T.R.Vijaya Balamurugan v. The Reserve Bank Of India
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED : 12.02.2026
CORAM:
THE HONOURABLE DR.JUSTICE G.JAYACHANDRAN AND THE HON'BLE MR JUSTICE K.K.RAMAKRISHNAN W.P(MD)No.4011 of 2026 and W.M.P(MD)No.3290 of 2026 1.T.R.Vijaya Balamurugan 2.Nagalakshmi 3.V.Naveen Kumar ... Petitioners/Petitioners .Vs.
1.The Reserve Bank of India, represented by its Regional Director, Regional Office, Fort Glacis, 16,Rajaji Salai, Chennai - 600 001.
2.The Authorized Officer, Asset Recovery Management Branch, Gujarati Samaj Buildings, 661-1,Mettupalayam Road, R.S.Puram, Coimbatore -641 002, Coimbatore District.
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3.The Chief Manager, Dindigul Main Branch, Loyola Building, Dindigul - 624 001, Dindigul District.
4.The Senior Manager, Dindigul Main Branch, Loyola Building, Dindigul - 624 001.
Dindigul District.
5.The Additional General Manager, AGM Office, No.23, Palani Road, (Opp to Honda Showroom), First Floor, Dindigul West, Dindigul - 624 001, Dindigul District.
... Respondents/Respondents PRAYER: Writ Petition filed under Article 226 of the Constitution of India praying this Court seeking issuance of a writ of Certiorari calling for the records relating to the impugned sale notice issued by the second respondent in Ref.No.ARMCBE/EAUCTION/VBM/685/2025-2026, dated 8.1.2026 and quash the same.
For Petitioner : Mr.T.Cibichakrborthy 2/7
For Respondents :Mr.P.Pethu Rajesh 2 to 5
O R D E R
(Order of the Court was made by DR.G.JAYACHANDRAN.,J) This Writ Petition has been filed to quash the impugned sale notice issued by the second respondent, dated 8.1.2026 2.Mr.P.Pethu Rajesh, learned counsel takes notice for the respondents 2 to 5.
3.The Writ Petitioner seeks to quash the impugned sale notice, who has availed educational loan, gold loan and business loan and has defaulted in paying the loan amount. Hence the Bank has resorted to recovery proceedings. The property mortgaged has now been put to e-auction which is scheduled to be held on 15.2.2026.
4.The Petitioner is before this Court to quash the auction notice contending that his proposal to settle the due in One Time Settlement is pending. Therefore, till th disposal of his proposal, no coercive action should be taken. The learned counsel has also submitted that a portion of the loan amount has already been 3/7
settled on 11.2.2026 (yesterday) and the jewel pledged for availing jewel loan still fall sufficient money to clear the loan and therefore, he is taking steps to redeem the jewels pledged and settle the loan as per the proposal given by him. Therefore he seeks indulgence of this Court to quash the auction notice. 5.This Court, after perusing the records finds that there is no merit in the request .If at all the Petitioner wants to clear the loan, he can do so before fall of hammer. His contention that his one time settlement for deferred payment in instalments cannot be entertained at this point of time by Court direction. It is for the borrower and the Bank to take a call on the proposed One Time Settlement.
6.Hence the Writ Petition is dismissed. The dismissal of the Writ Petition will not stand in the way of the Banker to consider the representtion of the petitioner and to give some breathing time to clear the loan mount and redeem his jewels. No costs. Consequently, connected Miscellaneous Petitions are closed. [G.J.,J.] [K.K.R.K.,J.] 12.02.2026 NCS : Yes/No Index : Yes / No 4/7
Internet : Yes / No vsn To 1.The Regional Director, Reserve Bank of India, Regional Office, Fort Glacis, 16,Rajaji Salai, Chennai - 600 001.
2.The Authorized Officer, Asset Recovery Management Branch, Gujarati Samaj Buildings, 661-1,Mettupalayam Road, R.S.Puram, Coimbatore -641 002, Coimbatore District.
3.The Chief Manager, Dindigul Main Branch, Loyola Building, Dindigul - 624 001, Dindigul District.
4.The Senior Manager, Dindigul Main Branch, Loyola Building, Dindigul - 624 001.
Dindigul District.
5.The Additional General Manager, 5/7
AGM Office, No.23, Palani Road, (Opp to Honda Showroom), First Floor, Dindigul West, Dindigul - 624 001, Dindigul District.
DR.G.JAYACHANDRAN, J.
and K.K.RAMAKRISHNAN,J.
vsn ORDER MADE IN W.P(MD)No.4011 of 2026 and W.M.P(MD)No.
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