K.V.Thangavel v. The Director

IN THE HIGH COURT OF JUDICATURE AT MADRAS

DATED : 07.10.2025

CORAM

THE HONOURABLE MR.JUSTICE M.DHANDAPANI And W.M.P.No.41612 of 2025 K.V.Thangavel ... Petitioner Vs.

1 THE DIRECTOR, DEPARTMENT OF FINANIAL SERVICES, MINISTRY OF FINANCE, 3rd FLOOR, JEEVAN DEEP BUILDING, SANSAD MARG, NEW DELHI - 110 001.

2 THE REGIONAL DIRECTOR, RESERVE BANK OF INDIA, FORT GLACIS, NO.16, RAJAJI SALAI, CHENNAI - 600 001.

3 THE JOINT DIRECTOR AND HEAD OF ZONE, CENTRAL BUREAU OF INVESTIGATION, III FLOOR, E.V.K. SAMPATH BUILDING, COLLEGE ROAD, CHENNAI - 600 006.

4 THE DIRECTORATE OF IT VIGILANCE, THE INCOME TAX DEPARTMENT, AAYAKAR BHAWAN, 121, MG ROAD, NUNGAMBAKKAM, CHENNAI - 600 034.

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5 THE ECONOMIC OFFENCES WING NO.2, NATESAN SALAI, PTC, ASHOK NAGAR, CHENNAI - 600 083.

6 THE CHIEF VIGILANCE OFFICER (CVO), M/S CANARA BANK, VIGILANCE WING, III FLOOR, HEAD OFFICE, NO.112, JC ROAD, BANGALORE - 560 002.

7 THE CHIEF VIGILANCE OFFICER (CVO), M/S.INDIAN OVERSEAS BANK, VIGILANCE DEPARTMENT, 763, ANNA SALAI, CHENNAI - 600 002.

8 R.PONNUSAMY ... Respondents Prayer:

Petition filed under Article 226 of the Constitution of India to issue a Writ of Mandamus directing the respondents 1 to 7 to consider the representation dated 28.08.2025 and pass suitable orders within a time frame stipulated by this Hon'ble Court.

For Petitioner : Mr.Srinath Sridevan Senior Counsel for M/s.M.S.Seshadri For Respondents : Mr.Rajesh Vivekanandan for R1 Dy.ASG Mr.R.Sreedhar for R6

O R D E R

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This writ petition has been filed seeking issuance of Writ of Mandamus directing the respondents 1 to 7 to consider the representation dated 28.08.2025 and pass suitable orders within a time frame stipulated by this Court.

2.The learned Senior Counsel appearing for the petitioner submitted that the petitioner is the partner of M/s.Guru Ragavendra Textiles and the said firm availed financial assistance from the Canara Bank by mortgaging immovable properties and due to business difficulties, repayment default occurred, leading to initiation of proceedings under the SARFAESI Act, 2002. The learned Senior Counsel further submitted that despite the petitioner's efforts to secure an One Time Settlement, the Bank proceeded with the eauction dated 03.12.2024 fixing a grossly undervalued reserve price and the eighth respondent who assisted the petitioner in exploring the possibility of One Time Settlement, participated in the auction and emerged as the successful bidder and challenging the said e-auction, the petitioner filed S.A.No.106 of 2025 before the Debt Recovery Tribunal and the same is pending.

3.The learned Senior Counsel appearing for the petitioner further 3/6

submitted that the petitioner made representation to the respondents 1 to 7 to investigate the fraud and collusion made by the Bank Officials in fixing the reserve price of the petitioner's properties for lesser value, however, there is no response. Hence, this Court may issue direction to the first respondent to consider the petitioner's representation dated 28.08.2025 and to pass appropriate orders, within a reasonable time frame.

4.Considering the limited relief sought for in this writ petition, this Court, without expressing any opinion on the merits of the case, directs the first respondent to consider the petitioner's representation dated 28.08.2025, on merits and in accordance with law and to pass appropriate orders, within a period of four weeks from the date of receipt of a copy of this order.

5.The writ petition is disposed of. No costs. Consequently, connected miscellaneous petition is closed.

07.10.2025 pri Index: Yes/ No Speaking Order: Yes/ No 4/6

NCC: Yes/ No To 1 THE DIRECTOR, DEPARTMENT OF FINANIAL SERVICES, MINISTRY OF FINANCE, 3rd FLOOR, JEEVAN DEEP BUILDING, SANSAD MARG, NEW DELHI - 110 001.

2 THE REGIONAL DIRECTOR, RESERVE BANK OF INDIA, FORT GLACIS, NO.16, RAJAJI SALAI, CHENNAI - 600 001.

3 THE JOINT DIRECTOR AND HEAD OF ZONE, CENTRAL BUREAU OF INVESTIGATION, III FLOOR, E.V.K. SAMPATH BUILDING, COLLEGE ROAD, CHENNAI - 600 006.

4 THE DIRECTORATE OF IT VIGILANCE, THE INCOME TAX DEPARTMENT, AAYAKAR BHAWAN, 121, MG ROAD, NUNGAMBAKKAM, CHENNAI - 600 034.

5 THE ECONOMIC OFFENCES WING NO.2, NATESAN SALAI, PTC, ASHOK NAGAR, CHENNAI - 600 083.

6 THE CHIEF VIGILANCE OFFICER (CVO), M/S CANARA BANK, VIGILANCE WING, III FLOOR, HEAD OFFICE, NO.112, JC ROAD, BANGALORE - 560 002.

7 THE CHIEF VIGILANCE OFFICER (CVO), 5/6

M/S.INDIAN OVERSEAS BANK, VIGILANCE DEPARTMENT, 763, ANNA SALAI, CHENNAI - 600 002.

M.DHANDAPANI,J.

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