9911796707
TMI Blog2022 (12) TMI 766X X X X Extracts X X X X X X X X Extracts X X X X ..... opinion of the court, the same course of action would be appropriate - the matter shall now be considered afresh by RBI in light of the current position of law and judgments of this Court. Petition disposed off. - W. P. ( C ) 5740/2021 - - - Dated:- 22-11-2022 - HON'BLE MR. JUSTICE SANJEEV NARULA For the Petitioner : Mr. Puneet Agarwal , Mr. Purvi Sinha , Mr. Wilson Joy and Mr. Chetan Kumar Shukla , Advocates. For the Respondents : Mr. Vivek Goyal , CGSPC with Mr. Gokul Sharma , Advocate for R - 1. Mr. Ramesh Babu MR , Ms. Manisha Singh , Ms. Nisha Sharma and Ms. Tanya Chowdhary , Advocates for RBI ORDER 1. Petitioner, a Non-Banking Financial Company, has approached this Court seeking directions against: (a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 15th October, 2018, apprised the RBI of the above-noted developments and explained that as on 31st March, 2018, Petitioner was compliant with the NOF requirements. The subsequent proceedings, and appeal thereto, culminated in the Impugned Orders. 4. Mr. Agarwal has relied upon a decision of the Division Bench of this Court in W.P.(C) 2384/2020 dated 29th January, 2021 [Shubh Lakshmi Capital Ltd. v. Reserve Bank of India and Anr.], where Petitioner could not meet the NOF requirement as on 31st March, 2017 but subsequently, prior to issuance of SCN, met the requirement (on 31st March, 2018). The Division Bench set-aside the impugned decision of the Appellate Authority and remanded the matter back for fresh reconsideration, holding as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . C. Finance and Leasing Pvt. Ltd. v. Union of India Ors. [in W.P.(C) 5991/2020] wherein, under similar circumstances, the Court remanded the matter back to RBI for fresh consideration. 6. Since the facts of the present petition are similar to the decision of this court in B. H. C. Finance and Leasing (supra), in the opinion of the court, the same course of action would be appropriate. In this regard, Mr. Agrawal states that Petitioner would be agreeable to re-examination of the matter by RBI. 7. Accordingly, the Impugned Orders i.e., the order dated 15th November, 2018 passed by RBI, and order dated 07th February, 2020 passed by the Appellate Authority, are set aside. The matter shall now be considered afresh by RBI in light of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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