- 1 - NC: 2025:KHC:837 WP No. 12026 of 2021 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 9TH DAY OF JANUARY, 2025 BEFORE THE HON'BLE MS. JUSTICE JYOTI MULIMANI WRIT PETITION NO. 12026 OF 2021 (GM-RES) BETWEEN: 1. PANKAJ.L.KOTHARI S/O LATE LAXMIDAS KOTHARI, AGED 70 YEARS, RESIDING AT NO.11, PALACE ORCHARD APARTMENTS, 9TH MAIN, 6TH A CROSS, SADASHIVANAGAR, BANGALORE-560 080. 2. MOHAMMED NIYAZUDDIN S/O MOHAMMED SIRAJUDDIN, AGED 66 YEARS, RESIDING AT B-003, ANANDA BAIRAVI APARTMENTS, 1397, HBR LAYOUT, 2ND BLOCK, STAGE-1, HBR LAYOUT, BANGALORE-560 043. 3. MRS SARYU.P.KOTHARI W/O PANKAJ.L.KOTHARI, AGED 65 YEARS, RESIDING AT NO.11, PALACE ORCHARD APARTMENTS, 9TH MAIN, 6TH 'A' CROSS, SADASHIVANAGAR, BANGALORE-560 080. …PETITIONERS (BY SRI. SATVIK UPADHYA., ADVOCATE FOR SRI. ROHAN KOTHARI., ADVOCATE) Digitally signed by THEJASKUMAR N Location: High Court of Karnataka - 2 - NC: 2025:KHC:837 WP No. 12026 of 2021 AND: 1. THE RESERVE BANK OF INDIA, CENTRAL OFFICE BUILDING, 18TH FLOOR, SHAHID BHAGAT SINGH ROAD, MUMBAI-400 001. REPRESENTED BY ITS CHAIRPERSON. 2. UNION OF INDIA, MINISTRY OF FINANCE, NORTH BLOCK, NEW DELHI-110 001. REPRESENTED BY ITS SECRETARY. 3. EDELWEISS RETAIL FINANCE LIMITED, HAVING ITS REGISTERED OFFICE AT: TOWER-3, WING-B, KOHINOOR CITY MALL, KOHINOOR CITY KIROL ROAD, KURLA (WEST), MUMBAI, MAHARASHTRA-400 070. HAVING ITS BANGALORE OFFICE AT: 746, KORAMANGALA 4TH BLOCK, BANGALORE-560 034. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE. 4. EEDELWEISS HOUSING FINANCE LIMITED, HAVING ITS REGISTERED OFFICE AT: M/S EDELWEISS HOUSE, OFF HOUSING C.S.T. ROAD, KALINA, MUMBAI-400 098. HAVING ITS REGIONAL OFICE AT: 7TH FLOOR, KOCHAR TOWER, NO.19, VENKATANARAYANA ROAD, T-NAGAR, CHANNAI-600 017. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE. …RESPONDENTS (BY SMT. ADITHI SHETTY., ADVOCATE FOR SRI. BHAVANI KUMAR., ADVOCATE FOR R1; - 3 - NC: 2025:KHC:837 WP No. 12026 of 2021 SRI. NAGESH.B.S., ADVOCATE FOR R3 TO 4; CGSC FOR R2) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, SEEKING CERTAIN RELIEFS. THIS WRIT PETITION IS LISTED FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, AN ORDER IS MADE AS UNDER: ORAL ORDER Sri.Satvik Upadhya., counsel on behalf of Sri.Rohan Kothari., for the petitioners has appeared in person. Smt.Adithi Shetty., counsel on behalf of Sri.Bhavani Kumar., for respondent No.1 has appeared through video conferencing. 2. The captioned Writ Petition is filed seeking following reliefs: (a) Issue a Writ or order of Mandamus directing respondent No.1 RBI and Respondent No.3 to enforce the moratorium terms and restructuring provisions provided in the recovery package as contained in its Circulars dated 06.08.2020, 07.09.2020, 07.04.2021 and 05.05.2021 vide Annexures-G, H, J, Z, AA and AB respectively in letter and spirit; - 4 - NC: 2025:KHC:837 WP No. 12026 of 2021 (b) Direct respondent No.1 RBI to take steps against respondent No.3 for not complying with its Circulars and not providing the 2 year moratorium and restructuring of the loan account to the petitioners in accordance with its Circulars dated 27.03.2020, 23.05.2020, 06.08.2020, 07.09.2020, 07.04.2021 and 05.05.2021 vide Annexures-D, E, G, H, J, Z, AA and AB respectively; (c) Issue a Writ or order setting aside the classification of the Petitioners' Loan Account bearing No.LBANLAP0000014793 as a Non-Performing Asset ("NPA") by Respondent No.4; (d) Issue a Writ or order quashing and setting aside the Notice dated 05.05.2021 issued by the Respondent No.4 vide Annexure-AC; (e) Consequently, restrain Respondents 3 and 4 from recovering Loan repayment installments/ EMIs due in respect of Loan Account No.LBANLAP0000014793 from the Petitioners in any manner. (f) Direct Respondent No.3 to forthwith consider the Petitioners' request for granting a 2 year moratorium on the EMI payments on the Petitioners' Loan Account bearing No.LBANLAP0000014793 from 1st September 2020 and restructure the said Loan Account with parameters granted for the hotel industry and MSME borrowers, in accordance with RBI Circulars dated 06.08.2020, 07.09.2020, 07.04.2021 and 05.05.2021 vide Annexures-G, H, J, Z, AA and AB respectively. (g) Direct Respondent No.3 to reverse the recoveries of EMIs of Rs.6,03,980/- effect for the moths of March 2020 and August 2020 which were in violation of the - 5 - NC: 2025:KHC:837 WP No. 12026 of 2021 moratorium imposed by Respondent No.1 RBI as per their Circulars dated 27.03.2020 and 23.05.2020 and also for the months of February 2021 and March 2021, to the Petitioners' bank account. (h) Quash and set-aside the Respondent No.4's notice dated 23.10.2020 vide Annexure-M, notice dated 07.01.2021 vide Annexure-Q as the Petitioners have taken no loans from Respondent No.3. 3. Heard the arguments and perused the Writ papers with care. 4. Counsel Sri.Satvik Upadhya., on instruction submits that the petitioners have cleared the Loan account. Counsel therefore, submits that an appropriate order may be passed. The oral submission made by counsel for the petitioners is placed on record. 5. Because of the closure of the Loan account by the petitioners, nothing survives for consideration in the Writ Petition. 6. Resultantly, the Writ Petition is disposed of. Sd/- (JYOTI MULIMANI) JUDGE TKN List No.: 3 Sl No.: 41