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2020 Supreme(Kar) 584

SURAJ GOVINDARAJ
Velankani Information Systems Limited – Appellant
Versus
Secretary, Ministry of Home Affairs, New Delhi – Respondent


Advocates:
Advocate Appeared:
For the Petitioners: Sri. Basava Prabhu Patil, Ms. Smitha Singh.
For the Respondents: Sri. M.B. Naragund, Sri. M.N. Kumar, Sri. R.V.S. Naik, Sri. T. Suryanarayana, Sri. Udaya Holla, Sri. H.N. Vasudevan, Sri. Dyan Chinnappa, Sri. Rawley Muddappa, Sri. Vijay Kumar V.

ORDER :

1. The Petitioner is before this Court seeking:

    1.1. For directions to Respondent Nos. 1 to 4 to enforce the Regulatory Package announced by the Reserve Bank of India (RBI for short) in letter and spirit.

1.2. For quashing and setting aside the decision of Respondent No. 5-HDFC Bank as per communications dated 06.04.2020 and 08.04.2020, the decision of Respondent No. 6 as per communication dated 28.04.2020, the decision of Respondent No. 7 as per communication dated 24.04.2020 and 22.02.2020.

1.3. A direction to Respondent Nos. 5, 6 and 7 to grant moratorium as regards payment of all term loan instalments falling due.

1.4. Consequently to restrain Respondent Nos. 5 to 7 from recovering loan repayment instalments/EMI due in respect of Loan Account Nos. 009LN18173530003 and 009LN18173530002 of Respondent No. 5, Loan Account Nos. 14377600006908 and 14377600006916 of Respondent No. 6 and Loan Account Nos. 80001471 and 80001472 of Respondent No. 7 in any manner.

1.5. To direct Respondent No. 5 to reverse the recovery of EMI of Rs. 3,45,47,459.96 effected for March and April 2020 and Respondent No. 6 to reverse the recovery of EMI of Rs. 2,29,48,565/- effected for March and April 2020.

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