M/S.Bhargava Knits v. the Authorized Officer
Case brief
What is this about?
The Madurai Bench of the Madras High Court closed a writ petition filed seeking a direction to accept an onetime settlement for loan accounts after the respondent bank disclosed that it had realized the entire outstanding amount via auction.
What the court decided
W.P(MD)NO.1536 OF 2021
BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 12.08.2021 CORAM:
THE HONOURABLE MR.JUSTICE M.DURAISWAMY AND
THE HONOURABLE MR.JUSTICE K.MURALI SHANKAR W.P(MD)NO.1536 OF 2021 and W.M.P(MD)No.1315 of 2021
M/s.Bhargava Knits, represented by its Proprietor, Manoharan. :Petitioner
.vs.
The Authorized Officer, Tamil Nadu Industrial Investment Corporation Limited, No.66/1, First Floor, Senguthapuram 5th Cross, Karur-639 002. : Respondent
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 accept Rs.21,00,000/- from the Petitioner as onetime settlement(OTS) towards the Loan Accounts No.55B0962 and 5.5T0990 (Borrower No.9899 0970)held in the respondents Branch.
For Petitioner : Mr.I.Velpradeep For Respondent : Mr.B.Saravanan
[Order of the Court was made by M.DURAISWAMY.,J. ]
Parties & counsel
- petitioner
M/s. Bhargava Knits
- respondent
The Authorized Officer, Tamil Nadu Industrial Investment Corporation Limited
Coram
Case details
As recorded by the court registry
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