S. SUJATHA, P. KRISHNA BHAT
Governor Reserve Bank Of India – Appellant
Versus
Velankani Information Systems Limited – Respondent
JUDGMENT
1. This is an intra Court appeal filed under Section 4 of the Karnataka High Court Act, 1961, challenging the order dated 8.7.2020 passed in W.P.No.6775/2020.
2. Briefly stated the facts of the case are that, respondent No.1 herein had availed the term loan facilities from respondent Nos.5 to 7. Respondent No.1 herein claiming to be the owner and operator of Five Star Hotel and Technology Park had approached the writ Court by filing W.P.No.6775/2020 being aggrieved by the rejection of its request for grant of moratorium by lending institutions, namely respondent Nos.5 to 7 inter alia seeking for a direction amongst others to the appellant to enforce the Regulatory Covid 19 Package dated 27.03.2020 announced by the Reserve Bank of India (RBI) in letter and spirit, further seeking certain consequential reliefs.
3. The learned Single Judge, after hearing the learned counsel appearing for the parties accepting the appellant's contention that Covid 19 package gave the discretion to lending institutions insofar as to grant or not grant a moratorium, proceeded to issue directions to the appellant to monitor the implementation of Covid 19 package including verification of whether the
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