JUDGMENT

Prateek Jalan, J. - The proceedings in the matter have been conducted through video conferencing.

1. The principal claim of the petitioner in the present writ petition is for restructuring of the loans of the petitioner no. 1 by the respondent Nos. 1 and 2- Indian Bank ["Bank"] in terms of a Circular issued by the Reserve Bank of India ["RBI"] dated 11.02.2020.

2. The credit facilities were originally taken by the petitioner No.1 in the year 2017. The petitioner No.1 is in the category of Micro, Small and Medium Enterprise ["MSME"] industry and is, therefore, covered by two circulars issued by the RBI dated 01.01.2019 and 11.02.2020.

3. The petitioner No.1 applied for restructuring of the account by a communication dated 16.02.2020. Correspondence thereafter took place between the Bank and the petitioner no. 1 which, according to the petitioners, was in furtherance of the proposals for restructuring. Ultimately, by a communication dated 19.02.2021, the Bank informed the petitioner that its account had turned into a Non Performing Asset ["NPA"] on 28.01.2020, and could not be restructured. It was recorded therein as per the RBI guidelines for MSME accounts, restructuring was p