R.Soundararajan v. Idbi Bank Ltd

2024:MHC:1417

IN THE HIGH COURT OF JUDICATURE AT MADRAS

Dated: 20.03.2024

CORAM

THE HONOURABLE DR. JUSTICE ANITA SUMANTH and W.M.P.Nos. 31334 & 31335 of 2023 R.Soundararajan ... Petitioner 1.IDBI Bank Pvt Ltd., CIN : L65190MH2004GOI148838 Through its Branch Manager, Having its banking branch at:

67, East Coast Road, Thiruvanmiyur, Chennai - 600 041 Having its Registered Office at IDBI Tower, WTC Complex, Cuffe Parade, Colaba, Mumbai - 400 005.

2.Reserve Bank of India Through its Regional Director Having its Regional Office at For Glacis, No.16, Rajaji Salai, Chennai - 600 001.

... Respondents PRAYER: Writ Petition filed under Article 226 of the Constitution of India praying to issue a Writ of Certiorari to call for the records and quash the unreasoned, vague and auto generated letter dated 17th October 2023 issued by 1 / 4

the first respondent herein bearing reference number MR/DA/N/628/2005 by which the 1st respondent is threatening closure of the bank account of the petitioner without any valid reason or without providing an opportunity of hearing.

For Petitioner : Mr.R.Soundararajan Party-in-Person For Respondents : Mr.R.Rajesh (for R1) No appearance for R2

O R D E R

The 1st respondent vide its e-mail dated 20.03.2024 has withdrawn the impugned letter dated 17.10.2023. With this, there is no further fetter on operation of the petitioner's bank account with the respondent bank. 2.They further request, in terms of Master Circular bearing No.DOR.CRE.REC.23/21.08.008/2022-23 dated 19.04.2022 issued by the Reserve Bank of India (RBI) that the bank should be kept informed if the petitioner avails of cash credit or overdraft facility with any other bank in excess of a sum of Rs.5 crore.

3.This request is in tandem with the declaration in Annexure III made by the petitioner at the time of opening of the account to the effect that he had not, at that time availed of any credit facility from the banking system and that if the aforesaid circumstances change, he shall keep the bank informed. 2 / 4

4.This writ petition is closed. No costs. Connected miscellaneous petitions are also closed.

20.03.2024 Index : Yes/No Speaking Order To The Regional Director Reserve Bank of India Having its Regional Office at For Glacis, No.16, Rajaji Salai, Chennai - 600 001.

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DR.ANITA SUMANTH, J.

W.P.No.31698 of 2023 and W.M.P.Nos. 31334 & 31335 of 2023 20.03.2024 4 / 4