JUDGMENT

Purushaindra Kumar Kaurav, J. (Oral)

CM APPL. 15420/2023(for exemption)

1. Allowed, subject to all just exceptions.

2. The application is disposed of.

W.P.(C) 3953/2023 and CM APPL. 15419/2023

3. Learned counsel appearing on behalf of the petitioner has prayed for the following reliefs:

"(i) direct respondent no. 1 in exercise its power U/s 45 (JA) of the Reserve Bank of India Act, 1934 to require respondent no. 2 to adhere to NPA norms applicable to MSME loan account, before deciding non-performing assets (NPA) in face of its Covid-19 pandemic directives and regulatory package directed to be drawn in accordance with Hon'ble Apex Court judgment circulated vide its circular dated 07.04.2021 (Annexure-G)

(ii) Set-aside/quash respondent no.2's order dated 16.06.2021 (Annexure-I) being non-speaking non- reasoned and in violation, disregard to respondent no.1's directives applicable to MSMEs sector;

(iii) direct respondent no. 2 to draw One Time Settlement in respect to petitioner loan account by enabling petitioner to deposit the same considering petitioner's property valued to be substantially & significantly much more than amount recoverable by respondent no.2 and payable by pe