9911796707
TMI Blog2018 (5) TMI 2110X X X X Extracts X X X X X X X X Extracts X X X X ..... o. 1. The main prayer in the writ petition is for an injunction restraining the respondent authorities from giving any effect to a letter dated 19.11.2014 by which the respondent No. 1 has alleged breach on the part of the petitioners of the terms of the loan covenants entered with the State Bank of India and has threatened to publish photographs, names and addresses of the petitioners in leading newspapers. 2. From the statements made in the writ petition it appears that the Company obtained credit facilities for its business from SBI/respondent No. 1 and the financial assistance granted to the company was enhanced from time to time; the last revision being made in 2012. From the writ petition, it is evident that no statements have been m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... asures can be taken against his clients. He further submits that an application has been taken out by the petitioners, which is presently pending before the Debts Recovery Tribunal and a suit has also been filed against the respondent No. 1 in this Court. He relies upon a Division Bench Judgement of this Court delivered on 5th May, 2016 reported in AIR 2016 Cal 281 which considered Rule 8 of the SARFAESI Rules as to whether there is any requirement for issuing notice to the general public in relation to a defaulting borrower and whether the aforesaid would entail publication of photographs of the concerned borrowers. 4. In the said judgment, the Division Bench considered several decisions passed by the Hon'ble Madras High Court in the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the petitioner and relies upon a Division Bench Judgment of the Hon'ble Madras High Court reported in 2016 SCC On Line Madras 32928 which had considered a similar case and had held that there is no violation of any right or legal provision in publishing photographs of borrowers and the surety for non repayment of the loan. Earlier judgements of the Hon'ble Madras High Court namely K.J. Doraiswamy v. The Assistant General Manager State Bank of India, were considered in the said judgment and a strong case made out in favour of the lender bank for resorting to appropriate measures to caution the public at large against the defaulting borrowers. 7. Counsel also relies on a Division Bench Judgment of the Hon'ble Bombay High Court D. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... teps have been taken by the Company thereafter to honour its financial obligations to the respondent bank. The company has instead filed a suit and an application before the Debts Recovery Tribunal in an attempt to push back their obligations to the bank. 10. In the present Writ Petition this Court has been invited to only consider the case made out by the petitioners for the relief claimed namely, for a writ of mandamus and prohibition restraining the respondent/bank from acting in terms of the impugned communication dated 19th November, 2014. In considering whether such relief can be granted, the fact that the Company has not yet been declared a wilful defaulter under the RBI Master Circular is relevant. It is also relevant that proceedi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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