Dismissed

M/S.Ragavendra Blue Metal Pvt. v. M/S.Punjab National Bank

Madras HC21 Feb 2023WP(MD)/10560/2016

Case brief

AI extract

What is this about?

The petitioner sought a writ demanding execution of a charge agreement and release of loan limits. With no representation from the petitioner on the dates of listing for dismissal, the Court dismissed the petition for non-prosecution.

What did the court decide?

The writ petition is dismissed for non-prosecution. No costs. Connected miscellaneous petition closed.

M/S.Ragavendra Blue Metal Pvt. Vs M/S.Punjab National Bank — Banking and Recovery | Madras HC (2023)

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W.P(MD)No.10560 of 2016

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BEFORE THE MADURAI BENCH OF MADRAS HIGH COURT

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DATED: 21.02.2023

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CORAM:

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THE HONOURABLE MR.JUSTICE B.PUGALENDHI

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W.P(MD)No.10560 of 2016 and W.M.P.(MD) No.8212 of 2016

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M/s.Ragavendra Blue Metal Pvt. Ltd., No.2/111, Pillayarnatham, Pithalaipatti Post, Dindigul 624 002, Rep. herein by its Director, Mr.Kannan

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...Petitioner

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Vs.

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1.M/s.Punjab National Bank

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Branch Office, No.284-285, West Masi Street, Madurai - 625 001, Rep. by its Chief Manager

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2.M/s.Punjab National Bank Circle Office,

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PNB House, Trichy Thanjavur Road, Kailasapuram, Trichy - 620 014, Rep. by its Circle Head

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1/5

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https://www.mhc.tn.gov.in/judis

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W.P(MD)No.10560 of 2016

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3.M/s.Punjab National Bank Zonal Office, 3rd Floor Royola Towers, Anna Salai, Chennai - 600 002, Rep. by its Zonal Manager

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4.M/s.Syndicate Bank Branch Office, R.S.Road, Nagal Nagar, Dindigul - 624 003, Rep. by its Chief Manager

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5.M/s.Syndicate Bank Regional Office, Claret Plaza, No.145, Melakkal Main Road, Kochadai, Madurai - 625 016, Rep. by its Regional Manager

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6.M/s.Syndicate Bank Corporate Office, II Cross, Gandhi Nagar, Bangalore - 560 009, Rep. by its Authorized Officer

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...Respondents

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PRAYER: Writ Petition filed under Article 226 of the Constitution of India, praying this Court to issue a Writ of Mandamus directing the first and fourth respondents to enter and execute the Inter Se Pari Pasu Charge Agreement between them and consequently direct the first respondent to release the remaining part of the Term Loan

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2/5

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https://www.mhc.tn.gov.in/judis

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W.P(MD)No.10560 of 2016

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Amount of Rs.2,82,77,354/- (Rupees Two Crores Eighty Two Lakhs Seventy Seven Thousand Three Hundred and Fifty Four only) and the Cash Credit (Hyp) limit of Rs.2,00,00,000/- (Rupees Two Crores only).

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For Petitioner : No appearance

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For Respondents : Mr.K.Giriprazath - for R1

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No Appearance - for R2 to R6

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O R D E R

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This writ petition is filed for a Mandamus, directing the first and fourth respondents to enter and execute the Inter Se Pari Pasu Charge Agreement between them and consequently direct the first respondent to release the remaining part of the Term Loan Amount of Rs.2,82,77,354/- (Rupees Two Crores Eighty Two Lakhs Seventy Seven Thousand Three Hundred and Fifty Four only) and the Cash Credit (Hyp) limit of Rs.2,00,00,000/- (Rupees Two Crores

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only).

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3/5

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https://www.mhc.tn.gov.in/judis

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W.P(MD)No.10560 of 2016

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2.On 20.02.2023, when the matter was taken up for hearing, there is no representation for the petitioner. Hence, the matter was ordered to be listed on 21.02.2023, under the caption “for dismissal”. Even today (21.02.2023), there is no representation for the petitioner.

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3.In view of the same, the Writ Petition is dismissed for

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non prosecution. No costs. Consequently, connected miscellaneous petition is closed.

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21.02.2023

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Index:Yes Internet:Yes RM

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4/5

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https://www.mhc.tn.gov.in/judis

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W.P(MD)No.10560 of 2016

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B.PUGALENDHI, J.

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Order made in W.P(MD)No.10560 of 2016

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21.02.2023

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5/5 https://www.mhc.tn.gov.in/judis

M/S.Ragavendra Blue Metal Pvt. v. M/S.Punjab National Bank

Case brief

What is this about?

What did the court decide?

M/S.Ragavendra Blue Metal Pvt. v. M/S.Punjab National Bank

Case brief

What is this about?

What did the court decide?

What the court decided

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