OMNARAYANSRI AGRIFARMER PVT. LTD. Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Heard Shri Arun Mishra, learned counsel for the appellant, Shri Jainendra Kumar Mishra, learned counsel for respondents No. 1 and 2 and perused the record.

(2.) The present appeal under Sec. 13 (1-A) of Commercial Courts Act, 2015 (in short 'the Act, 2015') has been filed challenging an order dtd. 4/3/2025 whereby the Commercial Court, Allahabad has rejected an application filed by the appellant under Order XXXIX Rules 1 and 2 read with Sec. 151, Code of Civil Procedure (in short C.P.C.) in the Commercial Suit No. 1 of 2025 as well as the plaint thereof under Order VII Rule 11(d) C.P.C.

(3.) The plaintiff obtained a cash credit limit and term loan facility from the respondent-Bank for running its business and executed certain documents in relation thereto. After exchange of certain communications between the appellant and the Bank, the bank account of the appellant was declared as Non-Performing Assets (N.P.A.) on 29/30/7/2024. The appellant filed the Commercial Suit No. 1 of 2025 in question with a prayer to declare notice dtd. 30/7/2024 classifying the appellant's account as N.P.A., as void for want of requirements prescribed by the Reserve Bank of India and without rescheduling the term loan account. Another prayer made in the plaint was to direct the defendants to pay damages to the tune of Rs.10,00,000.00 (rupees ten lac) towards mental agony and loss of business to the plaintiff.