M/S.Sri Yoga Barathi Fab v. The Chief Manager

BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT Date : 27/02/2025

CORAM

THE HONOURABLE MRS.JUSTICE J.NISHA BANU AND THE HONOURABLE MRS.JUSTICE S.SRIMATHY M/s.Sri Yoga Barathi Fab Rep. by its Partner T.Rajendran ... Petitioner Vs

1. The Chief Manager, Canara Bank, Cantonment Branch, W.B. Road, Trichy..

2. Divisional Manager, Canara Bank Regional Office, No. 1 City Towers, Royal Road, Trichy..

... Respondents PRAYER :- Writ Petition filed under Article 226 of the Constitution of India, praying this Court to issue a Writ of Mandamus, directing the respondent to release the petitioner's document by completing the cancellation of MODT formalities and to issue NOC and consequently direct the respondent to give a compensation of Rs. 5,000/- for each day 1/5

of delay from 20.07.2024 to till date in releasing the documents as per Circular issued by Reserve Bank of India vide RBI/2023-24/60 on the basis of the petitioner's representation dated 30.11.2024 For Petitioner : Mr.M.Sankar For Respondents : Mr.C.Deepak

ORDER

(Order of the Court was made by J.NISHA BANU, J.) By consent of both sides, the writ petition itself is taken up for final disposal at the stage of admission itself.

2. The writ petition has been filed for a mandamus to direct the respondents to release the petitioner's document by completing the cancellation of MODT formalities and to issue NOC and consequently direct the respondent to give a compensation of Rs. 5,000/- for each day of delay from 20.07.2024 to till date in releasing the documents as per Circular issued by Reserve Bank of India vide RBI/2023-24/60 on the basis of the petitioner's representation dated 30.11.2024. 2/5

3. The petitioner has availed loan from the respondent Bank. For the said loan, the petitioner has also deposited the documents. However, after discharging the entire dues and the loan account has been closed, no documents have been released by the respondent bank and no no objection certificate has been issued to the petitioner. Hence, the petitioner has given a representation to the respondent bank for release of the documents and for NOC on 30.11.2024. Since the said representation has not been considered, the petitioner is before this Court with this writ petition.

4. We have heard the learned counsel on both sides and perused the materials available on record.

5. Considering the limited scope of the prayer that has been sought for, the respondents are directed to consider the representation of the petitioner dated 30.11.2024 in the light of the circular issued by the Reserve Bank of India vide RBI/2023-24/60, within a period of twelve weeks from the date of receipt of a copy of this order. 3/5

6. With the above direction, the writ petition is disposed of. No costs.

[J.N.B.,J] [S.S.Y.,J] 27.02.2025 NCC : Yes/No Index : Yes/No RR 4/5

J.NISHA BANU, J AND S.SRIMATHY, J.

RR

ORDER

IN WP(MD) No.5336 of 2025 Date : 27/02/2025 5/5