Honourable Justice Abhinand Kumar Sahili disposed of Writ Petition No. 3955 of 2021 filed by a company against the RBI, Reserve Bank, and Axis Bank regarding loan moratorium. The court ordered the petition's closure without costs after the grievance was resolved.
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HIGH COURT FOR THE STATE OF TELANGANA AT HYDERABAD
(Special Original J urisdiction)
N/ONDAY, THE THIRTEENTH DAY OF SEPTEN/BER rWO THOUSAND AND TWENTY ONE
PRESENT
THE HONOURABLE SRI JUSTICE ABHINAND KUMAR SHAVILI
WRIT PETITION NO: 3955 OF 2021
Betwee n:
Ms Sathavrhanalspat Limited, #505, Block l, Divyashakti Complex, Ameerpet, Hyderabgd TG - 500 0 16. Represented by its Assistant General fvlanager - Legal bnd HR, IMr. R.S.V. Prasad
...PETITIONER
AND
R.P.Road, Secunderabad, T.G. - 500 003
...RESPONDENTS
Petition under Article 226 of the Constitution of lndia praying that in the circumstances stated in the affidavit filed therewith, the High Court may be pleased to issue a writ, direction or order more particularly in the nature of a writ of mandamus declare the inactron of the Respondent No. 3 and 4 Bank in not extending the benefit of moratonum for instalmenls payable for a period between I [r,4arch 2020 till 31 August 2020 to the Petitioner Company as violative of Article 1 4, 1 I and 21 of the Constitution of lndia, and action of Respondent No.4 in imposing penal charges, and inte rest-on-inte rest, as illegal, irrational and arbitrary, and direct the Respondent No. 3 and 4 Bank to comply with Respondent No. 2 Circular d\ 2710312020,2310512020, aft 2611012020, and Respondent No.1 guidelines issued vide Letter F. No. 211212020-BOA.| 2311012020 in respect of the Loan Account No. CVR00801990939, cvR000801 991 444, AUR000801 930439, CVR000801 92851 6, CVR000B01 9285 1 5, CVR000802088467, CER000802088541 and CVR000801928508 of the Petitioner Company maintained with Respondent No. 4 Bank,and direct the Respondent No. 4 Bank to release all such amounts received towards the loan accounts between I March 2020 tilt 31 August 2020 through the posldated cheques collected at time of loan sanction, and for any consequential action thereto, and further, direct Respondent No. 2 to take corrective and punitive actions against Respondent No. 3 and 4 Banks for not extending the benefit of Respondent No. 2 Circular(it 2710312020. 2310512420, and 2611012020, and Respondent No.1 guidelrnes iss.ri:d vide Letter E. No. 211212020-BOA.1 dl 2311012020 to the Petitioner Company
IA NO i 1 0F 2021
Petition under section 151cPC prayingthat in the circumstances stated in the affidavit filed insupportof the petition,the HighCourt may be pleasedto pass an order to restrain theRespondent No, 3 and 4 Banks from taking. any coerciveSteps, more particularly innatureof demandor recovery in respectof Loan Account No. cvR008ol 990939,CVROOO801 991 444, AUR000801930439,cVR000B01 928s1 6, CVR000801928515'CVR000802088467,CER000802088541and cvR000801928508of the Petitionercompany by the RespondentNo 4 Bank for instaltmentspayablewithinmoratoriumperiod i.e. betweenI lvlarch, 2020 to 31 Auqr.rst. 2020
Counsel for thePetitioner:SRI BOKARO LOKESHWAR REDDY
Counsel for theRespondent Nos.1& 2: SRIPALLE NAGESWARA RAO S.C. FOR CENTRALGOVERNMENT
Counsel forthe RespondentNos.3 & 4: SRI PUSULURI SHASHI KIRAN
The Court made thefollowing:ORDER
IIOYI]Lh SItl ,,trSTl( ta AIIHINANt) KLTMAIt SItA/ILI \ til t' Prl'l't'f I O\ \u.-1955 ol'2021
oril)l_rt:
l. When the rnatter is taken up for hearing, leamed counsel for the petitioner informed the cour-t that the grievance of the petitioner has been resolved and no further orders need to be passed in this writ petition.
.As a secprel. the miscellaneous petitions penciing, il- any. shall
st r)lc1 closc(i
SD/. K.SAILESHI ASSISTANT REGISTRAR
,TRUE COPY'
\
To
SECTION OFFICER^/'
- One CC to Sri Bokaro Lokeshwar Reddy, Advocate [OPUC]
.
HIGH COURT
DATED: 1310912021
ORDER
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WP.No.3955 of 2021
CLOSING THE WRIT PETITION WITHOUT COSTS.
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2 provisions across 2 enactments
Ms Sathavrhanalspat Limited
Secretary, Ministry of Finance, Government of India
The Governor, Reserve Bank of India
Axis Bank Limited
Abhinand Kumar Sahili
As recorded by the court registry
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