Smt Gayatri Devi P v. the Reserve Bank of India
Case brief
What is this about?
High Court of Karnataka at Bengaluru; WP No. 23560 of 2021 (GM-RES); decided 01-04-2025 by Justice Suraj Govindaraj; Article 226 mandamus; Reserve Bank of India; cancellation of banking licence of South Indian Bank; alleged violation of RBI regulations; loan sanctioned and released same day in one lump sum; alleged fraud by bank officials; petitioners Gayatri Devi P., Subhashini, Shashikiran and Ravikiran (GPA holder for Petitioners 1-3); Respondent No.4 Venugopal R., proprietor M/s Sri Sai Lakshmi Engineers Builders and Developers; one-time settlement; loan settled, nothing due to bank; petition disposed without merits adjudication; RBI non-representation flagged; DSG Shantibushan H directed to communicate; Mysore; Mahalakshmi Puram branch.
What did the court decide?
On counsel for Respondent No.2 placing on record that the petitioners' loan has been settled under one-time settlement with the entire amount paid and nothing due to the bank, the writ petition stands disposed of; no adjudication of the licence-cancellation or fraud allegations on the merits.