T.R.Vijaya Balamurugan v. The Reserve Bank of India
Case brief
What is this about?
Madurai Bench, Madras High Court; W.P(MD)No.4011 of 2026; decided 12.02.2026 by Dr.G.Jayachandran, J. (bench with K.K.Ramakrishnan, J.). Petitioners (T.R.Vijaya Balamurugan, Nagalakshmi, V.Naveen Kumar), borrowers under educational loan, gold loan and business loan from Canara Bank, challenged under Article 226 the e-auction sale notice dated 8.1.2026 (Ref.No.ARMCBE/EAUCTION/VBM/685/2025-2026) issued by the Authorized Officer, Asset Recovery Management Branch, Canara Bank, Coimbatore (e-auction fixed 15.2.2026), citing a pending One Time Settlement proposal and part-payment on 11.2.2026. Court held OTS with deferred instalments cannot be enforced by Court direction; borrower may pay before fall of hammer; writ dismissed with liberty for the Bank to consider representation/grant breathing time; no costs; connected W.M.P(MD)No.3290 of 2026 closed. Keywords: Canara Bank, e-auction, sale notice quash, One Time Settlement, SARFAESI-type recovery challenge (Act not cited in text), Article 226 certiorari, Dindigul/Coimbatore branches.