Judgment

Mr. Vinod S. Bhardwaj, J.

This order shall dispose of two writ petitions bearing No.CWP19717-2018 and CWP-19726-2018 as counsel for the parties agree that the questions of law that arise for determination in these two petitions are identical. Facts are however extracted from CWP-19726-2018 titled as APL Industries Vs. Banking Ombudsman, Reserve Bank of India and others.

2. Challenge in the said petition is to the impugned order dated 19.09.2017 (Annexure P-1) passed by respondent No.1-Banking Ombudsman with a further prayer that the respondent Bank be directed to pay the interest accrued on the FDR lying with them since February 1996 to the petitioner herein without any further delay.

3. Briefly summarized, the facts of the present case are that the petitioner company had floated upon a Public Issue in the year 1996 and had appointed M/s Fintech Compu Systems Pvt. Ltd., New Delhi as Registrar to the Issue and the Punjab National Bank, Branch Office, Sansad Marg, New Delhi was appointed as the post issue lead Manager to issue prospectus and receive applications for its IPO. The said Registrar and the Banker as the post issue lead Manager were responsible for the complaints, p