Slo Steels Limited v. Reserve Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 25.06.2024

CORAM:

THE HONOURABLE MR. JUSTICE G.K.ILANTHIRAIYAN W.P.No.22356 of 2021 and WMP.Nos.23599 & 25766 of 2021 SLO Steels Limited Repd. By its Director Anil Kumar Ojha 403/D-4, T.H.Road, Thiruvottiyur, Chennai 600 019

...Petitioner

Vs.

1.Reserve Bank of India, Department of Banking, Fort Glacis, Rajaji Salai, Chennai 600 001 2.Bank of Maharashtra, Represented by its authorised officer, Mount Road Branch, 603, Anna Salai, Thousand Light West, Thousand Lights, Chennai 600 006 3.YES Bank of India, Represented by its authorised officer, Kilpauk Branch, Old No.84, D.No.36/1 & 36/2, New Avadi Road, Kilpauk, Chennai 600 010 ... Respondents 1/4

PRAYER: Writ Petition is filed under Article 226 of Constitution of India praying to issue a Writ of Mandamus directing the second respondent Bank to remove the name of the petitioner company as a borrower in the records of the first respondent Bank. For Petitioner : Mr.Rajkumar Jhabakh For Respondents For R1 : Mr.C.Mohan, for M/s.King & Partridge For R2 & 3 : No appearance

ORDER

This writ petition has been filed for direction to the second respondent to remove the name of the petitioner company as a borrower in the records of the first respondent.

2.

On considering the submissions of the learned counsel appearing on either side, it is ordered that if the petitioner repaid the entire loan which was borrowed from the second respondent, the second respondent is directed to consider the representation submitted by the petitioner and accordingly inform the same to the first respondent for removal of the petitioner's name from the borrowers record within a period of four weeks from the date of receipt of copy of this order. 2/4

3.

With the above direction, this writ petition is disposed of. Consequently, connected miscellaneous petitions are closed. There shall be no order as to costs.

25.06.2024 Index: Yes/No Speaking/Non-speaking order lok 3/4

G.K.ILANTHIRAIYAN, J.

lok To 1.Reserve Bank of India, Department of Banking, Fort Glacis, Rajaji Salai, Chennai 600 001 2.Authorised Officer, Bank of Maharashtra, Mount Road Branch, 603, Anna Salai, Thousand Light West, Thousand Lights, Chennai 600 006 3.Authorised Officer, YES Bank of India, Kilpauk Branch, Old No.84, D.No.36/1 & 36/2, New Avadi Road, Kilpauk, Chennai 600 010 25.06.2024 4/4