Saket Agrawal v. Allahabad Bank & ORS

WPA/20277/2019 ORDER SHEET

IN THE HIGH COURT AT CALCUTTA

CONSTITUTIONAL WRIT JURISDICTION APPELLATE SIDE SAKET AGRAWAL -VSALLAHABAD BANK & ORS.

BEFORE:

THE HON'BLE JUSTICE RAJASEKHAR MANTHA DATE: 11.08.2021 Mr. A. Mitra, Sr. Adv.; Ms. R. Kajaria, Adv.; Ms. U. Sharma, Adv.; Mr. S. Bhattacharyya, Adv., for petitioners.

Mr. Om Narayan Rai, Adv., for Bank.

The Court: Counsel for the Indian Bank, on instructions, submits that the loan account of the petitioners has since been assigned to an asset reconstruction company under the provisions of the SARFAESI Act, 2002. It is, therefore, submitted that Wilful Default Proceedings under the Master Circular of the Reserve Bank of India, impugned herein, have been dropped by the respondent Bank and the communications made by the respondent Bank to the Reserve Bank of India and the other authorities that the petitioner company is a wilful defaulter, shall also be withdrawn. The affidavit-in-opposition and the supplementary affidavit filed by the respondents are taken on record.

The question of any penal proceedings against the petitioners under section 2.5 of the Master Circular, therefore, does not and cannot arise. The respondent no.4 is directed to forthwith remove the names from its list of wilful defaulters, as communicated by the Indian Bank. In view of the above, WPA/20277/2019 is disposed of, however, without any order as to costs. (RAJASEKHAR MANTHA, J.) tk