Pioneer Cold store and Cladding Pvt. Ltd. Vs Reserve bank of India

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WP No. 24152 of 2026

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IN THE HIGH COURT OF JUDICATURE AT MADRAS

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DATED: 29-06-2026

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CORAM

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THE HON'BLE MR.JUSTICE MOHAMMED SHAFFIQ WP No. 24152 of 2026

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Pioneer Coldstore and Cladding Pvt Ltd Represented by its Authorised Signatory, V. Vasantha Kumar, S/o N.s. Venugopal No 25 Pallavan Nagar Mani Road, Maduravoyal, Chennai 600 095.

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..Petitioner(s)

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Vs

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Reserve bank of India Fort Glacis, 16 Balaji Road, Fort St George, Chennai 600 001.

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IndusInd Bank Brach East Mogappair, Represented by its Regional Head Ramesh Vasudevan M M towers, 50 Thiruvallur Main Road,Salai Opposite to Spartan Matric School, Kongu Nagar, Mogappair East, Chennai 600 050.

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..Respondent(s)

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PRAYER: Writ Petition filed under Article 226 of the Constitution of India, pleased to issue a Writ of Mandamus, direct the 2nd Respondent to release the sum of Rs 58,08,177/- from Cash credit account having account No 6500104063359 which has been placed under debit freeze by the 2nd Respondent and consequently release the documents having Doc No. 3379/ 2021 dated 26.11.2021 and Doc No. 2730 / 2023 dated 13.07.2023.

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

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WP No. 24152 of 2026

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For Petitioner(s): Ms.Dhaaranee for Mr.V.Srimathi

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ORDER

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The present writ petition is filed praying for a Writ of Mandamus. to direct 2nd Respondent to release a sum of Rs 58,08,177/- from cash credit account having account No 6500104063359 which has been placed under debit freeze by 2nd Respondent and consequently release the documents having Doc No. 3379/ 2021 dated 26.11.2021 and Doc No. 2730 / 2023 dated 13.07.2023.

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Learned counsel for petitioner would submit that petitioner Company, aggrieved by the alleged arbitrary freezing of its funds has approached the ombudsman under the Reserve Bank - Integrated Ombudsman, Scheme 2021. It is also noted that vide proceeding dated 08.12.2025, the office of the RBI Ombudsman, Reserve Bank of India, registered the complaint under complaint No.N202526006011359. The office further stated that maintainability or otherwise of the complaint under the Reserve Bank - Integrated Ombudsman Scheme 2021 will be examined and action taken would be advised to the petitioner in due course. The relevant portion is extracted hereunder.

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“2. The maintainability or otherwise of your complaint

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

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WP No. 24152 of 2026

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under the Reserve Bank - Integrated Ombudsman Scheme 2021 will be examined and the action taken would be advised to the petitioner in due course.”

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To a pointed question as to whether there has been any communication

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from the RBI thereafter, learned counsel for the petitioner would submit that there has been none, despite the petitioner having put forth its explanation. He would submit that the maintainability or any order on merits is yet to be passed by the ombudsman under the Reserve Bank- Integrated Ombudsman Scheme 2021.

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In that view of the matter, this court finds that the writ petition is premature. When this was pointed out, learned counsel for petitioner would only request that the ombudsman may be directed to dispose of the complaint within a stipulated time frame.

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Considering the request, this court is inclined to direct the Ombudsman Authority to dispose of the said complaint on its own merits and pass orders in accordance with law, within a period of four weeks from the date of uploading of web copy without waiting for receipt of certified copy of the order . If, however, the complaint has already been disposed of, the proceeding shall be communicated to petitioner within a period of two weeks. If aggrieved, it is

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WP No. 24152 of 2026

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open to the aggrieved party to work out its remedies in the manner known to law. It is made clear that this Court has not expressed any views with regard to the merits of the case and it is open to the concerned Authority to consider the

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case on its own merits and in accordance with law.

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6. Accordingly, the writ petition stands disposed of. No costs.

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29-06-2026

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Index: Yes/No Speaking/Non-speaking order Neutral Citation: Yes/No

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jv

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To

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Reserve bank of India Fort Glacis, 16 Balaji Road, Fort St George, Chennai 600 001.

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The Regional Head Ramesh Vasudevan IndusInd Bank Brach East Mogappair, M M towers, 50 Thiruvallur Main Road,Salai Opposite to Spartan Matric School, Kongu Nagar, Mogappair East, Chennai 600 050.

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

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WP No. 24152 of 2026

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MOHAMMED SHAFFIQ, J.

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jv

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WP No. 24152 of 2026