T.S.SIVAGNANAM, V.BHAVANI SUBBAROYAN
Regional Director – Appellant
Versus
Nahar Finance & Leasing Limited, Rep. , by its Managing Director, Navratnmull Nahar – Respondent
T.S. Sivagnanam, J.
1. These appeals are filed by the Reserve Bank of India challenging the common order passed in the Writ Petitions in W.P.Nos.18225 of 2018 and etc., batch, dated 29.01.2019 filed by the respondents herein.
2. The prayers in the writ petitions were for issuance of Writs of Certiorari to quash the orders passed by the Regional Director, Reserve Bank of India, Department of Non-Banking Supervision, dated 08.06.2018, 26.07.2018, 25.05.2018 and 04.06.2018 respectively as being contrary to the provisions of the Reserve Bank of India Act, 1934 (hereinafter referred to as “the RBI Act”) and against the principles of natural justice. The writ petitions were allowed by the impugned common order dated 29.01.2019 with a direction to the appellants/respondents to restore the Certificate of Registration (in short, “CoR”) of the respondents and also extend time to the respondents/writ petitioners to comply with the requirements under Section 45-IA of the RBI Act till 31.03.2019.
3. Mr. G. Masilamani, learned Senior Counsel, assisted by Mr. Chevanan Mohan along with Mr. V. Ponappa Bharathi, submitted that as against the order impugned in the writ petitions, there is an a
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