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2019 DIGILAW 1124 (GAU)

Nisita Enterprise Pvt. Ltd. v. State Bank of India and Others EP by It’s Managing Director

2019-10-03

ARUP KUMAR GOSWAMI, SANJAY KUMAR MEDHI

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JUDGMENT : Arup Kumar Goswami, J. Heard, Mr. I. Choudhury, learned senior counsel for the petitioners. Also heard Mr. K.K. Dey, learned counsel for all the respondents. 2. The loan taken by the petitioners from the respondent Bank was declared NPA. The petitioner firm is a registered micro enterprise. A notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short 'the Act'), was issued, lastly, on 31.5.2019. 3. In response to the said notice, representations were filed. Placing reliance on the document dated 1.1.2019 (Annexure-H) issued by the Reserve Bank of India providing for one-time restructuring of existing loan, Mr. Choudhury submits that the asset classified as NPA can also be restructured. In this connection, he has also drawn our attention to the representation dated 24.09.2019 (Annexure-O) submitted by the petitioners to the respondent Bank and prays for a direction for disposal of the said representation. 4. Mr. Dey submits that no measure has been undertaken under Section 13(4) of the Act and, as such, the writ petition is not maintainable and even if notice under Section 13(4) of the Act is issued, this Court may not invoke its writ jurisdiction as there is adequate alternative remedy available. He has also pointed out that in the representation dated 24.09.2019, there is no reference to notification dated 1.1.2019 of the Reserve Bank of India. He, however, submits that he will have no objection if a direction is issued to dispose of the said representation. 5. From a perusal of the representation dated 24.9.2019, we find that in the said representation, there is no reference to the notification of the Reserve Bank of India dated 1.1.2019. However, since Mr. Dey has not objected to the disposal of the said representation, we dispose of this petition providing that the petitioners may file a fresh representation incorporating the contentions advanced before this Court with regard to the notification dated 1.1.2019 of the Reserve Bank of India and, if any such representation is filed, the same shall be disposed of in accordance with law. The writ petition, accordingly, stands disposed of.