Writ petition seeking withdrawal of fraud classification reported to CFR/RBI by the respondent bank and copies of the forensic audit report was disposed of in terms of a settlement agreement reached between the parties in mediation, with liberty to revive the petition if the cause of action arises again.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
1
2025:CGHC:33773
NAFR
HIGH COURT OF CHHATTISGARH, BILASPUR WPC No. 2598 of 2024
1 - M/s Bindal Energy Pvt. Ltd. (Erstwhile Name M/s Nikhil Coke And Minerals Pvt Ltd.) Through Its Director, Maruti Point, Savitri Nagar, Kotra Road, Near State Bank Of India, Raigarh, Chhattisgarh 496001
2 - Mr. Nand Kishore Agrawal S/o Late Shri Surajbhan Agrawal Aged About 60 Years Maruti Point, Savitri Nagar, Kotra Road, Near State Bank Of India, Raigarh, Chhattisgarh 496001
3 - Mr. Akhil Kumar Agrawal S/o Shri Nand Kishore Agrawal Aged About 35 Years Maruti Point, Savitri Nagar, Kotra Road, Near State Bank Of India, Raigarh Chhattisgarh 496001
4 - Mr. Gautam Agrawal S/o Shri Nand Kishore Agrawal Aged About 32 Years Maruti Point, Savitri Nagar, Kotra Road, Near State Bank Of India, Raigarh Chhattisgarh 496001
5 - Mr. Nikhil Agrawal S/o Shri Nand Kishore Agrawal Aged About 34 Years Maruti Point , Savitri Nagar, Kotra Road, Near State Bank Of India, Raigarh Chhattisgarh 496001.
... Petitioner(s)
versus
1 - Bank Of India Through Its Authorised Officer, Saheb Ram Sadan, Kotra Road, Raigarh Chhattisgarh 496001
2 - Bank Of India Through Its Authorised Officer, Raipur Main Branch, Samvet Shikhar Bhawan, Ekatm Parisar, Rajbandha Maidan, Raipur 492001 Chhattisgarh
3 - Bank Of India Through The Assistant General Manager, Asset Recovery Department, Zonal Officer Raipur Zone, 1st Floor, G.D. Shesh Nilayam, Tatyapara, Raipur 492001 Chhattisgarh.
4 - Bank Of India Through Its Authorised Officer, Star House C-5, G Block, Bandra Kurka Complex (East), Mumbai 400051, Maharashtra
2
5 - Reserve Bank Of India Through The Governor, 13th Floor, Central Office Building, Mumbai 400001.
---- Respondents
For Petitioners : Mr. Ankit Singhal, Advocate through virtual mode
assisted by Mr. Ashish Mittal, Advocate.
For Respondents : Mr. Anand Shukla, Advocate.
Hon'ble Shri Arvind Kumar Verma, Judge
Order on Board
17.07.2025
1. Petitioners have filed this writ petition with following reliefs:
“10.1 That this Hon'ble Court be pleased to issue an appropriate, writ order and/or directions under Article 226 of the Constitution of India to instruct the respondent bank to withdraw the reporting of fraud against petitioners from CFR / RBI.
10.2 That this Hon'ble Court be pleased to declare that the reporting by Respondent Nos. 1 to 4 to CFR / RBI that petitioners have committed fraud, do not comply with and/or are violative of Reserve Bank of India (Fraud classification and reporting by commercial banks and select FI's) Master Directions, 2016 issued on 1st July 2016 bearing No. RBI/DBS/2016-17/28 and/or even otherwise are bad in law and cannot be relied upon by Respondent lender or form any basis, to take any action as may be taken against the Petitioners along with others who are alleged to be guarantors and mortgagers or otherwise in law.
10.3 That this Hon'ble Court be pleased to issue an appropriate, writ order and / or directions under Article 226 of the Constitution of India, calling for the "records" in connection with the forensic audit conducted by CP Bhatia & Associates, compliances with RBI Guidelines and direct the respondent bank to provide the copies of same to the petitioners.
10.4 To allow the cost of this petition with any other appropriate relief(s) may kindly be granted to the
3
petitioners; and,
10.5 Any other relief or relief(s) which this Hon'ble Court may deem fit and proper in view of the facts and circumstances of the case, may also kindly be granted.”
2. Vide order dated 01.07.2025, parties were directed to appear before the Mediation Centre of the High Court for mediation.
3. In pursuance of order of this Court, on 11.07.2025 parties appeared before the mediation center, High Court of Chhattisgarh, Bilaspur.
4. Learned counsel for respondents submits that the parties have entered into the compromise and also executed an agreement named & styled as “Settlement Agreement” and under the terms of such compromise, learned counsel for the respondents wants to dispose of this petition.
5. At this stage, learned counsel for the petitioners submits that in the said settlement agreement, issue of declaration of the petitioners as fraud has not been considered and, as such, the present petition is required to be adjudicated by this Court. He further submits that petitioners may be given liberty to file fresh writ petition if occasion arises in future.
6. Perused the terms of compromise. Prima facie perusal of the same shows that the terms are reasonable.
7. Accordingly, the present petition is disposed of in terms of the compromise arrived at between the parties, however, petitioners will be at liberty to revive the same, if cause of action arises in future.
CC as per rules.
Sd/- (Arvind Kumar Verma) Judge
J/-
1 provisions across 1 enactments
M/s Bindal Energy Pvt. Ltd. (Erstwhile Name M/s Nikhil Coke And Minerals Pvt Ltd.)
Nand Kishore Agrawal
Akhil Kumar Agrawal
Gautam Agrawal
Nikhil Agrawal
Bank of India
Arvind Kumar Verma
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
