Dismissed

M/S.Swathikas Jewellers v. the Secretary

Madras HC7 Jun 2021WP(MD)/2359/2021

Case brief

AI extract

What is this about?

In this writ petition under Article 226, the petitioner sought a direction for respondents 1 and 2 to instruct the bank to restructure loans under MSME guidelines. The court noted the bank had already replied to the petitioner's representation and the matter was pending elsewhere, leading to dismissal.

What did the court decide?

Writ petition dismissed. Petitioner directed to work out remedy in the manner known to law. No costs awarded.

M/S.Swathikas Jewellers Vs the Secretary — Banking and Recovery | Madras HC (2021)

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W.P.[MD]No.2359 of 2021

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BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT DATED: 07.06.2021 CORAM:

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THE HONOURABLE MR.JUSTICE T.S.SIVAGNANAM AND THE HONOURABLE MRS.JUSTICE S.ANANTHI W.P.[MD]No.2359 of 2021 and W.M.P(MD)No.1960 of 2021

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M/s.Swathikas Jewellers Rep. by its Managing Partner Mr.K.Suresh Having Office at No.6/25-3, Main Road, Marthandam, Kanyakumari District. ... Petitioner Vs. 1.The Secretary Ministry of Micro Small and Medium Enterprises, Room No.123, Udyog Bhavan, Rafi Marg, New Delhi - 110 011. 2.The Chief General Manager Department of Banking Operations and Development, Reserve Bank of India, 12th floor, Central Office Building, Shahid Bhagat Singh Mrg, Fort, Mumbai - 400 001. 3.The Chairman cum Managing Director, Karur Vysya Bank Ltd., Central Office, Karur. 4.The Chief Manager Karur Vysya Bank Ltd., Marthandam Branch Marthandam, Kanyakumari District. ... Respondents PRAYER: Writ Petition filed under Article 226 of the Constitution of India, for issuance of Writ of Mandamus, directing the respondents 1 and 2 to give necessary instruction to the respondents 3 and 4 to follow the Guidelines brought by the first respondent for Micro, Small and Medium Enterprises (MSME) sector Restructuring of Advances in RBI/2018-19/100, DBR.No.BP.BC.18/ 21.04.048/ 2018-19 on January 01, 2019, RBI/2020-21/09 DoR BP BC.No.01/21.04.048/2020-21 dated 01.07.2020 and Circular No.170/2020-21 dated June, 2020 w.e.f.24.6.2020 for Restructuring the petitioner's vide OCC Loan https://hcservices.ecourts.gov.in/hcservices/

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W.P.[MD]No.2359 of 2021

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Account No.178622300000020, another OCC Loan Account No.176879100000018 and Term Loan Account No.1768280000043 which has been averred in the petitioner's representation, dated 30.12.2020.

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For Petitioner : Mr.A.Srinivasan, for Mr.M.Natarajan For 4th Respondent : Mr.V.Sukumar For Respondents 1 to 3 : No Appearance

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ORDER

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[Order of the Court was made by T.S.SIVAGNANAM, J.]

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We have heard Mr.A.Srinivasan, learned counsel appearing for the petitioner and Mr.V.Sukumar, learned Standing Counsel appearing for the fourth respondent bank.

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The petitioner seeks for a direction upon the respondents 1 and 2 to give necessary instruction to the respondents 3 and 4 to follow the Guidelines brought by the first respondent for Micro, Small and Medium Enterprises (MSME) sector Restructuring of Advances inRBI/2018-19/100, DBR.No.BP.BC.18/ 21.04.048/ 2018-19 on January 01, 2019, RBI/2020-21/09 DoR BP BC.No. 01/21.04.048 / 2020-21 dated 01.07.2020 and Circular No. 170/2020-21 dated June, 2020 w.e.f.24.6.2020 for Restructuring the petitioner's vide OCC Loan Account No.178622300000020, another OCC Loan Account No.176879100000018 and Term Loan Account No.1768280000043 which has been averred in the petitioner's representation, dated 30.12.2020.

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3.The learned Standing Counsel appearing for the respondent Bank, on instructions, submitted that already the representation was considered and appropriate reply has been sent on 20.02.2021. That apart the petitioner moved the High Court of Kerala, by filing a writ petition in WP(c)No.4419 of 2021 for permission to remit the loan in instalments.

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4.Considering all these facts, the present writ petition cannot be entertained. Hence, the writ petition is dismissed. It is open to the petitioner to work out the remedy in the manner known to law. No Costs. Consequently, connected miscellaneous petition is closed.

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Sd/-

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Assistant Registrar (CS III)

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// True Copy //

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/ /2021 Sub Assistant Registrar(CS)

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https://hcservices.ecourts.gov.in/hcservices/ rm/ksa

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W.P.[MD]No.2359 of 2021

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Note In view of the present lock down owing : to COVID-19 pandemic, a web copy of the order may be utilized for official purposes, but, ensuring that the copy of the order that is presented is the correct copy, shall be the responsibility of the advocate/litigant concerned.

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W.P.[MD]No.2359 of 2021 07.06.2021

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KK(16.06.2021) 3P 1C

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https://hcservices.ecourts.gov.in/hcservices/

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M/S.Swathikas Jewellers v. the Secretary

Case brief

What is this about?

What did the court decide?

M/S.Swathikas Jewellers v. the Secretary

Case brief

What is this about?

What did the court decide?

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Statutes considered

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