JUDGMENT

The question of law raised in all these Writ Petitions appears to be squarely covered against the petitioners by the judgment of the Division Bench of this Court in P.K.Krishnakumar v. IndusInd Bank ; 2024 SCC Online Ker 6888 where the Division Bench has categorically taken the view that if the loan account of the borrower which is classified as MSME is permitted to attain Non-performing Asset (NPA) status, the borrowers cannot thereafter be permitted to turn around and claim the benefits of the notification issued by the Ministry of Micro, Small and Medium Enterprises under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act 2006) and the corresponding circular issued by the Reserve Bank of India.

2. Paragraphs 14 to 19 of the judgment of the Division Bench in P.K.Krishnakumar v. IndusInd Bank (supra) reads thus:

“14. The Hon’ble Supreme Court in the case of M/s. Pro Knits had examined the scheme of MSMED Act in conjunction with the SARFAESI Act and had accepted the contention of the MSMEs that they could have a special status as regards recovery