Kpl. Steel Private Limited v. Bank Of Maharashtra
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 24-06-2026
CORAM
THE HON'BLE MR.JUSTICE MOHAMMED SHAFFIQ and WMP No.21721 of 2026 KPL. Steel Private Limited Rep. by its Director, No.4, Vinayaga Nagar, K.K.Nagar, Madurai 625 020.
..Petitioner(s) Vs
1. Bank of Maharashtra Rep. by its Assistant General Manager, Recovery Department, Head Office, Lomangal, 1501, shivaji Nagar, Pune, Maharashtra.
2. The Chief Manager, Bank of Maharashtra, Assets Recovery Branch, No.43, 2nd Floor, Akshaya Shanti, Anna Salai, Chennai 600 002.
3. The Branch Manager,1, Ban of Maharashtra, Madurai Branch, No.110/110 A, Nethaji Road, Madurai 625 001.
..Respondent(s) PRAYER: Writ Petition filed under Article 226 of the Constitution of India, pleased to issue a Writ of Mandamus, directing the respondents to extend the time for payment of the balance OTS amount in terms of the sanction dated 30/09/2025 issued by the 1st respondent in Ax1/ Recovery / OTS / KPL STEEL /2025-26 and the revalidation dated 08/01/2026 issued by the 2nd respondent in AX76 / Recovery / NPA /2025-26, and permit the petitioner to remit the entire OTS amount together with the delayed period interest upto the date of actual payment, and further direct the respondent 1 to 3 to release the collateral
Security simultaneously upon receipt of part payment of Rs.350 Lakhs and consequently direct the respondent Bank to issue No Objection Certificate, discharge the charge, release all original title deeds, file satisfaction of charge before the Registrar of Companies, and Complete all necessary formalities for closure of the loan account within a tie frame as may be fixed by this Honorable Court.
For Petitioner(s):
Mr.A.Lokesh for Mr.M.Saravanan For Respondent(s):
Mr.T.Ravichandran
ORDER
Today, when the matter was taken up for hearing, the learned counsel for the petitioner sought permission of this Court to withdraw the writ petition. He has also made an endorsement to that effect in the Bundle.
2. Recording the submission and endorsement made by the learned counsel for the petitioner, the writ petition stands dismissed as withdrawn. Consequently connected miscellaneous petition is closed. No Costs. 24-06-2026 Index: Yes/No Speaking/Non-speaking order jv
To
1. The Assistant General Manager, Bank of Maharashtra Recovery Department, Head Office, Lomangal, 1501, Shivaji Nagar, Pune, Maharashtra.
2. The Chief Manager, Bank of Maharashtra, Assets Recovery Branch, No.43, 2nd Floor, Akshaya Shanti, Anna Salai, Chennai 600 002.
3. The Branch Manager,1, Ban of Maharashtra, Madurai Branch, No.110/110 A, Nethaji Road, Madurai 625 001.
MOHAMMED SHAFFIQ, J.
jv 24-06-2026