IN THE HIGH COURT AT CALCUTTA

Constitutional Writ Jurisdiction

Original Side

Present :- Hon’ble Justice Amrita Sinha

WPO 200 of 2024

Bhanu Properties Ltd. & Anr.

Vs.

Reserve Bank of India & Anr.

For the writ petitioners :- Mr. Deepan Sarkar, Adv.

Mr. Tanish Ghaneriwala, Adv.

Mr. Ramendu Agarwal, Adv.

Ms. R. Goyel, Adv.

For the respondent no. 1 :- Ms. Suchismita Ghosh Chatterjee, Adv.

Mr. Malay Kr. Seal, Adv.

For the respondent no. 2 :- Ms. Soni Ojha, Adv.

Hearing concluded on :- 02.07.2025 Judgment on :- 26.08.2025

Amrita Sinha, J.:-

1. The petitioners are aggrieved by the act of Axis Bank in continuing to

classify the petitioner no. 1 as fraud despite repayment of the due amount. According to the petitioner, a sum of Rs. 7,50,00,000/- was sanctioned as cash credit facility by the bank. The petitioners, prior to declaration of fraud, repaid a sum of Rs. 13,47,96,742/-. The bank claims Rs. 2,40,81,903.25/- over and above the amount paid by the

petitioners.

2. An agreement for One Time Settlement (OTS) was entered into by and

between the petitioners and the bank and in terms of the OTS, the

petitioner paid Rs. 2,30,00,000/- and the said amount has been accepted by the bank. Despite receiving the amount a