IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 19-11-2025 CORAM THE HONOURABLE MR JUSTICE M.DHANDAPANI WMP No. 13468, 13470, 13473, 13475 & 49474 of 2025

1. M/s.AKS Cold Storage Limited Represented by its Managing Director Aks Saravanan SF No. 43 1G/2 Aroor Junction, Arror Post, Alapuzha Distirct, Kerala 688 534.

2.AKS Saravanan IAI, Saravanan Ilam Mahadevapuram, Mettupalayam, Coimbatore 641 305.

Petitioner(s)

Vs

1. Indian Bank Represented By its Chief Manager, 143 Otty Main Raod, Metupalayam Tamilnaldu 641 301.

2.Reserve Bank Of India Represented By its Regional Director, Bakery Junction Road, Nandavanam, Palaym, Tiruvananthapuram, Kerala 695 033.

3.State Level Bankers Committee Kerala, Canara Bank, Represented By its Convenor and General Manager, SLBC Cell, Circle Office, Canara Bank Building P B No.159 MG Road, Tiruvananthapuram - 695001, Kerala.

4.Canara Bank Represented By Chief Manager, Stressed Management Branch Formerly Syndicate Bank)

15/38 SIC Building, 1st Floor, Anna Salai, Chennai 600 002.

Respondent(s)

Prayer: This writ petition has been filed under Article 226 of Constitution of India, to issue a writ of declaration, declare that the first respondent has acted in violation of RBI circulars and has without the consent by the petitioners for the consortium credit facilities availed from the first and 4^th respondents and has not granted the restructuring of the loan account in accordance with RBI circulars and issue a Writ of mandamus or such other appropriate writ or order directing the first respondent to grant the restructuring of the credit facility in accordance with RBI circulars or direction to the 4^th respondent to direct the first respondent to grant suitable restructuring of the credit facility so as to enable revival of the petitioners business in accordance with RI Circulars. B. Direct the first respondent to release the property of the first petitioner in Ooty which was exclusively offered as security for the Term Loan of Rs.15 Crores forthwith or direct the second respondent to issue orders commanding the first respondent to release the property of the first petitioner's property in Ooty exclusively offered as security for the term loan of Rs.15 Crores forthwith and to exclude the penal interest charged in the account till the date of restructuring from time of renewal of the account by the first respondent charged since June 2018.

C. Issue a Writ of Certiorari or such other appropriate writ or order quashing Circular No.Kerala SLBC/NC/1/MA/2019 issued by the 3^rd respondent.

D. Direct the second respondent to hear the petitioners into the grievances relating to the wrongful action of extension of security by the first respondent to the consortium security without the consent of the 4^th respondent and to pass orders directing restoration of the credit rating of petitioner with CIBIL and CRILC including passing of such orders for redressal of the consequential damage and loss of business, credit worthiness and reputation suffered by the petitioners due to the declaration of the petitioners account being classified as NPA by the 4^th respondent and to further direct the second respondent to complete the said procedure within a period /time limit prescribed by this Court.

For Petitioner(s): G.Krishna Kumar For Respondent: Mr.Jayesh B.Dolia Sr. Counsel for M/s.Ayyar & Dolia R1 Mr.C.Mohan Assisted by Ms.A.Rexy Josephine Mary for M/s.King & Partridge R2 Mr.R.Sreedhar RR3 & 4 ORDER This writ petition has been filed seeking a Writ of Declaration, declaring that the first respondent has acted in violation of RBI circulars, and has without the consent of the fourth respondent, wrongly extended the consortium security created by the petitioners for the consortium credit facilities availed from respondents 1 and 4 and has not granted the restructuring of the loan account in accordance with RBI circulars and consequently issue a Writ of Mandamus directing the 1^st respondent to grant the restructuring of the credit facility in