Rajasthan High Court - Jaipur
M/S Amarnath Milk Food Pvt. Ltd vs Bank Of India on 27 July, 2020
Author: Mahendar Kumar Goyal
Bench: Mahendar Kumar Goyal
HIGH COURT OF JUDICATURE FOR RAJASTHAN
BENCH AT JAIPUR
S.B. Civil Writ Petition No. 8662/2019
M/s Amarnath Milk Food Pvt. Ltd., Having Its Factory Office At B-
77, Growth Centre Extension, Riico Dholpur Through Its Director
Shri Mahesh Chand Singhal
----Petitioner
Versus
Bank Of India, Having Its Branch At Kamla Nagar, B-61, Central
Bank Road, Kamla Nagar, Agra.
----Respondent
For Petitioner(s) : Mr. Krishna Verma with Mr. Nirmal Kumar Goyal For Respondent(s) : Mr. Ajay Shukla HON'BLE MR. JUSTICE MAHENDAR KUMAR GOYAL Order 27/07/2020 This writ petition has been filed with the prayer that action of the respondent-Bank reckoning its loan account as non-performing asset be declared as illegal besides other consequential reliefs.
Learned counsel for the respondent submits that loan account of the petitioner has yet not been treated as NPA and vide letter dated 02.05.2019, the petitioner has been required to submit its objection as the statutory auditor of the Bank has proposed the account to be treated as NPA. He submits, on instructions, that if any such objections are filed by the petitioner, the same shall be considered in the light of prudential norms of the Reserve Bank of India. He also submits that till disposal of the objections, the petitioner shall be permitted to operate its loan account.
(D.B. SAW/36/2020 has been filed in this matter. Please refer the same for further orders) (Downloaded on 28/07/2020 at 09:38:44 PM) (2 of 2) [CW-8662/2019] Learned counsel for the petitioner has no objection if the writ petition is disposed of in the light of the averments made by the learned counsel for the respondent. However, he submits that the respondent-Bank may be directed to supply a copy of the report of the Forensic Audit of account as mentioned in the letter dated 02.05.2019.
In the aforesaid circumstances, this writ petition is disposed of with the following directions:-
(1) The respondent-Bank shall provide to the petitioner a copy of the report of the Forensic Audit of account within seven days from today as mentioned in the letter dated 02.05.2019.
(2) The petitioner-Company shall file its objections to the letter of the respondent-Bank dated 02.05.2019 within seven days from the date of receipt of the report of the Forensic Audit of account. (3) The objections, if any, as aforesaid, are filed within the aforesaid period, the respondent-Bank shall take a decision thereupon within a period of fifteen days thereafter, vide speaking order. Till the objections are decided by the respondent-Bank, it shall permit the petitioner-Company to operate its loan account.
(MAHENDAR KUMAR GOYAL),J DANISH USMANI /13 (D.B. SAW/36/2020 has been filed in this matter. Please refer the same for further orders) (Downloaded on 28/07/2020 at 09:38:44 PM) Powered by TCPDF (www.tcpdf.org)