Krishnaping Minerals Pvt Ltd v. Board of Directors

IN,THE,HIGH,COURT,OF,JUDICATURE,AT,MADRAS DATED:,27.07.2026 CORAM THE,HON'BLE,MR.SUSHRUT,ARVIND,DHARMADHIKARI, CHIEF,JUSTICE AND THE,HON'BLE,MR.JUSTICE,G.ARUL,MURUGAN WP,No.2476,of,2024

1.,KRISHNAPING,MINERALS,PVT,LTD, 402,,PINNACLE,CORPORATE,PARK,, NEAR,TRADE,CENTRE,,OPP.MTNL,ANDRA, KURLA,COMPLEX,,BANDRA,EAST,,MUMBAI-051.,

2.,SANJEEV,RAMESH,KHANDELWAL DIRECTOR,,KRISHNAPING,MINERALS,PVT.,LTD,, FLAT,NO.1101,,11TH,FLOOR,,ROSHNI,CHS,LTD.,, PLOT,NO.380,,15TH,ROAD,,TPS-III,, BANDRA,WEST,,MUMBAI-050. : Petitioners Versus

1.,BOARD,OF,DIRECTORS, KARUR,VYSYA,BANK,LTD.,, REP,BY,ITS,MANAGING,DIRECTOR,&,CEO, REGISTERED,OFFICE,AT,NO.20,, ERODE,ROAD,,VADIVEL,NAGAR,, L.N.S.,KARUR,,TAMIL,NADU-639,002.

2.,CHAIRPERSON,, COMMITTEES,FOR,STRESSED,MICRO,,SMALL,&,MEDIUM,ENTERPRISES

(COSM),,KARUR,VYSYA,BANK,LTD.,,FIRST,FLOOR,, GAYATHRI,TOWERS,,954,,APPA,SAHEB,MARATHE,MARG,, PRABHADEVI,,MUMBAI,,MAHARASHTRA-,025.

3.,THE,AUTHORIZED,OFFICER,, KARUR,VYSYA,BANK,LTD. FIRST,FLOOR,,GAYATHRI,TOWERS,, 954,,APPA,SAHEB,MARATHE,MARG,, Pageo1oofo6 PRABHADEVI, MUMBAI, MAHARASHTRA-025.

¶4MINISTRY OF MICRO SMALL & MEDIUM ENTERPRISES, REP BY SECRETARY, UDYOG BHAWAN, RAFI MARG, NEW DELHI, DELHI-001.

¶5UNION OF INDIA REP BY THE SECRETARY, DEPARTMENT OF FINANCIAL SERVICES, MINISTRY OF FINANCE, 3RD FLOOR, JEEVAN DEEP BUILDING, SANSAD MARG, NEW DELHI-001.

¶6RESERVE BANK OF INDIA REP BY THE EXECUTIVE DIRECTOR SHAHID BHAGAT SINGH ROAD, FORT MUMBAI-001.

¶7STATE OF TAMIL NADU REP BY ITS SECRETARY DEPARTMENT OF MICRO, SMALL & MEDIUM ENTERPRISES FORT ST.GEORGE, CHENNAI-09. : Respondents Prayer: Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Declaration to declare that the petitioner is an MSME within the meaning of the MSMED Act of 2006 and notification dated

29.05.2015 issued by the Central Government under Section 9 thereof, as also th circulars and guidelines issued by the Reserve Bank of India under Section 10 thereof, which provides for a mechanism of resolution of stress and that no proceedings for recovery under the SARFAESI act, RDB act or the IBC will lie, in as much as the MSMED Act being a Special law qua he aforesaid Acts, and a later law in relation to the RDB Act and the SARFAESI Act, its Provisions will prevail over the aforesaid enanctments. (b). To declare that the MSME Act in so far as it has not created a special forum / tribunals to enforce the inter -se rights and obligations / remedies, which it has created in addition to those rights / obligations / remedies recognized by the common law the jurisdiction of the Civil Court is not ousted, for it is impossible to out the jurisdiction of the Civil Court without providing for an alternative Forum / tribunal to adjudicate the inter se disputes between parties who are governed by the act. (c). to call for the entire proceedings at the hands of the Respondent no.3, Authorised officer of the karur Vysya Bank under Section 13 (2) of the SARFAESI and to issue a Writ in the nature of certiorari or any other appropriate writ or order or direction Calling for the entire records and proceedings at the hands of the Authorised officer, and to quash and set aside the same as being without jurisdiction, in violation of fundamental principles of judicial procedure and most importantly, being in violation of Articles 14, 19 and 21 of the Constitution. (d). Directing Respondent no.1, Board of Directors of the karur Vysya Bank to Constitute a Committee for the resolution of the Stress of the Unit of the instant Petitioner, an MSME as Contemplated in Paragraph 2 of the notification dated

29.5.2015 issued under the MSMED Act, and further to direct the committee to resolve the Stress in accordance with the said notification and such other relevant notifications / regulations framed by the RBI. (e) Prohibition restraining and prohibiting the Respondent Bank from imitating or Continuing any measure for recovery under any other law and in particular, the SARFAESI Act, the Recovery of Debts and Bankruptcy Act. For Petitioner : No appearance For Respondents

: Mr.P.Raghunathan, for M/s.T.S.Gopalan for respondents 1 and 3 Mr.R.Sanjay, CGSC for respondents 4 and 5 Mr.R.Veeramani, Government Advocate, for respondent No.7 No appearance for respondents 2 and 6 ORDER (Order of the Court was made by the Hon'ble Chief Justice) When the petition was taken up for consideration in the forenoon session, there was no representation for the petitioner. Hence, it was taken up in the afternoon session. Even in the second round, there is no representation for the petitioner.

¶2Hence, the petition stands dismissed for want of prosecution. There will be no order as to costs. Consequently, WMP No.2706 of 2024 is closed.

¶3WMP No.2705 of 2024 filed to permit the petitioners to file a single writ petition is allowed subject to payment of separate court fees within a period of two weeks from today. (SUSHRUT ARVIND DHARMADHIKARI, CJ.) (G.ARUL MURUGAN, J.)

27.07.2026 Index : Yes/No : Yes/No tar To

1.MANAGING,DIRECTOR,&,CEO, BOARD,OF,DIRECTORS, KARUR,VYSYA,BANK,LTD.,, REGISTERED,OFFICE,AT,NO.20,, ERODE,ROAD,,VADIVEL,NAGAR,, L.N.S.,KARUR,,TAMIL,NADU-639,002.

2.,THE,CHAIRPERSON,, COMMITTEES,FOR,STRESSED,MICRO,,SMALL,&,MEDIUM,ENTERPRISES

(COSM),,KARUR,VYSYA,BANK,LTD.,,FIRST,FLOOR,, GAYATHRI,TOWERS,,954,,APPA,SAHEB,MARATHE,MARG,, PRABHADEVI,,MUMBAI,,MAHARASHTRA-,025.

3.,THE,AUTHORIZED,OFFICER,, KARUR,VYSYA,BANK,LTD. FIRST,FLOOR,,GAYATHRI,TOWERS,, 954,,APPA,SAHEB,MARATHE,MARG,, PRABHADEVI,,MUMBAI,,MAHARASHTRA-025.

4.THE,SECRETARY MINISTRY,OF,MICRO,SMALL,&,MEDIUM,ENTERPRISES,, UDYOG,BHAWAN,,RAFI,MARG,,NEW,DELHI,,DELHI-001.

5.,THE,SECRETARY,, DEPARTMENT,OF,FINANCIAL,SERVICES,, MINISTRY,OF,FINANCE,,3RD,FLOOR,, JEEVAN,DEEP,BUILDING,,SANSAD,MARG,, NEW,DELHI-,001.

6.THE,EXECUTIVE,DIRECTOR, RESERVE,BANK,OF,INDIA SHAHID,BHAGAT,SINGH,ROAD,,FORT,MUMBAI-001.

7.,THE,SECRETARY, DEPARTMENT,OF,MICRO,,SMALL,&,MEDIUM,ENTERPRISES, FORT,ST.GEORGE,,CHENNAI-09. Pageo5oofo6 THE HON'BLE CHIEF JUSTICE AND G.ARUL MURUGAN

, J.

(tar)

27.07.2026