IN THE HIGH COURT AT CALCUTTA (CONSTITUTIONAL WRIT JURISDICTION)

APPELLATE SIDE Present :

The Hon’ble Justice Partha Sarathi Chatterjee WPA 9820 of 2021 With CAN 1 of 2025 Riddhi Siddhi Cold Storage (P) Ltd. & Ors.

Vs.

The Punjab National Bank & Ors.

For the petitioners : Mr. Debabrata Saha Ray, Ld. Sr. Adv, Mr. Subhankar Nag, Mr. Dwipan Dasgupta, Mr. Pingal Bhattacharya, Ms. Surabita Biswas.

For the PNB : Mr. Samrat Sen, Ld. Sr. Adv., Mr. Abhishek Banerjee, Ms. Parna Roy Choudhury.

Heard on : 18.07.2025 Judgment on : 05.08.2025 Partha Sarathi Chatterjee, J.:-

Prelude:

1. Four Cold Storage Companies—viz., (i) Riddhi Siddhi Cold Storage (P) Ltd.; (ii) Siddhanth Vedant Cold Storage (P) Ltd.; (iii) Siddhi Vinayak Himghar (P) Ltd.; and (iv) Rajaram Sevak Multipurpose Cold Storage (P)

Ltd. (hereinafter collectively referred to as "the companies")—along with their common directors, have invoked the extraordinary jurisdiction of this Hon’ble Court to challenge the classification of their loan accounts as Non-Performing Assets (for short, NPAs) by the respondent bank, allegedly in contravention of the directives and regulatory norms issued by the Reserve Bank of India (for short, RBI) concerning th