##PAGE1##

WP No. 19621 of 2023

IN THE HIGH COURT OF JUDICATURE AT MADRAS DATED: 24-03-2026

CORAM THE HONOURABLE MR JUSTICE KRISHNAN RAMASAMY

WP No. 19621 of 2023

N.Sathyanarayana, Plot No. 249, Kaliamman Koil Street,

Natesan Nagar II Main Road, Virugambakkam, Chenani - 600 092.

Petitioner(s)

Vs

1.The Reserve Bank Of India, Rep By Its Deputy General Manager,

Fort Glacis, 16, Rajaji Road, For St.

George, Chennai - 01.

2.The Indusind Bank Ltd, Its Authorized Signatory,

Regional Office, New No. 34/old No. 115/116, Gn Chetty Road,

Chennai - 017. Respondent(s)

PRAYER:-Writ Petition filed under Article 226 of the Constitution of India, praying for an issuance of Writ of Mandamus, to direct the 2^nd respondent to return/refund a sum of Rs.1,35,151.45 towards pre-closure charges, interest charge Rs.1,306.22, G.S.T. for pre -closure charge Rs. 24,327.76 and interest on delayed payment Rs. 447.25 for loan account number TBA00015N and for the loan account number TBO00049N the interest charges Rs.2,144.66, pre-closure

https://www.mhc.tn.gov.in/judis ( Uploaded on: 21/04/2026 07:09:35 pm )

##PAGE2##

WP No. 19621 of 2023

charges Rs.1,17,649.73, GST on pre-closure charge Rs.21,176.95 and interest on delayed payment Rs.289.97.

For Petitioner(s): M/s.G.Selvi George

For Respondent(s): No Appearance For R1

Mr.K.Moorthy For R2

ORDER

This writ petition has been filed seeking to direct the 2^nd respondent to

return/refund a sum of Rs.1,35,151.45 towards pre-closure charges, interest charge Rs.1,306.22, G.S.T. for pre -closure charge Rs. 24,327.76 and interest on delayed payment Rs. 447.25 for loan account number TBA00015N and for the loan account number TBO00049N the interest charges Rs.2,144.66, pre-closure charges Rs.1,17,649.73, GST on pre-closure charge Rs.21,176.95 and interest

on delayed payment Rs.289.97.

2.Learned counsel for the petitioner would submit that in the event of pre-

closure of loan, the 2^nd respondent is not supposed to levy any amount as pre- closure charge. However, against the terms and conditions of the loan, the 2^nd respondent has levied pre-closure charges for the petitioner’s loan amount along

with interest and G.S.T. Hence, the present writ petition has been filed.

https://www.mhc.tn.gov.in/judis ( Uploaded on: 21/04/2026 07:09:35 pm )

##PAGE3##

WP No. 19621 of 2023

3.Learned counsel appearing for the 2^nd respondent would submit that as

per the terms and conditions of the loan, the 2^nd respondent is entitled to levy

pre-closure charge when the loan is pre-closed.

4.Heard the learned counsel for the petitioner as well as the learned

counsel appearing for the 2^nd respondent.

5.Considering the submissions made by both parties, this Court directs

the petitioner to make a representation before the 2^nd respondent requesting them to refund the pre-closure charges levied from the petitioner’s loan account. In such case, the 2^nd respondent is directed to consider the representation of the petitioner and dispose of the same on merits and in accordance with law, within a period of four (4) weeks from the date of receipt of the said representation by

the petitioner.

6.With the aforesaid directions, this writ petition is disposed of. No costs.

24-03-2026

rst Index:Yes/No

Speaking/Non-speaking order Internet:Yes

https://www.mhc.tn.gov.in/judis ( Uploaded on: 21/04/2026 07:09:35 pm )

##PAGE4##

WP No. 19621 of 2023

Neutral Citation:Yes/No

To

1.The Reserve Bank Of India, Rep By Its Deputy General Manager,

Fort Glacis, 16, Rajaji Road, For St. George, Chennai - 01.

2.The Indusind Bank Ltd, Its Authorized Signatory,

Regional Office, New No. 34/old No.

115/116, Gn Chetty Road, Chennai - 017.

https://www.mhc.tn.gov.in/judis ( Uploaded on: 21/04/2026 07:09:35 pm )

##PAGE5##

WP No. 19621 of 2023

KRISHNAN RAMASAMY J.

rst

WP No. 19621 of 2023

24-03-2026

https://www.mhc.tn.gov.in/judis ( Uploaded on: 21/04/2026 07:09:35 pm )

Click Here to Read the rest of this document