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

RBI/2006-2007/364
DBOD. No. Dir. BC. 91 /13.26.00/2006-07

April 30, 2007

The Chairman/ Managing Director/ Chief Executive Officers of all Commercial Banks (excluding RRBs)

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 OthersRegarding

1. We have to advise you 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 the money transaction 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 of 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 of the order of the Court.
   
   
4. Please acknowledge receipt.

Yours faithfully
(P. Vijaya Bhaskar)
Chief General Manager