VARDHAN AGRO PROCESSING LTD AND ANR vs UNION OF INDIA THROU. REGIONAL DIRECTOR MINISTRY OF CORPORATE AFFAIRS WESTERN REGION AND ORS

Judgment text excerpt

WP14750_25.doc IN THE HIGH COURT OF JUDICATURE AT BOMBAY CIVIL APPELLATE JURISDICTION WRIT PETITION NO.14750 OF 2025 Vardhan Agro Processing Limited and another … Petitioners Vs. Union of India and others … Respondents Mr. Rohaan Cama a/w. Mr. T. N. Tripathi, Ms. Kalyani Wagle, Ms. Somya i/b. T. N. Tripathi & Co. for Petitioners. Mr. Ashutosh Mishra a/w. Mr. Viraaj Bhate for Respondent No.1-UOI. Ms. Huzan Bhumgara a/w. Mr. Pradeep Mane and Ms. Riddhi Badheka i/b. Desai and Diwanji for Respondent No.2. Mr. Phiroze Colabawala a/w. Ms. Pushpa Thapa and Ms. Naina Chheda i/b. Mabale and Associates for Respondent No.3. CORAM : MANISH PITALE & SHREERAM V. SHIRSAT, JJ. Reserved on : JANUARY 17, 2026 Pronounced on : JANUARY 29, 2026 ORDER : (Per Justice Manish Pitale) . Petitioner No.1 is categorized as a Micro, Small and Medium Enterprise (MSME), of which petitioner No.2 is the chairman and shareholder. The petitioners have approached this Court seeking directions against the respondent No.3 - Union Bank of India to implement Government Notification dated 29.05.2015 issued by the respondent No.1 - Union of India and Master Direction dated 21.07.2016 issued by the respondent No.2 - Reserve Bank of India, in order to refer the loan account of the petitioner to the Committee, for restructuring of the debt, constituted by the respondent No.3 - Bank under the aforesaid Master Direction dated 21.07.2016. The petitioners have also sought further ancillary directions. 2. The crux of the dispute between the petitioners and respondent 1/23 WP14750_25.doc No.3 is on the eligibility of petitioner No.1 as an MSME to the aforesaid Notification issued by respondent No.1 and the Master Direction issued by respondent No.2 - RBI, as also the Framework devised by the respondent No.2 - RBI for rev