1. The Court:- The writ petitioner and the respondent no. 2 bank are
represented by their respective counsels.
2. By filing the instant writ petition, the writ petitioner has prayed for
issuance of appropriate writ/writs against the respondent no. 2 authority
commanding them to recall and/or revoke and/or cancel the impugned
order dated April 9, 2026.
3. At the time of hearing, Mr. Chaudhury, learned Senior Advocate
appearing on behalf of the writ petitioner, at the very outset, draws attention
of this Court to page nos. 259 to 269 of the instant writ petition (Annexure
P-12) being a copy of the order impugned dated April 9, 2026. It is
submitted by Mr. Chaudhury that on careful perusal of the impugned order
dated April 9, 2026 it would reveal that such impugned order was passed on
April 9, 2026 whereas the effect of the said order was given on and from
March 18, 2026. It is further submitted by Mr. Chaudhury that giving effect
of the said impugned order retrospectively is beyond the RBI guidelines.
