← Library
Madras High CourtWP/19621/2023disposed of

N.Sathyanarayana, v. The Reserve Bank Of India

2026-03-24Honourable Mr Justice Krishnan Ramasamy5 pages

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 24-03-2026

CORAM

THE HONOURABLE MR JUSTICE KRISHNAN RAMASAMY N.Sathyanarayana, Plot No. 249, Kaliamman Koil Street, Natesan Nagar II Main Road, Virugambakkam, Chenani - 600 092.

Petitioner(s) Vs 1.The Reserve Bank Of India, Rep By Its Deputy General Manager, Fort Glacis, 16, Rajaji Road, For St.

George, Chennai - 01.

2.The Indusind Bank Ltd, Its Authorized Signatory, Regional Office, New No. 34/old No. 115/116, Gn Chetty Road, Chennai - 017.

Respondent(s) PRAYER:-Writ Petition filed under Article 226 of the Constitution of India, praying for an issuance of Writ of Mandamus, to direct the 2nd respondent to return/refund a sum of Rs.1,35,151.45 towards pre-closure charges, interest charge Rs.1,306.22, G.S.T. for pre -closure charge Rs. 24,327.76 and interest on delayed payment Rs. 447.25 for loan account number TBA00015N and for the loan account number TBO00049N the interest charges Rs.2,144.66, pre-closure

charges Rs.1,17,649.73, GST on pre-closure charge Rs.21,176.95 and interest on delayed payment Rs.289.97.

For Petitioner(s):

M/s.G.Selvi George For Respondent(s):

No Appearance For R1 Mr.K.Moorthy For R2

ORDER

This writ petition has been filed seeking to direct the 2nd respondent to return/refund a sum of Rs.1,35,151.45 towards pre-closure charges, interest charge Rs.1,306.22, G.S.T. for pre -closure charge Rs. 24,327.76 and interest on delayed payment Rs. 447.25 for loan account number TBA00015N and for the loan account number TBO00049N the interest charges Rs.2,144.66, pre-closure charges Rs.1,17,649.73, GST on pre-closure charge Rs.21,176.95 and interest on delayed payment Rs.289.97.

2.Learned counsel for the petitioner would submit that in the event of preclosure of loan, the 2nd respondent is not supposed to levy any amount as preclosure charge. However, against the terms and conditions of the loan, the 2nd respondent has levied pre-closure charges for the petitioner's loan amount along with interest and G.S.T. Hence, the present writ petition has been filed.

3.Learned counsel appearing for the 2nd respondent would submit that as per the terms and conditions of the loan, the 2nd respondent is entitled to levy pre-closure charge when the loan is pre-closed. 4.Heard the learned counsel for the petitioner as well as the learned counsel appearing for the 2nd respondent.

5.Considering the submissions made by both parties, this Court directs the petitioner to make a representation before the 2nd respondent requesting them to refund the pre-closure charges levied from the petitioner's loan account. In such case, the 2nd respondent is directed to consider the representation of the petitioner and dispose of the same on merits and in accordance with law, within a period of four (4) weeks from the date of receipt of the said representation by the petitioner.

6.With the aforesaid directions, this writ petition is disposed of. No costs. 24-03-2026 rst Index:Yes/No Speaking/Non-speaking order Internet:Yes

To 1.The Reserve Bank Of India, Rep By Its Deputy General Manager, Fort Glacis, 16, Rajaji Road, For St. George, Chennai - 01.

2.The Indusind Bank Ltd, Its Authorized Signatory, Regional Office, New No. 34/old No.

115/116, Gn Chetty Road, Chennai - 017.

KRISHNAN RAMASAMY J.

rst 24-03-2026