RBI asks RRBs not to deal with 918 defaulted companies following Patna High Court Order

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Published on May 14, 2007

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RBI asks RRBs not to deal with 918 defaulted companies following Patna High Court Order

RBI/2006-2007/393
RPCD. CO. RRB. BC. No. 91 / 03.05. 33/2006-07
May 14, 2007
The Chairmen
All Regional Rural Banks

Dear Sir

In the High Court of Judicature at Patna –
CWJC No.13422 of 2006 –
Council for the Protection of Public Rights and Welfare
vs. Union of India and Others – Regarding

We advise that the Hon'ble Patna High Court vide its order dated April 10, 2007 in the captioned matter has directed the Reserve Bank of India to direct all the banks that the companies listed in the enclosed list, which have been declared as 'defaulted companies' be not allowed to deal with money transactions in their accounts.

2. You are, therefore, advised to ensure that no money transaction of the company/ies, declared as 'defaulted companies' by the Hon'ble Patna High Court be allowed in your bank. Accordingly, you may advise all your branches in this regard immediately and report to us about the compliance with the order.

3. A copy of the order dated April 10, 2007 passed by the Hon'ble Patna High Court in the captioned matter and a copy of the list containing the defaulted companies (numbering 918) declared by the Hon'ble Patna High Court are enclosed for strict compliance .

4. Please acknowledge receipt to our concerned Regional Office.

Yours faithfully,

(C.S.Murthy)
Chief General Manager-in-Charge