R.Ranganathan v. Reserve Bank Of India

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED: 07.10.2025 CORAM :

THE HONOURABLE MR. MANINDRA MOHAN SHRIVASTAVA, CHIEF JUSTICE AND THE HONOURABLE MR.JUSTICE G.ARUL MURUGAN & W.M.P.No.41092 of 2025 R.Ranganathan ..

Petitioner Vs.

1. Reserve Bank of India Rep. by its Regional Director Fort Glacis, No.16, Rajaji Salai Chennai 600 001.

2. The Authorised Officer M/s. IDBI Bank Ltd.

Regional Office No.37, P.M.Tower, Greams Road Chennai 600 006.

..

Respondents Prayer : Petition filed under Article 226 of the Constitution of India seeking a writ of Certiorarified Mandamus after calling for the concerned records relating to the order No.IDBI/CHN/1430/RR/2025-26 dated 03.09.2025 passed by the 2nd respondent bank and quash the same and consequently direct

the 2nd respondent to consider the petitioner's representation dated 26.08.2025 and refer the matter before the mediation centre of this Hon'ble Court/Lok Adalat for OTS.

For Petitioner :

Mr.M.Gnanasekar

ORDER

(Order of the Court was made by the Hon'ble Chief Justice) Challenge to the rejection order dated 03.09.2025 is premised on the ground that petitioner had submitted an offer of One Time Settlement which has been turned down by the bank.

2. It appears that petitioner had already approached the Debts Recovery Tribunal against the sale notice which has been issued by secured creditor/second respondent bank.

3. As the bank has turned down petitioner's request for One Time Settlement with a further option to petitioner to submit revised settlement offer, we are not inclined to issue any direction in the writ petition.

4. If petitioner finds that the offer made by him ought to be accepted by bank, he can move such an application in the pending case before the Debts Recovery Tribunal and the same may be considered and appropriate order be passed by the Debts Recovery Tribunal.

5. Considering that petitioner has already been protected by the interim order of the Debts Recovery Tribunal as against sale notice, no interference, at this stage, is warranted. With liberty to work out the remedy open to petitioner as directed above, petition is dismissed. Consequently, the interim application is also dismissed.

(MANINDRA MOHAN SHRIVASTAVA, CJ) (G.ARUL MURUGAN,J) 07.10.2025 Index :

Yes/No Yes/No kpl

To

1. The Regional Director Reserve Bank of India Fort Glacis, No.16, Rajaji Salai Chennai 600 001.

2. The Authorised Officer M/s. IDBI Bank Ltd.

Regional Office No.37, P.M.Tower, Greams Road Chennai 600 006.

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

(kpl) 07.10.2025