RGV Infratech Pvt. Ltd. vs Indian Bank Erstwhile Allahabad Bank

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

DELHI HIGH COURT
PRATEEK JALAN
RGV Infratech Pvt. Ltd. – Appellant
Versus
Indian Bank Erstwhile Allahabad Bank – Respondent

Table of Content
1. petitioner claims restructuring under rbi circulars. (Para 1 , 2 , 3)
2. reliefs sought by the petitioners detailed. (Para 4 , 5)
3. arguments regarding eligibility based on rbi circulars. (Para 8 , 10)
4. court's analysis of restructuring eligibility. (Para 12 , 13 , 14)
5. court finds no merit in petitioners' claims. (Para 15 , 16)
6. writ petition dismissed with observations. (Para 17 , 18)

JUDGMENT

Prateek Jalan, J. (Oral)

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 to

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DELHI HIGH COURTPRATEEK JALANRGV Infratech Pvt. Ltd. – AppellantVersusIndian Bank Erstwhile Allahabad Bank – Respondent

DELHI HIGH COURT
PRATEEK JALAN
RGV Infratech Pvt. Ltd. – Appellant
Versus
Indian Bank Erstwhile Allahabad Bank – Respondent