M/S.Srinivasan Health And Educational v. Reserve Bank Of India
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED: 30-10-2025
CORAM
THE HONOURABLE MR JUSTICE M.DHANDAPANI WP NO. 35637 OF 2024 & WMP No. 45738 of 2025
1. M/s.Srinivasan Health And Educational Trust, A Trust Registered Under The Indian Trusts Act, Having its Office At No.
274/C, Thuraiyur Road, Perambalur 621 212.
Authorised Signatory S.Kathiravan.
2.A.Srinivasan 3.S.Kathiravan 4.K. Ananthalakshmi Petitioner(s) Vs
1. Reserve Bank Of India 4th Floor, Amar Building, Sri P.M. Road, Mumbai- 400 001.
2.The Chief Manager Indian Bank SAM Small Branch No.100/ 101 East Avani Moola Street, Madurai- 625 001.
3.The Branch Manager Corporation Bank (now Union Bank Of India) Asset Recovery Branch PB No. 8, 235, Oppanakara Street, Coimbatore- 641 001.
4.The Chief Manager Karur Vysa Bank, No.C- 85, Fort Station Road, Thillai Nagar, Trichy- 620 218.
Respondent(s) PRAYER; This writ petition is filed under Article 226 of Constitution of India, to issue a Writ of Mandamus, directing the Respondents to delete the name of the petitioner Trust from the Fraud list maintained by the Reserve Bank of India and Respondent Banks.
For Petitioner(s):
Mr.S.Ramachandran For Respondent:
Mr.T.Poornam R1 Mr.P.Raghunathan for M/s.T.S.Gopalan & Co R4 Mrs.Rita Chandrasekar for M/s.Aiyar & Dolia RR2 & 3
ORDER
This petition has been filed seeking a direction to the Respondents to delete the name of the petitioner Trust from the Fraud list maintained by the Reserve Bank of India and Respondent Banks.
2. It is the case of the petitioner that the petitioner is a registered Trust involved in Health Care and Educational Activities. The petitioner availed loans from a consortium of Banks led by Indian Bank, Corporation Bank and Karur Vysya Bank for establishing a multi-speciality hospital to the tune of Rs.88 crores. The loan was sanctioned in the year 2010. The petitioner was irregular in loan repayment and therefore, the account became non Performing Asset (NPA)
in the year 2016 and 2017. However, the petitioner entered into a one time settlement agreement dated 03.03.2023 with the banks to settle the outstanding dues and repaid all the dues including interest for delayed payments. Despite the petitioner having cleared its dues, the petitioner's account had been previously declared as ''Fraud'' by the first respondent based on a forensic Audit without giving any opportunity to the petitioner. Hence, the present writ petition.
3. The learned Standing Counsel appearing for the first respondent on instructions submitted that the petitioner has cleared the loan amount including interest for the delayed payment and there is no due as on date. On the basis of the said information, the account already declared as non Performing Asset (NPA) has been removed on 07.11.2024 itself.
4. Recording the said submission made by the learned Standing Counsel appearing for the first respondent, the writ petition is closed. Consequently, connected miscellaneous petition is closed. No costs. 30-10-2025 rli Index:Yes/No Speaking/Non-speaking order Internet:Yes
M.DHANDAPANI J.
rli To 1.Reserve Bank Of India 4th Floor, Amar Building, Sri P.M. Road, Mumbai- 400 001.
2.The Chief Manager Indian Bank Sam Small Branch No.100/ 101 East Avani Moola Street, Madurai- 625 001.
3.The Branch Manager Corporation Bank (now Union Bank Of India) Asset Recovery Branch Pb No. 8, 235, Oppanakara Street, Coimbatore- 641 001.
4.The Chief Manager Karur Vysa Bank, No.C- 85, Fort Station Road, Thillai Nagar, Trichy- 620 218.
WP NO. 35637 OF 2024 30.10.2025
30-10-2025