MRS. SAPNA GUPTA AND ANR. vs UNION OF INDIA AND ANR.

IN THE HIGH COURT OF DELHI AT NEW DELHI W.P.(C) 14855/2024 and CM APPL. 80159/2025 Date of Decision: 25.02.2026 IN THE MATTER OF: MRS. SAPNA GUPTA AND ANR. .....Petitioners Through: Mr. Rajul Shrivastav and Mr. Arnav Chaudhary Advocates. versus UNION OF INDIA AND ANR. .....Respondents Through: Mr. Ripudaman Bhardwaj CGSC with Mr. Rudra paliwal, GP for UOI. Mr. Arun Aggarwal and Kajal Ashok Mishra, Advocates for R-2. CORAM: HON'BLE MR. JUSTICE PURUSHAINDRA KUMAR KAURAV JUDGEMENT PURUSHAINDRA KUMAR KAURAV, J. (ORAL) Admittedly, the Look Out Circulars (‘LOCs’) have been issued against the petitioners at the instance of the Bank. 2. There does not seem to be any investigation being carried out by any of the investigating agencies. The power of the Charmain, Managing Director or Chief Executive Officer of the Public Sector Banks with respect to opening of the LOC has been decided by this Court in the case of Vineet 1. The relevant paragraph is extracted as under: “28. On the conspectus of the aforenoted decisions and memorandum, it is seen that the following guiding principles emerge governing the issuance, continuance, and judicial review of LOC: (i) LOC constitutes a coercive executiv