Gtl Infrastructure Limited, v. Canara Bank,

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 23.03.2023

CORAM:

THE HON'BLE MR.JUSTICE M.DHANDAPANI and WMP.Nos.26522 to 26524 of 2018 GTL INFRASTRUCTURE LIMITED, Rep. by its Authorized Signatory, Door No.34/1DL, New No.403/ L, Samson Tower, 7th Floor, Pantheon Road, Egmore, Chennai - 600 008.

...Petitioner

vs.

1.

CANARA BANK, 112, J.C.Road, Bangalore - 560002, Karnataka.

2.

Union Bank Of India, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021, Maharashtra.

...Respondents

Writ Petition filed under Article 226 of the Constitution of India, to issue a Writ of Certiorari Mandamus calling for the records of the respondent No 1 in (1) Letter dated June 27, 2018 bearing No.PCB-BKC/ CR-GIL/283/2018-19/AG, (2) Letter dated July 13, 2018 bearing No.PCBBKC/CR-GIL/333/2018-19/AG, (3) Letter dated August 3, 2018 bearing No.PCB-BKC/CR-GIL/2018-19/SAN and (4) Letter dated August 4, 2018 bearing No.PCB-BKC/CR-GIL/422/2018-19/SAN, all pertaining to the debt 1/5

of the petitioner herein and to quash the same and consequently direct Respondent No.1 to classify the account of the petitioner in accordance the Master Circular-Prudential norms on Income Recognition, Asset Classification and Provisioning pertaining to Advances dated July 1, 2015 (i.e. IRAC Guidelines) on the basis of the status of the classification of the account of the petitioner as it existed immediately prior to September 20, 2016 (i.e. the Review and reference Date of the SDR Scheme), i.e. Special Mentioned Account-2 (Standard Asset).

For Petitioner : Mr.Abishek Jenasenan For Respondents : Mr.T.Ravichandran, for R1.

ORDER

When the matter was taken up for hearing, learned counsel for the Petitioner sought permission of this Court to withdraw this Writ Petition with a liberty to agitate all the contentions before the appropriate forum. An Endorsement to the said effect is also made by the learned counsel for the petitioner in the Petition today.

2. In view of the above, this Writ Petition is dismissed as withdrawn with a liberty to the petitioner to workout the remedy before the appropriate forum. No costs. Consequently, connected Miscellaneous petitions are closed.

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skt Index : Yes/No Speaking order : Yes/No To:

1.

CANARA BANK, 112, J.C.Road, Bangalore - 560002, Karnataka.

2.

Union Bank Of India, Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai - 400021, Maharashtra.

3/5

M.DHANDAPANI ,J.

skt and WMP.Nos.26522 to 26524 of 2018 (1/2) 4/5

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