Writ Petition Dismissed as Misconceived for Bypassing SARFAESI & Insolvency Proceedings

Omkaram Venkata Ramana Vs Union of India (Andhra Pradesh High Court) The Andhra Pradesh High Court dealt with a writ petition seeking multiple reliefs against a bank, including declaration of classification of accounts as Non-Performing Assets (NPA) as illegal, restoration of properties, compensation, and action against bank officials. The petitioner, a director of companies maintaining banking relations since 1993, had availed various credit facilities. For expansion, further facilities were sanctioned between 2013–2014. Machinery suppliers were selected based on the bank’s recommendation...