MONO CAPS INDIA Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The petitioner by this writ petition seeks a mandamus to be issued to respondents to accept the proposal of the petitioner under the "One Time Settlement Scheme." This is sought to be done on the basis of guidelines issued by respondent no.3-Reserve Bank of India and respondent no.2-State Bank of India on 27.7.2000 and 20.3.2001. Petitioner is also seeking quashing of the letter dated 16.6.2000 and 26.6.2001 issued by respondent no.1 by which petitioner's proposal for accepting one time settlement was not acceded to. Learned counsel for the petitioner submits that petitioner is entitled to relief in terms of circular of Reserve Bank of India itself dated 12th February, 2003.

(2.) The facts in brief relevant for disposal of this writ petition are:-

(3.) Learned counsel next contended that State Bank of India was guilty of not following its own circulars and in particular he refers to the guidelines dated 12.2.2003. Following is given under clause 1.6.5. It reads as under:-