made by the Hon'ble Chief Justice) The petition is as misconceived as they come and there is no shred of merit therein. To boot, the petitioner has unnecessarily added the first, second, third, fourth and fifth respondents as parties when there was no need therefor. The names of the first five respondents are deleted from the array of parties.
2. The petitioner seeks a direction on the sixth respondent secured creditor to consider the petitioner's representation issued in response to a notice issued by the sixth respondent under Section 13 (2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. The petitioner claims that by virtue of its status as an MSME unit - though Advocate for the petitioner cannot indicate whether the unit is a micro or a small or a medium enterprise - it is entitled to special consideration.
3. In the scheme of Section 13 of the Act of 2002, a noticee in receipt of a notice under Section 13 (2) of the Act may cite any defence, which the secured creditor is then obliged to consider and respond to. However, neither the defence indicated nor the secured creditor's response thereto is immediately justiciable as the noticee has to await the secured creditor taking any measure under Section 13 (4) of the Act before the noticee may, as a person aggrieved, apply to the jurisdictional Debts Recovery Tribunal with its objection.
4. No writ can lie directing the sixth, now the sole, respondent to consider the representation or take any particular course of action since it is already the obligation of a secured creditor to consider a reply to a notice issued under Section 13
(2) of the Act by virtue of Section 13 (3A) thereof. W.P.No.16493 of 2021 is disposed of. There will be no order as to costs. Consequently, W.M.P.No.17466 of 2021 is closed. Sd/- Assistant Registrar(CO) //True Copy// Sub Assistant Registrar sra To:
1. The Secretary, The Ministry of Finance Finance Ministry, Govt. of India, Rajpath Marg, E Block Central Secretariat, New Delhi 110 011.
2. The Secretary, The Ministry for Micro Small and Medium Enterprises, Room No.356A, Udyog Bhavan, Rafi Marg, New Delhi 110 011.
3. The Secretary, The Reserve Bank of India Banking Department, Finance department, Government of India, 3rd Floor, Jeevan Deep Building, Sansad Marg, New Delhi 110 001.
4. The Joint Director and Head of Office, The Micro Small and Medium Enterprises Government of India, Micro small and Medium Enterprises Bhavan, 65/1, GST Road, Guindy, Chennai 600 032.
5. The Regional Director for Tamilnadu, The Reserve Bank of India St. Fort Glacis, Rajaji Salai, PB No. 40, Chennai 600 001.
Copy To
1. The Chief Manager, Karnataka Bank Ltd No.160, Ground Floor, Sri Sai Kamatchi, Opp Government Arts College, Cherry Road, Salem 636 007.
+2cc to Mr.T.V.Krishnamachari, Advocate, S.R.No.39261 W.P.No.16493 of 2021 MG(CO) RGA(16/08/2021)