Sree Gokulam Chit And Finance Company (P) Ltd v. The Union Of India
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 18-09-2025
CORAM
THE HONOURABLE MR JUSTICE M.DHANDAPANI AND WMP NO. 17175 & 17172 OF 2021
1. Sree Gokulam Chit and Finance Company (P) Ltd Rep by its Director, Operations Mr. V. C Praveen office at, No. 66, Arcot Road, Kodambakkam, Chennai 600 024.
Petitioner(s) Vs
1. The Union of India Rep by the Secretary, Ministry of Finance, New Delhi - 110001.
2.Reserve Bank Of India Central Office Building, Shahid Bhagat Singh Marg, Mumbai - 400001.
3.State Bank of India Commercial Road, Udhagamangalam Branch, Udhagamangalam, The Nilgiris - 643 001.
4.Axis Bank Ltd No. 56, South Usman Road, T. Nagar, Chennai - 17.
5.Karnataka Bank Ltd Kodambakkam Branch, No. 6-b, 2nd Main Road, United India Colony, Kodambakkam, Chennai - 24.
6.Tamilnad Mercantile Bank Sri Saraswathi Mahal Building, Near Bus Stand, Thiruchendur - 628 215.
Respondent(s) PRAYER; The writ petition is filed under Article 226 of Constitution of India, to issue a writ of Certiorarified Mandamus calling for the records leading to the impugned circulars of the 2nd respondent (i) RBI / 2020-2021 / 20 DOR NO. BP BC / 7 / 21.04.048 / 2020 - 2021 dated 06.08.2020 (ii) RBI / 2020-2021 / 62 DOR NO. BP. BC. 27 / 21 . 04.048 / 2020 - 2021 dated 02.11.2020 and (iii) RBI / 2020 - 2021 / 79 DOR NO. BP. BC. 30 / 21.04.048 / 2020 - 2021 dated 14.12.2020 and quash the same and consequently direct the 2nd respondent and banks to give opportunity to the petitioner and have discussions to arrive at a viable / workable solution within a time fixed by this Honourable Court. For Petitioner(s):
Mrs.R. Ramya For Respondent(s):
Mr.C.Mohan Mr.A.Rexy Josephine Mary M/s.KING and PARTRIDGE FOR R3 M/s. P. Giridharan, For R2 R-6 No appearance RR1 And 4 - Not Ready notice
ORDER
The writ petition has been filed seeking to quash the impugned circulars of the 2nd respondent (i) RBI / 2020-2021 / 20 DOR NO. BP BC / 7 / 21.04.048 / 2020 - 2021 dated 06.08.2020, (ii) RBI / 2020-2021 / 62 DOR NO. BP. BC. 27
/ 21 . 04.048 / 2020 - 2021 dated 02.11.2020, and (iii) RBI / 2020 - 2021 / 79 DOR NO. BP. BC. 30 / 21.04.048 / 2020 - 2021 dated 14.12.2020 and consequently, direct the 2nd respondent and banks to give opportunity to the petitioner and have discussions to arrive at a viable / workable solution.
2. When the matter is taken up for hearing, the learned counsel for the petitioner submitted that during pendency of the writ petition, the impugned circular dated 06.08.2020 was superceded and subsequently, the circulars dated 04.08.2021 & 29.10.2021 were issued. The learned counsel prays that the writ petition may be closed.
3. In view of the subsequent circular, no further order is necessary in the present writ petition and therefore, the same is closed. If the petitioner is aggrieved by the circulars, he is at liberty to work out the remedy in the manner known to law. No costs. Consequently, connected miscellaneous petitions are closed.
18-09-2025 rli Index:Yes/No Speaking/Non-speaking order Internet:Yes To
1. The Secretary, Ministry of Finance, New Delhi - 110001.
M.DHANDAPANI J.
rli 2.Reserve Bank Of India Central Office Building, Shahid Bhagat Singh Marg, Mumbai - 400001.
3.State Bank of India Commercial Road, Udhagamangalam Branch, Udhagamangalam, The Nilgiris - 643 001.
18.09.2025