R K TIMBER Vs. ICICI BANK LTD

JUDGEMENT

(1.) Heard on I. A. No. 2032/2011, an application for dismissal of the writ petition.

(2.) Facts leading to filing of the writ petition, briefly stated, are that the respondent-Bank had sanctioned an over draft facility of Rs. 1,94,90,000/- vide letter dated 21-9-2005. The respondent-Bank thereafter obtained an application for renewal of sanction on 2-2-2007 and required the petitioners to execute various documents including 12 crossed blank post dated cheques of United Bank of India towards payment of interest and 4 undated blank cheques of the same Bank. It is a case of the petitioners that instead of renewing the sanction, the Bank sent a notice through its lawyer on 11-8-2007 and threatened the petitioners that he may be prosecuted for an offence under section 420 of the Indian Penal Code as well as action under the provisions of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the '2002 Act') may be taken against them. It is averred in the writ petition that Bank forged a blank undated cheque to show that it was issued on 1-1-2008 for a sum of Rs. 2,26,05,018/- and presented the same for encashment. However, when the cheque was dishonoured a notice under section 138 of the Negotiable Instruments Act dated 28-1-2008 was issued to the petitioners. The respondents also issued a notice under section 13(2) of the 2002 Act. In the aforesaid background the petitioners have prayed for the following reliefs:-

(3.) Shri Anshuman Singh, learned Counsel for the respondents submitted that respondent No. 1 is a Private Company carrying on banking business as Scheduled Bank and, therefore, cannot be termed as an institution or a company carrying on any statutory or public duty and, therefore, such a company is not amenable to writ jurisdiction. In support of his submission learned Counsel has placed reliance on the decisions of Supreme Court in the cases of Federal Bank Ltd. vs. Sager Thomas and others, 2003 10 SCC 733, Binny Ltd. and another vs. V. Sadasivan and others, 2005 6 SCC 657 and Bhadra Shahakari S. K. Niyamita vs. Chitradurga Mazdoor Sangh and others, 2006 8 SCC 552. "Learned Counsel for the respondents has further placed reliance on the order dated 12-7-2010 passed in W.P. No. 3144/2010 (S), M/s Ramdev Ginning Factory vs. The Chief Manager, ICICI Bank Ltd., as well as order dated 16-2-2010 passed in W. P. No. 10645/2006, G. P. Tiwari vs. ICICI Bank Limited and others.