M/S.Balaji Petroleum v. The Deputy Governor

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 11.12.2024

CORAM

THE HONOURABLE MRS.JUSTICE L.VICTORIA GOWRI M/s.Balaji Petroleum, Rep. by its Proprietor, Uma Maheswari, D/o. Kandhasamy, No.181, Sankarankovil Road, Kalugumalai, Kovilpatti Taluk, Thoothukudi District.

... Petitioner Vs.

1.The Deputy Governor, Reserve Bank of India, 19th Floor, Central Office Building, Shahid Bhagar Singh Road, Mumbai - 400001.

2.The Branch Manager, State Bank of India, Palancottai Branch, Tenkasi District.

... Respondents Prayer : Writ Petition filed under Article 226 of the Constitution of India, praying this Court to issue a Writ of Certiorarified Mandamus, to call for the records pertaining to the impugned Notice dated 16.03.2023 issued by the 2nd Respondent Bank and quash the same as illegal and consequently direct the 2nd Respondent Bank to issue "No Due Certificate" in respect of the 1/4

petitioner's EDFS loan Account No. 39442616462 in the 2nd Respondent Bank.

For Petitioner : Mr.S.Velrajan For R-1 : Mr.K.R.Laxman, Standing counsel For R-2 : Mr.M.Ponniah *****

ORDER

This writ petition is filed to call for the records pertaining to the impugned Notice dated 16.03.2023 issued by the 2nd Respondent Bank and quash the same as illegal and consequently direct the 2nd Respondent Bank to issue "No Due Certificate" in respect of the petitioner's EDFS loan Account No. 39442616462 in the 2nd Respondent Bank. 2.Heard the learned counsels on either sides and carefully perused the materials available on record.

3.The entire amount of pending loan arrears to the tune of Rs. 4,91,850/- (Rupees Four Lakhs Ninety One Thousand Eight Hundred and Fifty only) has been settled as a one time settlement by the petitioner as a full and final settlement and the 2nd respondent bank has received the same. 2/4

4.The learned counsel appearing for the 2nd respondent bank submitted that there would not be any bar for issuing a No Due Certificate to the petitioner with respect to EDFS loan Account No. 39442616462 which is maintained by the petitioner in the 2nd respondent bank. 5.Recording the same, this Court hereby direct the 2nd respondent bank to forthwith issue a No Due Certificate to the petitioner. 6.Accordingly, this writ petition is disposed of. The 2nd respondent bank is further directed to issue a copy of the entire statement of accounts with respect to the said loan along with the No due certificate. No costs. 11.12.2024 NCC : Yes / No Index : Yes / No Internet : Yes Sml 3/4

L.VICTORIA GOWRI, J.

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