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RAJENDRA MENON, V.KAMESWAR RAO
Lakshmi Energy & Food Ltd. – Appellant
Versus
Reserve Bank of India – Respondent


Counsel for the Parties:
For the Appellant:Mr. Kapil Sibal, Sr. Advocate and Mr. Vivek K. Tankha, Sr. Advocate with Mr. Amitabh Chaturvedi, Mr. Vivek Chib, Mr. Prashant Sivarajan, Mr. Himesh Thakur and Mr. Kaushal Sharma, Advocates
For the Respondent No.1:Mr. H.S. Parihar with Mr. K.S. Parihar, Advocates for RBI
For the Respondent No.2:Mr. Rajesh Kr. Gautam with Mr. Aakash Sehrawat, Advocates for PNB
For the Respondent No.3:Mr. Ramji Srinivasan, Sr. Advocate with Mr. Diwakar Maheshwari, Mr. Aditya Vikram Singh and Ms. Syloma Mohapatra, Advocates for ICICI Bank
For the Respondent No.4:Mr. Sumit Nagpal, Advocate for Axis Bank
For the Respondent No.5:Mr. Rama Subba Raju, Advocate for Syndicate Bank

JUDGMENT

V. Kameswar Rao, J.—Present appeal has been filed challenging the judgment dated 24th September, 2018 passed by the learned Single Judge dismissing the petition being W.P.(C) 5555/2018 filed by the appellant herein (Lakshmi Energy).

2. The case of the appellant in the writ petition was primarily for appropriate writ / order / direction directing the Reserve Bank of India to ensure compliance / implementation of its Guidelines / Circulars dated 30th January, 2014, 26th February, 2014 and 5th May, 2017, vis-à-vis the Joint Lenders Restructuring Agreement (JLRA) dated 27th June, 2015.

Facts

3. The facts as averred in the appeal are that the appellant Lakshmi Energy, a Company incorporated under Companies Act, 1956 is involved in the business of processing paddy and exporting rice. In the year 2010, it had availed of certain financial assistance from a Consortium of Banks comprising of respondent nos. 2 to 5 herein with respondent no.2 (Punjab National Bank, hereinafter referred to as PNB) being the lead banker. Sometime in 2014 on account of non-conducive market conditions in th













































































































































































































































































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