MARKAND NAVNITLAL ADHIKARIversusCANARA BANK LTD.

           Digitally signed
                                                                    903-WP-4881-2024.DOC
           by PALLAVI
           MAHENDRA
PALLAVI    WARGAONKAR
MAHENDRA
WARGAONKAR Date:
           2026.07.06
           15:49:00
           +0530




                                                                            Chitra Sonawane.

                      IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                              ORDINARY ORIGINAL CIVIL JURISDICTION
                                 WRIT PETITION NO.4881 OF 2024


   Markand Navnitlal Adhikari                                              …Petitioner.
        Versus
   Canara Bank Limited & Anr.                                          …Respondents.

                                            WITH
                                WRIT PETITION NO.5158 of 2024

   Krishna Showbiz Services Private Limited & Anr.                      .....Petitioners.
       Versus
   Canara Bank Ltd Arm Branch-I, Mumbai & Anr.                         .....Respondents


   Mr Ashish S. Kamat, Senior Advocate alongwith Mr Ansh Agal &
         Ms Aditi Pareek, i/by Jain Law Partners LLP for Petitioners.
   Mr Rishab Shah, a/w Mr Gajendra A. Rajput for Canara Bank.



                                     CORAM:        SUMAN SHYAM &
                                                   ADVAIT M. SETHNA, JJ.

                                     DATED:        2nd JULY 2026.


 Order (Per Advait M. Sethna):-

 1.                These Petitions involving similar issues/reliefs, at the request
 of parties, are disposed of by this Common Order.


   2.              The Petitions are filed primarily assailing the Order dated
   10th September 2024, passed by the Identification Committee of




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Respondent No.1/Bank, declaring the Petitioners as a ‘Wilful
Defaulter’ (‘Impugned Order’ for short).


3.    Heard learned Counsel for the parties.


4.    Rule. Rule made returnable forthwith, with the consent of
the parties.


5.    At the outset, Mr. Ashish Kamat, learned Senior Counsel for
the Petitioners would invite the attention of this Court to an Order
dated 9th October 2024 passed by the Co-ordinate Bench of this
Court in the present proceedings. Vide such Order, this Court was
of a prima facie view that non-furnishing of the Order of the
Identification Committee to the Petitioner, is contrary to the law
laid down by the Supreme Court in State Bank of India Vs. M/s Jah
Developers Pvt Ltd1.

6.    Mr Kamat would further submit that by the Order of 9 th
October 2024 (supra), this Court, by way of ad-interim relief
directed that the Respondent No.1/Bank shall not act in
furtherance of Impugned Order dated 10th September 2024 passed
by the Identification Committee. Mr. Shah, learned Counsel for
Respondent No.1/Bank does not dispute the above.


7.    In the aforementioned backdrop, the parties are now at ad
idem to approach the Review Committee to redress its grievances
as envisaged under the Master Circular of the RBI-the second
Respondent.

1     (2019)6 SCC 787.




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8.    Considering the above, the following order, in our opinion
shall meet the ends of justice :-
                                    ORDER

        (a) The Petitioners shall approach the Review Committee
        constituted under the Master Circular of the RBI-the
        second     Respondent.       They    would   furnish    their
        representations in writing along with the supporting
        material on the issue of declaration of the Petitioners as a
        ‘Wilful Defaulter’.


        (b) The Review Committee shall afford an opportunity of
        personal hearing to the Petitioners. Thereafter, a reasoned
        Order will be passed which will be communicated to the
        parties by the said Review Committee.


        (c) The Review Committee shall complete the above
        exercise as expeditiously as possible, preferably within the
        period of eight weeks from the date of the Petitioners
        approaching the Review Committee, as noted (supra).


        (d) Until such Order is passed by the Review Committee
        of the Canara Bank-the First Respondent shall not report
        the classification of the Petitioners as ‘Wilful Defaulter’
        based on the Impugned Order of the Identification
        Committee dated 10th September 2024, to the credit
        information companies, including CIBIL, or other credit
        registries and to also refrain from taking any precipitative
        adverse action, in the interregnum, against the Petitioners.




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        (e) In the event the Review Committee decides against the
        Petitioners, it shall be open to the Petitioners to adopt such
        appropriate legal remedies as available in law. To facilitate
        such course, this Court, in exercise of its discretionary
        jurisdiction under Article 226 of the Constitution of India,
        deems it fit and proper to direct that such adverse Order, if
        any, of the Reveiw Committee, shall not be acted upon for
        a period of two weeks from the date of such Order.


        (f) It is clarified that we have not delved into the merits
        of the rival contentions, which are left open for the parties
        to be urged before Review Committee, to be decided on its
        own merits and in accordance with law.


        (g) For the above reasons, the ad-interim order of this
        Court dated 9th October 2024, stands modified accordingly.


9.    The Writ Petition is disposed of in the above terms. No order
as to costs.


10.   All concerned to act on an authenticated copy of this Order.




(ADVAIT M. SETHNA, J.)                         (SUMAN SHYAM, J.)




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