Kerala High Court

Mylath Sandeep vs Reserve Bank Of India on 26 March, 2021

         IN THE HIGH COURT OF KERALA AT ERNAKULAM

                         PRESENT

           THE HONOURABLE MR.JUSTICE N.NAGARESH

 FRIDAY, THE 26TH DAY OF MARCH 2021 / 5TH CHAITHRA, 1943

                WP(C).No.24771 OF 2020(V)


PETITIONERS:

     1     MYLATH SANDEEP,
           AGED 49 YEARS,
           S/O.NARAYANAN KUTTY,
           PROPRIETOR M/S. NANDANAM SANITARIES,
           NEAR SOBHA CITY,
           KUNNAMKULAM RD.,
           PUZHAKKAL P.O.,
           TRISSUR - 680 003.

     2     DEEPA P.,
           AGED 42 YEARS,
           W/O.MYLATH, SANDEEP,
           RESIDING AT MYLATH HOUSE,
           KANNAPURAM, CHETTUPUZHA P.O.,
           TRISSUR - 680 012.

           BY ADVS.
           SRI.R.S.KALKURA
           SRI.HARISH GOPINATH
           SMT.NEENU PAVITHRAN

RESPONDENTS:

     1     RESERVE BANK OF INDIA,
           REGIONAL OFFICE, TRIVANDRUM,
           BAKERY JUNCTION, P.B.NO.6507,
           THIRUVANANTHAPURAM - 695 033,
           REPRESENTED BY ITS REGIONAL DIRECTOR.

     2     NATIONAL CREDIT GUARANTEE TRUSTEE COMPANY LTD.,
           MINISTRY OF FINANCE,
           GOVERNMENT OF INDIA,
           HAVING ITS REGISTERED OFFICE
           SWALAMBAN BHAVAN, C11, G BLOCK,
           BANDRA KURLA COMPLEX, BANDRA E,
           MUMBAI - 400 051,
           REPRESENTED BY ITS MANAGING DIRECTOR.
 WP(C) Nos.24771/2020 & 4737/2021
                                   :2 :


       3      BAJAJ FINANCE LTD.,
              REGISTERED OFFICE AKURDI,
              PUNE, CORPORATE OFFICE,
              4TH FLOOR, BEHIND WEIKFIELD,
              IT PARK VIMAN NAGAR, PUNE 411014,
              REPRESENTED BY ITS MANAGING DIRECTOR.

       4      BAJAJ FINANCE LTD.,
              DD TRADE TOWER, 3RD FLOOR,
              KALOOR KATHRIKADAVU ROAD,
              OPP. WELLMART SUPER MARKET,
              KALOOR, COCHIN - 682017,
              KERALA, INDIA,
              REPRESENTED BY ITS AREA CREDIT MANAGER.

       5      UNION OF INDIA,
              REPRESENTED BY SECRETARY TO GOVERNMENT,
              DEPARTMENT OF FINANCIAL SERVICES,
              3RD FLOOR, JEEVAN DEEP BUILDING,
              SANSAD MARG, NEW DELHI - 110 001.

              R3-4 BY ADV. SRI.B.S.SURESH KUMAR
              R5 BY SRI.DINESH CHERUKAT, SC, RAILWAYS

     THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 26.03.2021, ALONG WITH WP(C).4737/2021(N), THE COURT ON
THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) Nos.24771/2020 & 4737/2021
                                    :3 :


           IN THE HIGH COURT OF KERALA AT ERNAKULAM

                                   PRESENT

              THE HONOURABLE MR.JUSTICE N.NAGARESH

  FRIDAY, THE 26TH DAY OF MARCH 2021 / 5TH CHAITHRA, 1943

                      WP(C).No.4737 OF 2021(N)


PETITIONERS:

       1      MYLATH SANDEEP,
              AGED 49 YEARS,
              S/O. NARAYANAN KUTTY,
              MYLATH HOUSE, KANNAPURAM,
              CHETTUPUZHA P.O.,
              THRISSUR-680 012.

       2      DEEPA P.,
              AGED 42 YEARS,
              W/O. MYLATH SANDEEP,
              RESIDING AT MYLATH HOUSE,
              KANNAPURAM, CHETTUPUZHA P.O.,
              THRISSUR-680 012.

              BY ADV. SRI.R.S.KALKURA

RESPONDENTS:

       1      RESERVE BANK OF INDIA,
              REGIONAL OFFICE,
              TRIVANDRUM,
              BAKERY JUNCTION,
              P.B.NO.6507,
              THIRUVANANTHAPURAM-695 033,
              REPRESENTED BY ITS REGIONAL DIRECTOR.

       2      M/s. KOTAK MAHINDRA BANK LTD.,
              5TH FLOOR, SAMSUNG TOWERS,
              402L, PANTHEON ROAD,
              EGMORE,
              CHENNAI-600008,
              REPRESENTED BY ITS MANAGER.
 WP(C) Nos.24771/2020 & 4737/2021
                                   :4 :


       3      M/s.KOTAK MAHINDRA BANK LTD.,
              1ST FLOOR, OPPOSITE HOTEL INTERNATIONAL,
              KANAKA DAMODAR BUILDING,
              VEEKSHANAM ROAD,
              KOCHI-682 035,
              REPRESENTED BY ITS MANAGER.

       4      UNION OF INDIA,
              REPRESENTED BY ITS SECRETARY TO GOVERNMENT,
              DEPARTMENT OF FINANCIAL SERVICES,
              3RD FLOOR, JEEVAN DEEP BUILDING,
              SANSADMARG, NEW DELHI-110 001.

              R4 BY ADV. SMT.M.S.KIRAN, CGC
              R4 BY SRI.P. VIJAYAKUMAR, ASGI
              SMT. RADHIKA RAJASEKHARAN

     THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD
ON 26.03.2021, ALONG WITH WP(C).24771/2020(V), THE COURT ON
THE SAME DAY DELIVERED THE FOLLOWING:
 WP(C) Nos.24771/2020 & 4737/2021
                                   :5 :



                          JUDGMENT

~~~~~~~~~

Dated this the 26th day of March, 2021

[WP(C) Nos.24771/2020 & 4737/2021]

The petitioners in these two writ petitions are

husband and wife. W.P.(C) No.24771/2020 has been filed by

the petitioners seeking to direct respondents 3 and 4 to grant

the benefit of financial assistance as envisaged under Ext.P4

Emergency Credit Line Guarantee Scheme (ECLGS).

2. W.P.(C) No.4737/2021 has been filed seeking to

direct respondents 2 and 3 to restructure the home loan availed

by the petitioners or in the alternative direct respondents 1 and

4 to oversee that respondents 2 and 3 grant the benefit

envisaged under Ext.P1 Circular dated 06.08.2020 of the

Reserve Bank of India including restructuring of loan to the

petitioners within a time limit to be prescribed by this Court.

3. The learned Standing Counsel for respondents 3

and 4 in W.P.(C) No.24771/2020 pointed out that for

considering the application for revival and restructuring of loan, WP(C) Nos.24771/2020 & 4737/2021

they issued Ext.R3(a) letter dated 08.12.2020 to the petitioners

requesting to furnish the financials for the year 2019-2020.

However, the petitioners have not made available the

financials.

4. The learned Standing Counsel for respondents 2

and 3 in W.P.(C) No.4737/2021, on instructions, submitted that

the petitioners have not produced financials of the relevant

period, for considering their request.

In the circumstances, the writ petitions are disposed

of directing the petitioners to produce requisite financials before

respondents 3 and 4 in W.P.(C) No.24771/2020 and

respondents 2 and 3 in W.P.(C) No.4737/2021. If the

petitioners produce the requisite documents on or before

29.03.2021, the respondents-financial institutions will consider

the applications submitted by the petitioners and take a

decision without further delay and at any rate, before the expiry

of the period of the relevant Scheme.

Sd/-

N. NAGARESH, JUDGE

aks/26.03.2021 WP(C) Nos.24771/2020 & 4737/2021

APPENDIX OF WP(C) 24771/2020 PETITIONERS' EXHIBITS:

EXHIBIT P1 TRUE COPY OF THE LETTER OF SANCTION DATED 28/10/2014 EXECUTED BY THE PETITIONERS IN FAVOR OF THE 4TH RESPONDENT.

EXHIBIT P2 TRUE COPY OF THE RELEVANT PORTION OF THE LOAN AGREEMENT DATED 28/10/2014 EXECUTED BY THE PETITIONERS IN FAVOR OF THE 4TH RESPONDENT.

EXHIBIT P3 THE TRUE COPY OF THE FINANCIAL STATEMENT PERTAINING TO M/S.NANDANAM SANITARIES AS ON 31/3/2017.

EXHIBIT P4 THE TRUE COPY OF THE EMERGENCY CREDIT LINE GUARANTEE SCHEME UPDATED AS ON 31/10/2020.

EXHIBIT P5 TRUE COPY OF THE REGISTRATION CERTIFICATE UNDER THE GST VALID FROM 21/9/2017.

EXHIBIT P6 TRUE COPY OF THE NOTICE DATED 28/8/2020 ISSUED BY THE RESPONDENTS 3 AND 4 THROUGH THEIR COUNSEL.

EXHIBIT P7              TRUE COPY OF THE REPLY DATED 18/10/2020
                        ISSUED   BY   THE    COUNSEL  FOR   THE

PETITIONERS TO THE COUNSEL FOR THE RESPONDENTS 3 AND 4.

EXHIBIT P8 TRUE COPY OF THE EMAIL DATED 1/10/2020 ISSUED BY THE PETITIONERS TO THE 3RD RESPONDENT.

EXHIBIT P9 TRUE COPY OF THE EMAIL DATED 7/11/2020 ISSUED BY THE PETITIONERS TO THE 3RD RESPONDENT.

WP(C) Nos.24771/2020 & 4737/2021

EXHIBIT P10 TRUE COPY OF THE PRESS RELEASE DATED 30.12.2020 ISSUED BY THE MINISTRY OF FINANCE.

EXHIBIT P11 TRUE COPY OF THE NOTICE DATED 25/1/2021 ISSUED BY THE 3RD RESPONDENT TO THE PETITIONERS

EXHIBIT P12 TRUE COPY OF THE NOTICE DATED 12.2.2021 ISSUED BY THE 3RD RESPONDENT.

EXHIBIT P13 TRUE COPY OF THE E-MAIL DATED 17.03.2021 ISSUED BY THE DIRECTOR, MSME TO THE PETITIONER AS WELL AS RESPONDENTS 3 AND 4

RESPONDENTS EXHIBITS:

EXHIBIT R3(a) TRUE COPY OF THE LETTER DATED 08.12.2020 WITH POSTAL RECEIPT ISSUED BY RESPONDENT Nos.3 TO 4 TO THE PETITIONER.

EXHIBIT R3(b) TRUE COPY OF THE GUIDELINES ISSUED BY RESERVE BANK OF INDIA REGARDING RESTRUCTURING THE LOAN WP(C) Nos.24771/2020 & 4737/2021

APPENDIX OF WP(C) 4737/2021 PETITIONERS' EXHIBITS:

EXHIBIT P1 TRUE COPY OF CIRCULAR NO.RBI/2020-21/17 DOR NO.DP.BC4/21.4.048/2020-21 DATED 6.8.2020 ISSUED BY THE FIRST RESPONDENT.

EXHIBIT P2 TRUE COPY OF THE QUESTION ANSWER SESSION PUBLISHED BY HDFC BANK IN THE INTERNET.

EXHIBIT P3 TRUE COPY OF THE NOTICE DATED 6.11.2020 ISSUED BY THE RESPONDENTS 2 AND 3 TO THE PETITIONERS.

EXHIBIT P4 TRUE COPY OF THE NOTICE DATED 24.11.2020 ISSUED BY THE RESPONDENTS 2 AND 3 TO THE PETITIONERS.

EXHIBIT P5 TRUE COPY OF THE REPLY ISSUED BY THE PETITIONERS TO THE SUIT NOTICES DATED 6.11.2020.

EXHIBIT P6 TRUE COPY OF THE EMAIL DATED 21.10.2020 SENT BY THE PETITIONERS TO THE SECOND RESPONDENT.

EXHIBIT P7 TRUE COPY OF THE EMAIL DATED 2.11.2020 ISSUED BY THE 2ND RESPONDENT TO THE PETITIONERS.

EXHIBIT P8 TRUE COPY OF THE EMAIL DATED 7.11.2020 ISSUED BY THE PETITIONERS TO THE SECOND RESPONDENT.

EXHIBIT P9              TRUE COPY OF THE EMAIL DATED 17.11.2020
                        ISSUED    BY    THE   PETITIONERS    TO
                        RESPONDENTS 2 AND 3.

EXHIBIT P10             TRUE COPY OF THE EMAIL DATED 25.1.2021

ISSUED BY THE SECOND RESPONDENT TO THE PETITIONERS.

WP(C) Nos.24771/2020 & 4737/2021

EXHIBIT P11 TRUE COPY OF THE NOTICE DATED 19.2.2021 ISSUED UNDER THE INSTRUCTIONS OF THE 2ND RESPONDENT TO THE 1ST PETITIONER