Disposed

M/s I R I S Electronics India Private Limited and Anr. v. Reserve Bank Of India Through Its Regional Director and Ors.

Patna HC10 May 2017CWJC/5347/2017

Case brief

AI extract

What is this about?

A writ petition challenging an NPA notice and demand notice for Rs. 1.49 crore issued by Axis Bank. The High Court directed the bank to reconsider the petitioners' objections and pass a reasoned order before taking further action, subsequently disposing of the writ application.

What did the court decide?

Bank directed to reconsider petitioners' objection and pass reasoned order before taking further action.

M/s I R I S Electronics India Private Limited and Anr. Vs… — Banking and Recovery | Patna HC (2017)

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IN THE HIGH COURT OF JUDICATURE AT PATNA Civil Writ Jurisdiction Case No.5347 of 2017

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M/s I R I S Electronics India Private Limited, a Company incorporated under the provisions of the Companies Act, Plot No.CH-29, Sri Krishna Nagar, Kidwaipuri, Patna, Bihar.

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Zakir Hussain, son of Late Wazir Hussain Khan, resident of 68, South Gandhi Nagar, Boring Canal Road, P.S.- Sri Krishnapuri, Patna- 800001.

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.... .... Petitioner/s

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Versus

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Reserve Bank of India through its Regional Director South Gandhi Maidan, P.S.- Gandhi Maidan, Patna.

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The Axis Bank Limited, having its registered office at TRISHUL, opposite Samasrdheshwar Temple, Near Law Garden, Ellis Bridge, Ahmedabad- 380006, through its Chairman-cum-Managing Director. 3. The Authorized Officer, Axis Bank Limited, Expressed Assets- East,1, Shakespeare Sarani, 3rd Floor, A.C. Market Building, Kolkata.

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The Branch Manager Incharge, Axis Bank Limited, S.M.E. Branch, Patna.

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.... .... Respondents

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====================================================== Appearance:

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For the Petitioner/s: Mr. Suraj Samdarshi, Advocate.

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For the Respondent no. 1 (Bank): Mr. Kaushal Kumar Jha, Advocate.

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CORAM: HONOURABLE MR. JUSTICE SHIVAJI PANDEY ORAL ORDER

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2 10-05-2017 Heard counsel for the petitioners and counsel for the

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State.

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The petitioner is challenging the Notice dated 06.03.2017 issued by the Authorized Officer of Axis Bank Limited, Stressed Assets – East, Kolkata whereby the accounts of the petitioners have been declared Non Performing Assets (NPA) and petitioners have been directed to return the amount Rs. 1,49,94,273.21. Counsel for the petitioners submits that the petitioners, on receipt of the Notice, have already filed objection

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Patna High Court CWJC No.5347 of 2017 (2) dt.10-05-2017

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2/2

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which is under consideration.

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Considering the facts aforesaid, let the Bank reconsider the objection of the petitioners and pass a reasoned order before taking any action in consideration of the plea of petitioner.

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The writ application is accordingly disposed of.

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(Shivaji Pandey, J)

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Dilip, AR

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M/s I R I S Electronics India Private Limited and Anr. v. Reserve Bank Of India Through Its Regional Director and Ors.

Case brief

What is this about?

What did the court decide?

M/s I R I S Electronics India Private Limited and Anr. v. Reserve Bank Of India Through Its Regional Director and Ors.

Case brief

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What did the court decide?

What the court decided

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