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Allahabad High Court · body

2025 DAILYLAW 176215 (ALL)

NAGAR VIKAS SAHKARI BANK LTD. THRU. AUTHORISED OFFICER/MANAGER v. RESERVE BANK OF INDIA, THRU. CHIEF GENERAL MANAGER AND 8 OTHERS

/11175/2025 · 2025-11-26

body2025

Judgment text

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HIGH COURT OF JUDICATURE AT ALLAHABAD LUCKNOW WRIT - C No. - 11175 of 2025 Court No. - 3 HON'BLE SHEKHAR B. SARAF, J. HON'BLE BRIJ RAJ SINGH, J. 1. Heard learned counsel appearing on behalf of the petitioner as well as learned counsel appearing on behalf of the respondent No.6 being the YES Bank. 2. Learned counsel appearing on behalf of the petitioner, after making submissions, has prayed before this Court to allow him to withdraw this writ petition with liberty to file an application for settlement of dispute under Section 24 of the Payment and Settlement Systems Act, 2007 before the respondent No.8 being the National Payment Corporation of India. 3. In light of the above submission made, the writ petition is disposed of with liberty granted to the petitioner to file an application for settlement of dispute under Section 24 of the Payment and Settlement Systems Act, 2007 before the respondent No.8 being the National Payment Corporation of India. 4. In the event, the said application is filed within a period of two weeks from date, the respondent No.8 being the National Payment Corporation of India is directed to grant an opportunity of hearing to the petitioner and all other relevant parties, and thereafter, pass a reasoned order in accordance with law within a period of eight weeks Versus Counsel for Petitioner(s) : Sumeet Tahilramani, S M Singh Royekwar Counsel for Respondent(s) : Manu Dixit Nagar Vikas Sahkari Bank Ltd. Thru. Authorised Officer/Manager .....Petitioner(s) Reserve Bank Of India, Thru. Chief General Manager And 8 Others .....Respondent(s) from the date of filing of the said application. November 26, 2025 cks/- WRIC No. 11175 of 2025 2 (Brij Raj Singh,J.) (Shekhar B. Saraf,J.) Digitally signed by :- CHANDRA KANT SINGH High Court of Judicature at Allahabad, Lucknow Bench