MEERAN MINERALS Vs. CENTRAL BANK OF INDIA

JUDGEMENT

(1.) Heard Sri T.V.L. Narasimha Rao, learned counsel representing the writ petitioners, Sri Ch.Siva Reddy, learned counsel representing the 1st respondent and Sri M.P.Ugle, learned counsel representing the 2nd respondent.

(2.) The Writ Petition is filed for a Writ of Mandamus declaring the impugned letter dated 3.3.2006 issued by the 1st respondent bank to the petitioners as violation of Mandatory Guidelines under OTS 2005 of the 2nd respondent illegal, discriminatory, indiscrete and contrary to Sections 21 and 35 A of the Banking Regulation Act, 1949 and also violation of fundamental rights guaranteed under Articles 14 and 21 of the Constitution of India and consequently directing the 1st respondent bank to receive amount under OTS 2005 Scheme from the petitioners for full and final settlement of their dues and pass such other suitable orders.

(3.) Sri T.V.L.Narasimha Rao, learned counsel representing the writ petitioners had taken this Court through the contents of the affidavit filed in support of the Writ Petition and the respective stands taken in the counter affidavits filed by respondents 1 and 2 as well and would maintain that the stand taken by the opposite parties that these are the only guidelines relating to One Time Settlement Scheme and hence they cannot be enforced in a Court of law, cannot be sustained. The learned counsel also would maintain that in the light of the language employed in the said Scheme and the guidelines, they are perfectly enforceable and hence suitable directions are to be given.