1 2025:CGHC:4094 NAFR HIGH COURT OF CHHATTISGARH AT BILASPUR WPC No. 6444 of 2024 1 - M/s Punarv Resources Pvt. Ltd. A Company Duly Incorporated Under The Provisions Of The Companies Act, 2013 Having Its Registered OfÏce At Tf-12a, 3rd Floor, Shyam Plaza, Pandri, Raipur, Chhattisgarh Petitioner(s) versus 1 - Punjab National Bank Through Its Managing Director-Cum-Chief Executive OfÏcer, Plot No. 4, Sector 10, Dwarka, New Delhi 2 - Zonal Manager Punjab National Bank, Raipur Zone, Zonal OfÏce, First Floor, Plot No. 46, Sector 24, Opposite Block A, OfÏce Campus, Atal Nagar, Naya Raipur, Chhattisgarh 3 - Branch Manager Punjab National Bank, Branch OfÏce, Mcc Ii Raipur, Near Cm House, Opposite Chhattisgarh Club, Raipur, District Raipur, Chhattisgarh 4 - Authorised OfÏcer Punjab National Bank, Branch OfÏce, Mcc Ii Raipur, Near Cm House, Opposite Chhattisgarh Club, Raipur, District Raipur, Chhattisgarh Respondent(s) For Petitioner(s) : Mr. Amrito Das, Advocate For Respondent(s) : Mr. Harsh Wardhan, Advocate Hon'ble Shri Bibhu Datta Guru , Judge Order on Board 22/01/2025 1. By the present writ petition, the petitioner is questioning notice dated 11/11/2024 (Annexure-P/1) and letter dated 30/10/2024 RAHUL JHA Digitally signed by RAHUL JHA Date: 2025.01.23 10:38:57 +0530 2 (Annexure-P/2) issued by respondent, whereby the petitioner’s account has been classified as NPA. 2. Learned counsel for the petitioner submits that the procedure prescribed under the Secularization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as ‘the Act, 2002’) and the guidelines framed in the judgment passed by the Hon’ble Supreme Court in the matter of M/S. Pro Knits vs The Board Of Directors Of Canara Bank, 2024 (10) SCC 292, has not been followed before classifying the petitioner’s account as NPA. 3. Learned counsel for the respondent/Bank would submit that the Committee constituted under the Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises (FRR for MSMEs) considered the case of the petitioner and only thereafter initiation has been taken for classifying the account of the petitioner as NPA. 4. In reply to this submission, learned counsel for the petitioner submits that the concerned Committee has not notified its proposal as the petitioner has never submitted any proposal before the Committee, instead thereof, the Committee considered the case of the petitioner, as stated in covering memo dated 17/01/2025 filed by the respondent counsel. Therefore, learned counsel prays that a direction may be issued that if the petitioner approaches the Bank with a proposal for consideration of his case, the same may be 3 considered in light of the directions made in the judgment M/S. Pro Knits (Supra). 5. I have heard counsel for the parties and perused the documents as also the proceeding placed by covering memo dated 17/01/2025. 6. It appears from the minutes which has been produced by the Bank that the petitioner has not been afforded any opportunity while classifying the account of the petitioner as NPA. Therefore, it is directed that the petitioner shall approach before the Bank within 10 days and submit his proposal before it and the respondent/Bank shall consider the case of the petitioner in the meeting of Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises (FRR for MSMEs) and shall pass necessary resolution in accordance with law within two weeks from the date of receipt of copy of this order. 7. The petitioner is permitted to operate the concerned Bank account, and notice dated 11/11/2024 (Annexure-P/1) & letter dated 30/10/2024 (Annexure-P/2) shall not remain in operation till the decision is taken on the proposal to be submitted by the petitioner. 8. With the aforesaid direction, the writ petition is disposed of. Sd/- (Bibhu Datta Guru) Judge Rahul