IN THE HIGH COURT OF PUNJAB AND HARYANA AT CHANDIGARH ****

Date of Decision: 20.03.2026 M/S NEXXEN SOLUTIONS PVT LTD. ...Petitioner Vs.

AXIS BANK LIMITED …Respondent CORAM:- HON'BLE MR. JUSTICE JAGMOHAN BANSAL Present:- Mr. Shashank Shekhar Sharma, Advocate with Mr. Varun Issar, Advocate for the petitioner ***

JAGMOHAN BANSAL, J. (ORAL)

1. The petitioner through instant petition under Articles 226/227 of the Constitution of India is seeking direction to respondent to forthwith update and effect the change of authorized signatory in its corporate bank account.

2. The petitioner is a private limited company registered under Companies Act, 2013. The respondent is a scheduled private Bank. As per petitioner, Kundan Kumar Shah and Sukhbir Singh Chauhan in 2023- 2024 detected multiple instances of unauthorized diversion of company funds by Samer Chakraborty who was exclusively maintaining company’s bank account. The petitioner in its board meeting dated 10.02.2024 resolved to delete Sameer Chakraborty and Bulbul Chakraborty as authorized signatories and authorized Kunal Kumar Jha as sole authorized signatory for Axis Bank Account. Shareholders unanimously resolved to remove Sameer Chakraborty