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IN THE HIGH COURT OF KERALA AT ERNAKULAM
Mr. Basant Balaji, J
M/S. EVEREST AGRO SPICES – Appellant
Versus
THE BOARD OF DIRECTORS OF AXIS BANK LTD. – Respondent
| Table of Content |
|---|
| 1. petitioners claim msme benefits. (Para 1 , 3) |
| 2. legal precedents on msme protections. (Para 2 , 6) |
| 3. interim measures pending compliance. (Para 4 , 5) |
| 4. requirements for msme relief. (Para 8 , 9 , 10) |
| 5. court's stance on statutory remedies. (Para 11 , 12 , 13) |
JUDGMENT
(Dated this the 27th day of February 2026)
The averments in the Writ Petition are as follows: - The 2nd petitioner is the sole proprietor of the 1st petitioner, which is engaged in the trading of agricultural products having UDYAM registration certificate issued by the Ministry of Micro, Small & Medium Enterprises (MSME), Government of India. Ext.P1 is the certificate dated 31.10.2020. According to the petitioners, the 1st petitioner, being an MSME, is entitled to the protection of the notification dated 29.5.2015, which mandates that banks and financial institutions shall identify incipient stress in the account of MSMEs and to make effort towards resolution of stress by classifying as SMA - 0 before there is default in the account.
2. In M/s.Pro Knits v. Board of Directors of Canara Bank [2024 (4) KLT 761 (SC)], the honourable Apex Court has held that the notification dated 29.5.2015 has a statutory
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