Surya Allloys Industries Ltd And ANR v. State Bank Of India And ORS

OD-3 ORDER SHEET WPO No.347 of 2025

IN THE HIGH COURT AT CALCUTTA

CONSTITUTIONAL WRIT JURISDICTION ORIGINAL SIDE SURYA ALLOYS INDUSTRIES LIMITED & ANR.

VS STATE BANK OF INDIA & ORS.

BEFORE

THE HON'BLE JUSTICE AMRITA SINHA Date: 9th July, 2025.

Appearance :

Mr. Joydip Kar, Sr. Adv.

Ms. Rajshree Kajaria, Adv.

Mr. Sarvapriya Mukherjee, Adv.

...for the Petitioners.

Mr. Rachit Lakhmani, Adv.

Mr. Piyush Kumar, Adv.

Ms. Sujata Mistri, Adv.

Mr. Soubhik Dey, Adv.

...for the Respondent nos.1 to 3.

1.

Learned advocate representing the petitioners and the bank submits that they have come to a formal settlement with regard to the suspension of the Cash Credit and Guaranteed Emergency Credit Line Account on or before 31st July, 2025 on the following lines:- 2.

The petitioners will utilise the amount maintained in the various fixed deposits available with the bank amounting to Rs.19,31,295/- for liquidating the dues payable to the bank. 3.

The bank guarantee for a sum of Rs.1,75,75,920/- will be held by the bank for its entire term and will be returned with interest to the petitioners after the expiry of the claim period. 4.

No debit or credit shall be done in the said account and the terms and conditions of the loan account shall stand suspended on and from the date of suspension of the account.

5.

The petitioners' prayer for reduction of loan processing fees for not operating the bank account after 31st July, 2025 is left open to be

decided by the bank upon hearing the representative of the petitioners.

6.

The issue of re-compensation is not decided in the instant proceeding and the same is left open to be decided by the bank upon hearing the representative of the petitioners. 7.

The writ petition stands disposed of.

8.

Urgent photostat certified copy of this order, if applied for, be supplied to the parties upon compliance of all legal formalities. (AMRITA SINHA, J.) nm