The Miraj Urban Co-op. Bank Ltd v. Redressal Forum Sangli & Anr.

Mr. G.M. Savagave, for the Petitioner. Mr. A.M. Kulkarnil for respondent No.3. Mr. Uday Warunjikar, for Respondent Nos. 9,11,12,13, 22,24,26,27,28 and 30 Mr. Abhjeet Mavathe i/b. Udwadia & Udeshi for Respondent No.35. Mrs. A.R.S. Baxi for respondent No.7. F.I. REBELLO & CORAM : CORAM : F.I.F.I. REBELLO & CORAM : REBELLO & R.M.SAVANT, JJ. R.M.SAVANT, JJ. R.M.SAVANT, JJ. DATED : 13TH MARCH, 2007 DATED : 13TH MARCH, 2007. DATED : 13TH MARCH, 2007 P.C. P.C.P.C. . The case of the complainants who are respondents herein is that moneys were due and payable before the purported Moratorium by the Reserve Bank dated October, 27,

2006. From the impugned order we could not find that the petitioner herein took up any defence that they could not make payment on the ground that the Reserve Bank of India has prohibited them from releasing the amounts. If it is the case of the petitioner that such a stand was taken and not answered by the Consumer Forum it is open to them to apply to the Consumer Forum for review of that order.

Even otherwise the impugned is order dated 28th November, 2006 and considering that the R.B.I. Notification is of 27th October, 2006 it will be open to the petitioners herein to move the R.B.I. to point out the order of the Consumer Forum. The Reserve Bank of India to dispose of the representation according to law. . With the above observation petition disposed of. All interim orders stand vacated. . For a period of two weeks from today no proceedings in contempt be taken against the petitioners. F.I.REBELLO, J) (F.I.REBELLO F.I.REBELLO R.M.SAVANT,J.) (R.M.SAVANT,J R.M.SAVANT,J