Y. SLEEBACHAN Vs. STATE OF KERALA

JUDGEMENT

(1.) The petitioner, who was an engineering contractor, has approached this Court seeking the following reliefs :-

(2.) Heard the learned counsel for the petitioner and the learned Standing Counsel appearing for the 2nd respondent Bank.

(3.) It is contended by the learned counsel for the petitioner that the partnership firm of which the petitioner is a partner had an account with the 2nd respondent Bank, which has been wrongly classified as Non-Performing Asset (NPA). It is stated that substantial amounts had been paid to the 2 nd respondent to clear the liabilities of the firm as early as in January, 2020 and that the non-issuance of solvency certificate is resulting in the petitioner being unable to renew his licence as a Government contractor. It is stated that solvency certificates are issued even where accounts are classified as NPA and that in the present case, the classification is against the master circular issued by the Reserve Bank of India.