KARANJA TERMINAL AND LOGISTICS PVT. LTD. vs UNION OF INDIA AND ORS

Judgment text excerpt

$~7 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment Delivered on: 06.10.2025 + W.P.(C) 13847/2025 KARANJA TERMINAL AND LOGISTICS PVT. LTD.....Petitioner Through: Mr. Sandeep Sethi and Mr. Sudhir Nandrajog, Sr. Advs. with Mr. Sameer Chaudhary, Mr. Preet Pal Singh, Ms. Sonali Gaur and Ms. Shakshi Kaushik, Advs. Versus UNION OF INDIA AND ORS .....Respondents Through: Mr. Tushar Mehta, Solicitor General and Mr. Nalin Kohli, Sr. Adv. with Ms. Nimisha Menon, Mr. Anoop Rawat, Ms. Arushi Chandra, Ms. Snigdha Saraff, Ms. Diksha Sharma and Ms. Charu Bansal, Advs. for R-3 to 5. Mr. Ashish K. Dixit, CGSC with Mr. Umar Hashmi, Mr. Mayank Upadhyay and Ms. Iqra Sheikh, Advs. for R-1/UOI. Mr. Ramesh Babu, Ms. Manisha Singh and Ms. Tanya Chowdhary, Advs. for R-2/RBI. CORAM: HON'BLE MR. JUSTICE VIKAS MAHAJAN JUDGMENT VIKAS MAHAJAN, J (ORAL) CM APPL. 56787/2025 (exemption) 1. Allowed, subject to all just exceptions. 2. The application stands disposed of. W.P. 13847/2025 & CM APPL. 56786/2025 (by petitioner seeking stay) Signature Not Verified Digitally Signed W.P.(C) 13847/2025 Page 1 of 31 By:DEEPAK SINGH Signing Date:05.10.2025 05:02:45 3. By way of the present petition, the petitioner assails the impugned letter dated 02.09.2025 issued by respondent no.3/Canara Bank (hereinafter also referred to as „Canara Bank’), as well as, letter dated 03.09.2025 issued by respondent no.4/Punjab & Sind Bank (hereinafter also referred to as „P&S Bank’), whereby the petitioner was informed that the lenders1 have decided to annul the One Time Settlement [„OTS‟] process, for the reason that no approval was received from 3rd consortium bank i.e. respondent no.5/Bank of Baroda [hereinafter also referred to as ‘BoB’]. 4. The case set out by petitioner in the present petition is that it had availed cer