REVATI CEMENTS PVT LTD Vs. ALLAHABAD BANK

JUDGEMENT

(1.) This writ petition has been filed by the petitioner seeking a direction to restrain the respondent Bank from making any publication with or without photographs in newspaper.

(2.) In brief, the case of the petitioner is that the petitioner was sanctioned a loan of Rs.100 Crores by the respondent Bank and after making regular payment of interest for some time, the petitioner had requested for reschedulement/restructuring the loan and deferment of payment but without considering the difficulties faced by the petitioner, the respondent Bank had sent the notice dated 13.12.2013 threatening to publish the borrower's/guarantor's name with photographs in the local newspaper and also to put up a flexi board at the unit cautioning the public not to deal with the petitioner.

(3.) A reply has been filed by the respondent stating that the loan agreement was executed by the petitioner and the account of the petitioner was declared as NPA and in terms of Clause 24 of the Term Loan Agreement, the respondent is entitled to publish the names of the petitioner as defaulter.