New Star Enterprises v. The Authorised Officer

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 19.09.2025

CORAM

THE HON'BLE MR.MANINDRA MOHAN SHRIVASTAVA, CHIEF JUSTICE AND THE HON'BLE MR.JUSTICE G.ARUL MURUGAN M/s.New Star Enterprises rep. By its Proprietor L.Muniyandi : Petitioner versus The Authorised Officer, IDBI Bank, No.37, PM Towers, Greams Road, Chennai 600 006 : Respondent Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus or order or direction for bearing the 1st Respondent issued OTS extension letter dated 05.05.2025 in terms Ref.No.IDBI/RR/SUGAM/LOA 24 ext/2025-26, the 1st Respondent Bank seeking interest beyond the OTS time limit 90 days now the petitioner is ready to deposit OTS Balance amount of Rs.1,27,79,644/- plus simple interest till date.

For Petitioner :

Mr.V.Raghavachari, Senior Counsel, for Mr.D.Durairaj

ORDER

(Order of the Court was made by the Hon'ble Chief Justice) The petitioner has approached this Court seeking issuance of a direction to respondent bank to accept the offer made by the petitioner, though belatedly, in the matter of settlement under the one-time settlement scheme of the bank.

2. What records reflect is that though the respondent bank extended the benefit of one-time settlement scheme to the petitioner on fulfillment of certain conditions vide its letter dated 05.05.2025, the petitioner failed to abide by the conditions within the time stipulated.

3. Now, the petitioner has rushed to this Court stating that there were certain difficulties in fulfilling the terms of one-time settlement scheme within the time stipulated.

4. In our view, this aspect shall be brought to the notice of the respondent bank as this does not involve any exceptional case where the writ court should invoke its jurisdiction.

5. We give the petitioner liberty to submit a representation, along with the balance amount, as offered by the petitioner. On such representation being made by the petitioner within a period of two weeks from today, the respondent bank shall take appropriate decision thereon, one way or the other, before proceeding further in the matter towards realisation of loan.

6. The writ petition stands disposed of. There will be no order as to costs. Consequently, WMP No.39570 of 2025 is closed. (MANINDRA MOHAN SHRIVASTAVA, CJ.) (G.ARUL MURUGAN, J.) 19.09.2025 Index : Yes/No : Yes/No tar To The Authorised Officer, IDBI Bank, No.37, PM Towers, Greams Road, Chennai 600 006

THE HON'BLE CHIEF JUSTICE AND G.ARUL MURUGAN , J.

(tar) 19.09.2025