- 1 - HC-KAR NC: 2025:KHC:29429 WP No. 12800 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF JULY, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 12800 OF 2025 (GM-RES) BETWEEN: AXORA RESOURCES LIMITED REGISTERED OFFICE. 1, AJC BOSE ROAD 4TH FLOOR, KOLKATA, WEST BENGAL- 700 020 AUTHORIZED REPRESENTATIVE MANAGING DIRECTOR SHRI VIJENDRA KEDIA UNDER COMPANIES ACT 2013. …PETITIONER (BY SRI. SHYAM V PRASAD.,ADVOCATE) AND: 1. RESERVE BANK OF INDIA REGISTERED OFFICE 6, SANSAD MARG, NEW DELHI- 110001 REPRESENTED BY GOVERNOR. 2. HDFC BANK LIMITED, DIVYASHREE CHAMBERS, 3RD FLOOR, A-WING, O SHAUGHNESSY ROAD, LANGFORD GARDEN, Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:29429 WP No. 12800 of 2025 BANGALORE, KARNATAKA-560025 REPRESENTED BY ITS MANAGER. …RESPONDENTS (BY SRI. RAJESH VELLAKATT.,ADVOCATE FOR R1; SRI. FRANCIS XAVIER, ADVOCATE FOR R2) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO-DIRECT SETTING ASIDE AND QUASHING THE ORDER NO. HDFC/CGT/IFG/2024-25/06 DATED 30.10.2024 ISSUED BY THE RESPONDENT NO. 2 CLASSIFYING THE ACCOUNT OF THE PETITIONER AS "RED FLAG ACCOUNT/FRAUD", (AT ANNEXURE-A) AS ALSO THE SUBSIQUIENT NO. HCFC/CTG/IFG/2024-25/07 DATED 05.11.2024 (AT ANNEXURE-N) AS THE SAME BEING VIOLATIVE OF THE GUIDELINES ISSUED BY THE RESERVED BANK OF INDIA BEARING NO. RBI/DBS/2016-17/28, DBS.CO.CFMC. BC NO.1/23.04.001/2016-17 DATED 01.07.2016 (AT ANNEXURE-C) AS WELL AS VIOLATIONS OF THE DIRECTIONS CONTAINED IN THE JUDGMENT OF THE SUPREM COURT IN STATE BANK OF INDIA VS. RAJESH AGGARWAL (2023(5) SCLAE 432:2023 AIR 1859 SC) (AT ANNEXURE-P). THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2025:KHC:29429 WP No. 12800 of 2025 CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The learned counsel for the petitioner has filed a memo which reads as under: The Counsel for the petitioner seeks leave of this Hon'ble Court to permit the petitioner to withdraw the present petition in view of the fact that the respondent No.2-Bank has assured reconsideration of the case of the petitioner. Hence, the petitioner may be permitted to withdraw the present petition with liberty to approach this Hon'ble Court, if need arise, in the interest of justice. In view of the above, the petition stands disposed of. Sd/- (B M SHYAM PRASAD) JUDGE SA ct:sr